By Commodity News Service Canada
WINNIPEG, Feb. 22, 2018 – The president of Ford’s North American division is out after allegations of inappropriate behaviour. The company said Raj Nair was leaving the company after an internal review found behaviour that was inconsistent with its code of conduct. Details of the behaviour weren’t announced.
Fourth-quarter profits at Canadian grocery giant Loblaws were down significantly. Revenue was pegged at C$11.03 billion compared to C$11.13 the previous year. The company blamed the setback on the rollout of its PC Optimum loyalty rewards program.
World markets were generally lower on Thursday. Worries over inflation and higher bond yields cast a bearish shadow over most markets. Minutes from a recent meeting of the U.S. Federal Reserve indicated further hikes to the interest rate could also be coming.