Tag Archives: FINFP

Canada’s Trudeau invokes emergency powers in bid to end protests

OTTAWA, Feb 14 (Reuters) – Canadian Prime Minister Justin Trudeau on Monday activated rarely used emergency powers in an effort to end protests that have shut some U.S. border crossings and paralyzed parts of the capital.

Under the Emergencies Act, the government introduced measures intended to cut off protesters’ funding and took steps to reinforce provincial and local law enforcement with federal police.

“The blockades are harming our economy and endangering public safety,” Trudeau told a news conference. “We cannot and will not allow illegal and dangerous activities to continue.”

Register now for FREE unlimited access to Reuters.com

Register

But the Canadian Civil Liberties Association said the government had not met the standard for invoking the Emergencies Act, which is intended to deal with threats to “sovereignty, security and territorial integrity,” the group said.

The “Freedom Convoy” protests, started by Canadian truckers opposing a COVID-19 vaccinate-or-quarantine mandate for cross-border drivers, have drawn people opposed to Trudeau’s policies on everything from pandemic restrictions to a carbon tax. Copycat trucker protests have also sprung up in Israel, France, Australia and New Zealand.

Protesters blockaded the Ambassador Bridge, a vital trade route between Windsor, Ontario, and Detroit, for six days before police cleared the protest on Sunday while others have shut down smaller border crossings in Alberta, Manitoba and British Columbia. Protests in Ottawa, the nation’s capital, entered a third week.

Protesters camped in front of the Canadian Parliament, some of whom want the prime minister to meet with them, said the latest steps were excessive. “It’s an extreme measure that isn’t necessary,” said protester Candice Chapel.

CUTTING OFF FUNDS

The financial measures bring crowdfunding platforms under terror-finance oversight, authorize Canadian banks to freeze accounts suspected of funding the blockades and suspend insurance on vehicles in the protests, Finance Minister Chrystia Freeland said.

“We are making these changes because we know that these (crowdfunding) platforms are being used to support illegal blockades and illegal activity which is damaging the Canadian economy,” Freeland said.

Canadian authorities have said about half of the funding for the protests has come from U.S. supporters. Toronto-Dominion Bank (TD.TO) last week froze two personal bank accounts that received C$1.4 million ($1.1 million) for the protests. read more

A U.S.-based website, GiveSendGo, became a prime conduit for money to the protesters after mainstream crowdfunding platform GoFundMe blocked donations to the group. An Ontario court last week ordered GiveSendGo to freeze all funds supporting the blockade, but it said it would not comply.

Amid criticism that the police approach to demonstrations has been too permissive, Trudeau will use federal officers to back up provincial and local forces. “Despite their best efforts, it is now clear that there are serious challenges to law enforcement’s ability to effectively enforce the law,” he said.

In the western Canadian province of Alberta, police said they broke up a group that was armed and prepared to use violence to back a blockade at a border crossing with the United States. read more

The Canadian Parliament must approve the use of the emergency measures within seven days, and the left-leaning New Democrat party said it would support Trudeau’s Liberal minority government to pass the measures.

Ontario, which declared a state of emergency on Friday, backed the move. But premiers in Alberta, Quebec, Manitoba and Saskatchewan opposed the plan. Quebec’s Premier Francois Legault said using emergency powers risked putting “oil on the fire.” read more

Trudeau said the measures would be geographically targeted and time limited.

Ontario said it will speed up its plan to remove proof-of-vaccination requirements and lift pandemic-related capacity limits for many businesses while Alberta ended its mask requirements for school children on Monday. read more

Register now for FREE unlimited access to Reuters.com

Register

Additional reporting by Ismail Shakil in Bengaluru, Rod Nickel in Winnipeg, Nia Williams in Calgary and Lars Hagberg in Ottawa; Writing by Amran Abocar; Editing by Lisa Shumaker, Paul Simao and Cynthia Osterman

Our Standards: The Thomson Reuters Trust Principles.

Read original article here

U.S.-Canada bridge reopens after police clear protesters

WINDSOR, Ontario/WASHINGTON/OTTAWA, Feb 13 (Reuters) – North America’s busiest trade link reopened for traffic late Sunday evening, ending a six-day blockade, Canada Border Services Agency said, after Canadian police cleared the protesters fighting to end COVID-19 restrictions.

Canadian police made several arrests on Sunday and cleared protesters and vehicles that occupied the Ambassador Bridge in Windsor, Ontario, after a court order on Friday.

The blockade had choked the supply chain for Detroit’s carmakers, forcing Ford Motor Co (F.N), the second-largest U.S. automaker, General Motors Co (GM.N) and Toyota Motor Corp (7203.T) to cut production.

Register now for FREE unlimited access to Reuters.com

Register

The bridge carries about $360 million a day in two-way cargoes – 25% of the value of all U.S.-Canada goods trade.

A Windsor Police official told reporters that 20 to 30 arrests had been made. Police also seized vehicles within the demonstration area, according to an earlier statement.

Police stepped up their presence on Sunday with more than 50 vehicles, including cruisers, buses and an armoured car, as the number of protesters dropped to around 45 from roughly 100 on Saturday. Windsor Police tweeted “there will be zero tolerance for illegal activity”.

In Ottawa, counter protests started blocking vehicles trying to join the protests on Sunday, with residents losing patience over the three-week-old demonstrations.

In the western Canadian province of British Columbia, the Pacific highway border crossing in Surrey was temporarily closed on Sunday afternoon, for a second day, by a group of about 200 protesters, according to a Reuters photographer on the scene. A small group of protesters gathered on U.S. side of the border, blocking incoming vehicles.

The “Freedom Convoy” protests, started in the national capital Ottawa by Canadian truckers opposing a vaccinate-or-quarantine mandate for cross-border drivers, entered its 17th day on Sunday. But it has now morphed into a rallying point against broader COVID-19 curbs, carbon tax and other issues, with people joining in cars, pick-up trucks and farm vehicles.

“We’re fed up, we’re tired. We want Ottawa to be boring again,” said an Ottawa resident at a counter protest in front of the city’s police headquarters.

The Canadian government had discussed whether to invoke special emergency powers to deal with the protests in the capital, Emergency Preparedness Minister Bill Blair told CBC News on Sunday. Blair said the lack of police enforcement in Ottawa was “inexplicable.”

The rarely used Emergencies Act would allow the federal government to override the provinces and authorize special temporary measures to ensure security during national emergencies anywhere in the country. It has only been used once in peacetime – by Trudeau’s father, former Prime Minister Pierre Trudeau – in 1970.

Strangling bilateral trade, protests have spread to three border points, including in Alberta and Manitoba. Canadian police have said the protests have been partly funded by U.S. supporters, and Ontario froze funds donated via one U.S. platform GiveSendGo on Thursday.

The estimated loss so far from the blockades to the auto industry alone could be as high as $850 million, based on IHS Markit’s data, which puts the 2021 daily flow in vehicles and parts at $141.1 million a day.

“Today, our national economic crisis at the Ambassador Bridge came to an end,” Windsor City Mayor Drew Dilkens said in a tweet.

In Europe, a convoy of 150 cars protesting COVID-19 restrictions left Paris on Sunday morning and headed towards Brussels, protesters told Reuters.

Register now for FREE unlimited access to Reuters.com

Register

Reporting by Shivani Tanna In Bengaluru, Kayla Tarnowski in Windsor, Ontario, and Chris Helgrin in Ottawa; Additional reporting by Julio Cesar Chavez and Carlos Osorio in Windsor; Jen Gauthier in Surrey
Writing by Denny Thomas; Editing by Amran Abocar, Lisa Shumaker, Daniel Wallis and Gerry Doyle

Our Standards: The Thomson Reuters Trust Principles.

Read original article here

Canadian judge grants order to stop protesters blocking U.S. border bridge

WINDSOR, Ontario/WASHINGTON, Feb 11 (Reuters) – A Canadian judge on Friday ordered an end to the four-day-long blockade of a key Canada-U.S. trade corridor by protesters opposing pandemic restrictions, and Prime Minister Justin Trudeau promised President Joe Biden quick action to end a crisis that has disrupted North America’s auto industry.

The order could lead to police in Windsor, Ontario, clearing truckers who have crowded dozens of vehicles near the Ambassador Bridge, North America’s busiest land border crossing and a choke point for Detroit’s carmakers.

Superior Court Justice Geoffrey Morawetz said his order would come into effect at 7 p.m. Eastern Time (0000 GMT) on Friday to give people some time to clear the area. Trudeau earlier told reporters that no action was off the table.

Register now for FREE unlimited access to Reuters.com

Register

An hour after the deadline, about 200 protesters, including children, milled around the entrance to the bridge, waving Canadian flags, while others set off fireworks.

Police, who started to gather in a parking lot a few blocks away from the protesters, began handing out pamphlets that outlined penalties under Ontario’s emergency order, which takes effect at midnight.

Companies have diverted cargo to stem losses amid production cuts by companies including Ford (F.N).

The judge on Friday approved the request by auto industry associations and Windsor city authorities hoping to end the protests.

Occupying access roads leading to the bridge on Friday, protesters voiced defiance and there was little sign of them backing down.

“Canada is supposed to be a free country,” said Liz Vallee, a protester from Chatham, Ontario. “When that freedom is threatened, we must stand up.”

Vallee said she and others would stay until all pandemic mandates are lifted.

The “Freedom Convoy” protests, started by Canadian truckers opposing a vaccinate-or-quarantine mandate for cross-border drivers, are also occupying areas outside government buildings in the capital city of Ottawa and have blocked two smaller U.S. crossings.

The protests have inspired similar convoys and plans in France, New Zealand, Australia and the United States, whose Department of Homeland Security is working to ensure that a “Freedom Convoy” event due in early March in Washington, D.C., “does not disrupt lawful trade.” read more

U.S. PRESSURE

Adding to earlier calls for action by U.S. officials and business leaders, Biden expressed concerns over auto plant closures and production slowdowns during a phone call with Trudeau, the White House said in a statement.

“The two leaders agreed that the actions of the individuals who are obstructing travel and commerce between our two countries are having significant direct impacts on citizens’ lives and livelihoods,” the statement said.

“The Prime Minister promised quick action in enforcing the law, and the President thanked him for the steps he and other Canadian authorities are taking to restore the open passage of bridges to the United States,” it added.

Trudeau told reporters that he agreed with Biden that the blockades cannot continue. “Everything is on the table because this unlawful activity has to end and it will end,” Trudeau said.

U.S.-Canada cross-border trade in vehicles and core parts totaled $51.5 billion in 2021, IHS Markit estimates.

Biden’s administration had urged Canada to use federal powers to ease the Ambassador Bridge blockade, a step Trudeau’s government has not taken. Trudeau said on Friday his government was not seriously contemplating calling in the military over the protests. read more

The leader of Ontario, where police have avoided using force to disperse protesters, sought to build pressure on Friday by threatening C$100,000 fines and up to a year in prison for non-compliance.

Announcing the penalties as part of emergency measures, Ontario Premier Doug Ford said they were needed to “make crystal clear it is illegal and punishable to block and impede the movement of goods, people and services along critical infrastructure.”

Windsor police issued a statement warning of arrests, but it was not clear if or when authorities would begin issuing fines or seeking jail sentences.

ECONOMIC LOSSES

With car production cuts mounting, Ford, the second-largest U.S. automaker, said on Friday it had temporarily halted work at its assembly plant in Ohio. General Motors and Toyota also announced new production cuts.

The stock of Canadian autoparts maker Magna International (MG.TO) fell 6.4% on Friday after it said it had seen an initial hit from the bridge’s closure. read more

Beyond auto sector losses, the three U.S.-Canada crossings obstructed account for 33% of Canada’s trade with the United States, valued at $616 million per day, Export Development Canada said.

The bridge’s shutdown could worsen the tight supply of new vehicles in the United States and contribute to the already fast-rising price of new vehicles, IHS Markit said in a Friday report. Even if the blockade ends, a return to normal will take several weeks as shortages cascade through the supply chain, IHS Markit said.

Governor Gretchen Whitmer of Michigan, home to nearly a fifth of U.S. car production, told CNN: “The Canadian government has to do whatever it takes to safely and swiftly resolve this.”

($1 = 1.2737 Canadian dollars)

Register now for FREE unlimited access to Reuters.com

Register

Reporting by Kayla Tarnowski and Trevor Hunnicutt; Additional reporting by Steven Scherer and Julie Gordon in Ottawa, Anna Mehler-Paperny in Toronto, Doina Chiacu and David Shepardson in Washington and Ismail Shakil, Kanishka Singh, and Shivansh Tiwary in Bengaluru; Writing by Rami Ayyub; Editing by Karishma Singh, Mark Porter, Grant McCool and William Mallard

Our Standards: The Thomson Reuters Trust Principles.

Read original article here

S&P Global, IHS win U.S. antitrust approval for $44 billion deal with conditions

WASHINGTON, Nov 12 (Reuters) – Business information provider S&P Global Inc (SPGI.N) and IHS Markit Ltd (INFO.N) have won U.S. antitrust approval for their planned merger, on condition it sell some businesses and scrap a non-compete agreement with GasBuddy, the Justice Department said in a statement.

The $44 billion deal was initially announced in November 2020.

To win approval for the deal, the companies agreed to sell three of IHS Markit’s price reporting agency (PRA) businesses. The department said the businesses are: Oil Price Information Services (OPIS); Coals, Metals, and Mining (CMM); and PetrochemWire (PCW).

The businesses will be bought by News Corp (NWSA.O) under a $1.15 billion deal reached in August. read more

In a court filing, the Justice Department said that S&P Global and IHS are a small number of companies that provide PRA services and “compete vigorously in each of the relevant markets, resulting in lower prices and increased quality and innovation for PRA customers.”

One of them, OPIS, collects and sells information related to U.S. retail gasoline prices. GasBuddy has been one of OPIS’ main sources of data since 2009. Since 2016, OPIS has had exclusive rights to GasBuddy’s data for 20 years.

Because of the agreement, GasBuddy, which uses crowdsourced information to help people find deals on retail gasoline, has been stopped from creating a service to compete with OPIS, the department said.

“The divestitures will preserve competition for PRA (price reporting agency) services, which are vital to the proper functioning of commodity markets and promote transparency in the financial markets,” Richard Powers, acting head of the Justice Department’s Antitrust Division, said in a statement.

GasBuddy parent company PDI praised the Justice Department settlement and said “once the waiver clears, we look forward to providing petroleum marketers and wholesalers with a compelling pricing solution, through the 1 million retail fuel price submissions provided by GasBuddies on a daily basis.”

The deal won EU antitrust approval in October, with some of the same conditions. read more

Reporting by Diane Bartz; Additional reporting by David Shepardson; Editing by Diane Craft, Chris Reese, Jonathan Oatis and Daniel Wallis

Our Standards: The Thomson Reuters Trust Principles.

Read original article here