By Commodity News Service Canada
WINNIPEG, September 29 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.
– The Canadian economy suffered a significant slowdown in July. The country’s gross domestic product was relatively flat during the month after eight consecutive months of growth. Weakness in the energy sector and declines in financial services output were credited with the drop.
– Bombardier has reached a US$1.7 billion deal with an airline company. Spicejet has ordered 25 of the Canadian company’s Q400 turboprop planes, with an option to potentially buy another 25 in the future. The deal comes as Bombardier is facing possible tariffs in the U.S.
– Shares of Blackberry have soared over the past day after the company announced better-than-expected software and service revenue. Early Friday morning, shares were selling at US$13.20 which was over 13 percent more than on Monday. The company earned US$19 million in the quarter ended August 31. The company’s president John Chen says expansion into the automotive sector will be a key part of the company’s future.