Skip to main content

Featured

Air Transat Faces Flight Suspensions Amid Pilot Strike Notice

  Air Transat has announced it will gradually suspend flights starting Monday following a 72-hour strike notice issued by its pilots’ union. The Air Line Pilots Association (ALPA), representing roughly 700 pilots, delivered the notice after nearly a year of unsuccessful negotiations with the airline’s parent company, Transat A.T. Inc. Background The union filed the strike notice on Sunday, giving pilots the legal right to walk off the job as early as Wednesday. Last week, pilots voted 99% in favor of strike action , underscoring their frustration over stalled contract talks. ALPA leaders emphasized that pilots do not want to strike but feel compelled to act after management failed to meet demands for a modernized agreement. Airline Response Air Transat confirmed it will begin suspending flights gradually between December 8 and 9 to prepare for a possible full shutdown. The company stated it is working “around the clock” to reach a deal and minimize disruption for trave...
Post a Comment
Read more

article

Labels

Bank of Canada Warns of Tepid Growth and Fragile Job Market Before Rate Call

                                                    Bank of Canada Governor Tiff Macklem 


Bank of Canada Governor Tiff Macklem signaled that Canada’s economy is set for only modest growth in the months ahead, while the labor market shows signs of strain. Speaking in Washington ahead of the central bank’s next interest rate decision, Macklem described the outlook as “soft,” citing weak business investment, sluggish exports, and uncertainty in hiring trends.

Recent data showed the economy contracted at an annualized pace of 1.6% in the second quarter, largely due to falling exports. While some rebound is expected in the latter half of the year, Macklem cautioned that growth will likely hover near 1%—below the economy’s potential.

On jobs, Macklem noted that despite a gain of more than 60,000 positions in September, the labor market remains fragile, with unemployment rising to 7.1% from 6.6% earlier this year. He characterized the employment picture as “volatile,” underscoring the challenges facing households and businesses.

The Bank of Canada has already cut its benchmark rate to 2.5% in September to counter slowing momentum. Policymakers now face a delicate balance: supporting growth without reigniting inflationary pressures.

As Macklem put it, restoring productivity and competitiveness will be key to lifting incomes and sustaining long-term prosperity.


Labels:

Comments

Post a Comment