Global Markets: Number of Boeing 737’s grounded continues to grow

By MarketsFarm

WINNIPEG, March 12 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Approximately 40 per cent of the Boeing 737 Max 8’s have been grounded by numerous airlines around the world as of Tuesday. The move comes after a Max 8 crashed shortly after take-off in Ethiopia on March 10. In October a Max 8 crashed into the Java Sea, also shortly after take-off. The cause of the crashes has yet to be determined, although Boeing is making software changes to the aircraft.

– United Kingdom Prime Minister Theresa May will face strong opposition to her latest Brexit proposal in the UK House of Commons. The contentious point remains over the Irish backstop, the open border between Ireland and Northern Ireland and whether a closed border should be reinstituted. British MPs vote Tuesday on the proposal.

– Despite the Federal Court of Canada upholding the federal Justice Department’s initial decision to proceed with the prosecution of SNC-Lavalin, Attorney General David Lametti and Prime Minister Justin Trudeau stated a deferred prosecution agreement (DPA) is still possible for the engineering firm. Lametti’s predecessor, Jody Wilson-Raybould along with Director of Public Prosecutions Kathleen Roussel, refused to give a DPA to SNC-Lavalin.

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