Here are five things you need to know this morning.
Watch BNN Bloomberg live.The planned three-day idling of two terminals at the port of Montreal is over, and. Roughly 1,200 checkers and loaders in the Maritime Employers Association walked off the job for 72-hours on Monday, protesting the lack of progress in their talks for a new labour deal. The two terminals that had been shuttered typically process about 40 per cent of the cargo through the port, which is the second busiest in Canada after Vancouver’s.
to service a new project by British energy giant BP in the region. Enbridge will spend $700 million to build one crude oil and one natural gas pipeline to link up with the Kaskida development. The new pipelines are expected to be in operation by 2029.It feels like buyers and sellers in Canada’s biggest real estate market had been waiting for months for rate cuts to give the market some direction, but the first three cuts from the Bank of Canada don’t seem to be nudging up prices so far.
The Toronto Regional Real Estate Board reported today that the benchmark selling price slipped 0.5 per cent to $1.079 million in September . That’s the second monthly decline in a row. The number of new listings surged by 9.8 per cent, easily outpacing a 3.3 per cent uptick in the volume of sales. More sellers than buyers is a recipe for lower prices in any business, so it will be interesting to see how long the current mini-trend continues.Shares of Constellation Brands are seesawing this morning after the beverage giant reported a fiscal second quarter adjusted profit that beat expectations, even as sales came up a bit shy.
. The pound lost more than one per cent against the U.S. dollar and the euro after Bailey told The Guardian newspaper that the bank could be “a bit more activist” in its rate policy. Previously the market had anticipated that the British central bank might lag its peers in the current rate-cutting cycle, so Bailey’s comments are unwinding that trade in a hurry.
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