By MarketsFarm
WINNIPEG, Jan. 5 – The following is a glance at the news moving markets in Canada and globally.
- The standoff over who will become the next Speaker of the United States House of Representatives continued into its third day on Thursday, as division within the majority-Republican party has already seen top-contender Kevin McCarthy fail in six vote attempts. The standoff marks the first time in 100 years that a speaker was not elected on the first day of a new House session.
- Amazon will reportedly layoff 18,000 people from its e-commerce and human resources divisions, although the countries where the cuts will happen were not immediately available. The online retail giant has more than 1.5 million employees worldwide, including warehouse staff, with roughly 300,000 corporate jobs.
- Canada’s merchandise exports were down by 2.3 per cent in November, while imports dipped by 2.1 per cent, according to a report from Statistics Canada. As a result, the country’s merchandise trade balance shifted to a C$41 million deficit after posting a surplus of C$130 million the previous month.
