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Global Markets: Rising minimum wages may cut into jobs

By Commodity News Service Canada

WINNIPEG, Jan. 3 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– North Korea has reopened a hotline on the border with South Korea for the first time in two years, as the two countries move closer to negotiations despite the latest sabre-rattling from the United States.

– Rising minimum wages across Canada could lead to the loss of 60,000 jobs, according to a report from the Bank of Canada.

– Spotify is being sued for US$1.6 billion by Wixen Music Publishing Inc. over claims that the music streaming company is allegedly using thousands of songs without properly licensing the music and compensating the publisher. Wixen collects the royalties for many artists, including Tom Petty and Neil Young, and is seeking damages of US$150,000 for each of the 10,000-plus songs.

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