WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– Despite severe flooding in parts of British Columbia and Atlantic Canada, Canadian retail sales for the month of November were up 0.7 per cent to C$58.1 billion, according to a report from Statistics Canada released today. Sales increased in six of 11 subsectors representing 63.8 per cent of retail trade. Overall core retail sales, excluding gas stations and motor vehicle and parts dealers, were up 0.5 per cent and in volume terms, retail sales were up 0.2 per cent. Statistics Canada also estimated retail sales went down 2.1 per cent in December.
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– United States Secretary of State Antony Blinken told reporters in Geneva, Switzerland on Friday that talks with Russian Foreign Minister Sergei Lavrov provided “a clearer path to understanding each other’s positions”. However, Russia insisted it has no plans on invading Ukraine despite an estimated 10,000 Russian troops lined up on the Russia/Ukraine border. Blinken also mentioned the U.S. plans on sharing its concerns and ideas with Russia in writing next week.
– Intel will invest US$20 billion into a new computer chip facility east of Columbus, Ohio, the company announced on Friday. Two chip factories will be built, providing 3,000 company jobs and 7,000 construction jobs. Construction is expected to begin this year with production to start in 2025. There has been a worldwide computer chip shortage due to supply chain issues during the COVID-19 pandemic, affecting the production of cars and electronic goods.
