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Global Markets: Canada’s trade deficit widens

By Commodity News Service Canada
WINNIPEG, May 3, 2018 (CNS) – The following is a glance at
the news moving markets in Canada and globally.
Plane and train maker Bombardier Inc. has agreed to
sell its Toronto aircraft assembly site to a pension fund
as part of its efforts to raise extra cash under a five-
year recovery plan. The company will make C$635 million
gross from the sale to the Public Sector Pension Investment
Board. The sale, however, of a facility Bombardier has
owned for more than a quarter century, has raised questions
about the future of its commercial aircraft programs.
Canada’s trade deficit unexpectedly widened to a
record C$4.14 billion from C$2.93 billion a month earlier
in March, as a surge in automobile imports outpaced a
rebound for the nation’s exporters. The figures represent a
mixed picture for the trade sectors.
Cambridge Analytica, the political-consulting firm at
the centre of the Facebook Inc. data-collection and privacy
scandal, has announced its shutting down all operations and
has begun insolvency proceedings in the United Kingdom. It
is also filing for bankruptcy in the United States. The
company, which did work for U.S. President Donald Trump’s
2016 campaign, said it lost “virtually all” customers and
suppliers as a result of reports it improperly obtained
information from tens of millions of Facebook users.

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