WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– New Zealand Prime Minister Jacinda Ardern announced on Thursday she will not seek another term and will officially step down by Feb. 7 when a new leader is sworn in. Ardern explained to reporters that she “no longer has enough in the tank to do it justice.” Ardern, who also leads the centre-left Labour Party, was first elected Prime Minister in 2017 and won a second term in 2020. She received international praise for her country’s handling of the COVID-19 pandemic early on, but the Labour Party is now trailing in the polls behind the centre-right National Party.
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– Workers across France took to the streets on Thursday in protest of the federal government’s plan to raise the minimum retirement age from 62 to 64. The strikes disrupted transport, schools and other public services, while also cancelling trains and flights. The government had previously said that reforms are necessary with an aging population as everyone receives a state pension. Unions have said the reforms are an attack to workers’ rights and propose either a tax on the wealthy or more payroll contributions from employers instead.
– TekSavvy Solutions Inc. is asking the Canadian Radio-television and Telecommunications Commission (CRTC) to review part of Rogers Communications Inc.’s proposed purchase of Shaw Communications Inc. Rogers also plans on selling Shaw’s Freedom Mobile wireless business to Quebecor Inc.’s Videotron to alleviate competition concerns. However, TekSavvy claims wholesale broadband network agreements between Rogers and Videotron are anticompetitive. The Competition Bureau’s attempt to block the deal late last year was dismissed by the Competition Tribunal. The Competition Bureau is appealing the decision.
