06:15:58 EDT Thu 16 May 2024
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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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NP says Magna, others hear Van port strike delayed

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

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

The National Post reports in its Thursday edition that a strike at the Port of Vancouver has been delayed. The Post's Ryan Tumilty writes that Conservative leader Pierre Poilievre has called on the federal Liberal government to step up and resolve the strike quickly. He said the Liberals' efforts so far had failed. Greater Vancouver Board of Trade president Bridgitte Anderson said the government should be moving quickly to end the strike. "We urge the government to do whatever it can to make sure that this ends swiftly and we get the port back up running again," she said. The Board of Trade has estimated the strike's current cost at $10-billion with backlogs that could take months to clear. A report in 2023 from the World Bank and S&P Global Market Intelligence found the Port of Vancouver second from the bottom in an international ranking of efficiency with ships occasionally waiting weeks to be off-loaded. Mr. Anderson said the strike is further damaging their reputation and she fears trade will simply move elsewhere. She said, "This creates more uncertainty and more instability, not only for our economy but also for our international reputation as a stable trading partner."

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