Global Markets: Congress averts shutdown

By Commodity News Service Canada

WINNIPEG, Feb. 9, 2018 – The U.S. Congress passed a bill Friday to end a government shutdown. The bill passed around Midnight and just minutes after the second shutdown in 2018 began. The funding measure essentially gives the government a year to write a full-time budget.
One of Canada’s largest integrated oil companies says it is planning to scale back operations in the country due to stringent regulations and burdensome tax rates. The CEO of Suncor says Canada simply isn’t as competitive as other countries when it comes to facilitating large business projects. His comments came on the same day the federal government said it would overhaul existing environmental regulations.

A major cloud computing company in the U.S. says it will invest US$2.5 million in its Canadian operations over the next five years. Salesforce has a Canadian workforce of over 1,300 people and is currently expanding operations. Prime Minister Justin Trudeau visited the company’s Silicon Valley headquarters on Thursday.

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