Business
National rail shutdown begins as employees locked out at both major Canadian railways
By Christopher Reynolds, The Canadian Press on August 21st, 2024
MONTREAL – Trains across the country have ground to a halt as 9,300 workers were locked out by both of Canada’s major railways after they failed to agree on a new contract before a 12:01 a.m. EDT deadline. The shutdown marks the first-ever simultaneous work stoppage at Canadian National Railway and Canadian Pacific Kansas City ... Read More »
Be the first to comment!Canada’s 2 major freight railroads come to a full stop without new labor contracts
By Rob Gillies And Josh Funk, The Associated Press on August 21st, 2024
TORONTO (AP) – Both of Canada’s major freight railroads have come to a full stop because of a contract dispute with their workers, and businesses fear widespread harm if the trains don’t resume running quickly. Canadian National and CPKC railroads both locked out their employees after the deadline of 12:01 a.m. Eastern Thursday passed without ... Read More »
Be the first to comment!Canadian Press NewsAlert: Rail shutdown begins as employees locked out
By The Canadian Press on August 21st, 2024
Trains across the country have ground to a halt as 9,300 workers were locked out by both of Canada’s major railways after they failed to agree on a new contract before a 12:01 a.m. EDT deadline. The shutdown marks the first ever simultaneous work stoppage at Canadian National Railway and Canadian Pacific Kansas City. The ... Read More »
Be the first to comment!As rail shutdown looms, business groups warn of dire consequences unless feds step in
By Christopher Reynolds, The Canadian Press on August 21st, 2024
MONTREAL – Hours away from an unprecedented potential shutdown at the country’s two biggest railways, business groups ratcheted up their pleas for Ottawa to step in and prevent a work stoppage that would upend supply chains – while the prime minister stressed a deal at the table is the best outcome. A phased wind-down at ... Read More »
Be the first to comment!Newfoundland newspaper The Telegram reducing print run after Postmedia purchase
By The Canadian Press on August 21st, 2024
ST. JOHN’S, N.L. – A 145-year-old newspaper in St. John’s, N.L., is cutting its print run to once a week after a court approved Postmedia’s purchase of the insolvent SaltWire Network earlier this month. A note to readers published today on The Telegram’s website says this will be its last week of daily papers. It ... Read More »
Be the first to comment!Fears for traffic if rail stoppage halts B.C.’s West Coast Express
By The Canadian Press on August 21st, 2024
A city councillor in Maple Ridge, B.C., worries about the potential shut down of the Lower Mainland’s major commuter train in the event of a national rail stoppage. Coun. Ahmed Yousef says two-thirds of Maple Ridge’s population has to leave the municipality every day to go to work elsewhere and many use the West Coast ... Read More »
Be the first to comment!Fears for traffic if rail strike halts B.C.’s West Coast Express
By The Canadian Press on August 21st, 2024
A city councillor in Maple Ridge, B.C., worries about the potential shut down of the Lower Mainland’s major commuter train in the event of a national rail stoppage. Coun. Ahmed Yousef says two-thirds of Maple Ridge’s population has to leave the municipality every day to go to work elsewhere and many use the West Coast ... Read More »
Be the first to comment!TD Bank Group takes US$2.6B provision in Q3 on anti-money laundering investigation
By The Canadian Press on August 21st, 2024
TORONTO – TD Bank Group says it has taken a US$2.6 billion provision in its third-quarter results related to ongoing U.S. investigations into its anti-money laundering program. The bank, set to release its third-quarter results Thursday, says it has taken the charge in anticipation of a global resolution of the civil and criminal investigations by ... Read More »
Be the first to comment!Rail strike would halt B.C.’s West Coast Express commuter train, says TransLink
By The Canadian Press on August 21st, 2024
The operator of British Columbia’s commuter train that shuttles thousands of people across the Lower Mainland says it won’t be able to run if a strike halts Canada’s two biggest railways this week. Metro Vancouver transport provider TransLink says the West Coast Express operates on rail owned by Canadian Pacific Kansas City Ltd. and can’t ... Read More »
Be the first to comment!What to know about the potential work stoppage at Canada’s two biggest railways
By Morgan Lowrie, The Canadian Press on August 21st, 2024
MONTREAL – A looming work stoppage at Canada’s two biggest railways could have widespread effects on everything from daily commutes to the movement of grain and fuel. Unless deals are reached, rail service at both Canadian National Railway Co. and Canadian Pacific Kansas City Ltd. could grind to a halt at 12:01 a.m. EDT Thursday, ... Read More »
Be the first to comment!S&P/TSX composite rises Wednesday, U.S. stock markets also higher
By The Canadian Press on August 21st, 2024
TORONTO – Canada’s main stock index rose on Wednesday, helped by strength in base metals and technology, while U.S. stock markets also climbed higher. The S&P/TSX composite index closed up 84.29 points at 23,121.73. In New York, the Dow Jones industrial average was up 55.52 points at 40,890.49. The S&P 500 index was up 23.73 ... Read More »
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