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Canadian Pacific Kansas City Ltd
Symbol CP
Shares Issued 931,355,494
Close 2023-07-20 C$ 106.10
Market Cap C$ 98,816,817,913
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Globe says Magna, others hear port strike averted

2023-07-20 08:09 ET - In the News

See In the News (C-MG) Magna International Inc

The Globe and Mail reports in its Thursday, July 20, edition that the union representing 7,400 B.C. port workers has rescinded its strike notice for this weekend, averting another work stoppage. The Globe's Brent Jang and Steven Chase write that union leaders issued a 72-hour strike notice scheduled to take effect Saturday, only to later withdraw that notice, union president Rob Ashton and the BC Maritime Employers Association (BCMEA) said in separate statements late Wednesday. The BCMEA represents 49 private-sector companies such as shipowners and terminal operators. Still, a wide range of organizations such as the Business Council of Canada and an array of politicians, including premiers, have been repeatedly urging the federal Liberal government to recall Parliament to introduce back-to-work legislation. Parliament is currently on a summer recess until September. A statement from the Prime Minister's Office said late Wednesday, "Workers and employers across Canada -- and all Canadians -- cannot face further disruption." Members of the International Longshore & Warehouse Union Canada halted their 13-day strike on July 13, but walked off the job again starting on Tuesday afternoon, for 24 hours.

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