Global Markets: Enbridge reaches deal with Spectra energy

By Dave Sims, Commodity News Service Canada

WINNIPEG, Aug 24 (CNS) – Stock markets around the globe
softened Friday, as trade turmoil between China and the United
States cast a gloomy shadow over the investment world. Metals
were particularly affected, dropping multiple percentage points
in the face of reciprocal tariffs launched by the two countries.
The materials sector was also weighed down by the volatility.
Enbridge has agreed to team up with Spectra energy in a
deal worth C$4.3 billion. The two companies own pipelines and

storage facilities for natural gas and crude oil. Enbridge says
the move was made necessary after it lost a key tax allowance in
the U.S.
Transportation workers on the shores of the Arctic Ocean
are calling on the Federal government to buy back the Canadian
Wheat Board. The Union of Canadian Transportation Employees,
which represents Churchill port workers says the community was
badly hurt when the wheat board was sold. A spokesman for the
group notes grain no longer flows through the port, which kept
the port in business. The wheat board was privatized in 2012 and
is owned by G3 Canada Ltd.

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