Compiled by MarketsFarm
WINNIPEG, Aug. 30 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- As expected, Hurricane Idalia made landfall on Florida’s west coast on Wednesday, striking at the corner of the state’s panhandle. The category three hurricane has been forecast to create storm surges of about 4.5 meters and officials warned a number of tornadoes could be generated. Over the next two days Idalia is projected to push across northern Florida then following the coasts of Georgia, South Carolina and North Carolina before turning eastward into the Atlantic Ocean.
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- Unifor president Lana Payne announced on Tuesday that the union selected the Ford Motor Company of Canada to begin negotiations for a new bargaining agreement. Payne said that Ford has been more co-operative than General Motors or Stellantis. Following a near unanimous strike vote from Unifor’s members, the union is looking for improvements to pensions and wages, as well as a transition plan for manufacturing electric vehicles. The deadline to reach a new contract is Sept. 18.
- There’s been a coup in Gabon with the military taking control of the African country on Wednesday. Four days ago, President Ali Bongo Ondimba won a third consecutive seven-year term, extending his family’s nearly 60-year grip on power. Critics accused Bongo of doing very little to reinvest Gabon’s oil wealth into the country. The military stated the government, senate, national assembly, the constitutional court, and the election body have been dissolved. As well, Gabon’s borders have been closed until further notice. Reports said people in the capital of Libreville were cheering the coup’s leaders.
