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Global Markets: Canada Post gives “time-limited” offer to employees

By Commodity News Service Canada
WINNIPEG, Nov. 15, 2018 (CNS) – The following is a glance at the news moving markets in Canada and globally.
Canada Post has issued a “time-limited” contract offer to its employees to end the rotating strikes. The four-year offer includes an annual two per cent wage hike and signing bonuses of up to C$1,000 per employee. The proposal is worth roughly C$650 million and has a deadline of Nov. 17 for Canadian Union of Postal Workers members to accept it by.
Suncor Energy Inc. has announced that Steve Williams will retire as chief executive officer in May. Williams has been with Suncor since 2002 and took over as CEO in 2012. Suncor has said that Mark Little, the company’s current chief operating officer, will become president immediately and take over as CEO in May.

British Prime Minister Theresa May is battling to save the draft Brexit deal. Just over 12 hours after May announced her team of top ministers had agreed to terms of the draft agreement, Brexit minister Dominic Raab and work and pensions minister Esther McVey quit, saying they could not support it. There are reports that others are considering quitting as well.

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