By MarketsFarm
WINNIPEG, Sept. 14 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- Canadian wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) were up by 0.2 per cent in July to hit C$81.3 billion, according to a report from Statistics Canada, as increases in the motor vehicle and building material sectors more than countered losses in other sectors of the economy. On an annual basis, wholesale sales were up by 1.1 per cent.
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- A ‘total system collapse’ has led to widespread power outages across Nigeria’s electrical grid with no timeline yet on when the power will be restored. Due to erratic availability through the electrical grid, much of Nigeria also relies on petrol and diesel generators. However, with fuel prices nearly doubling due to the end of decades-old subsidies there has been an increased reliance on the electrical grid.
- The United Auto Workers (UAW) are set to strike against the Detroit Three automakers (Ford, GM and Stellantis) at midnight tonight, which would mark the first simultaneous labour action against the automobile companies ever. Targeted work stoppages to “create confusion” are expected, rather than a full walkout, with the UAW asking for 40 per cent raises and improved benefits.
