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CANADA: Minister Orders Binding Arbitration To Resolve Rail Strike

CANADA
  • Labour Minister Steven McKinnon tells reporters he is using legal authority to put Canadian Pacific Kansas City and Canadian National workers and managers into binding arbitration, and to extend current labor agreements until new ones take affect.
  • Strike and lockout began earlier today, threatening billions of dollars of exports and economists estimating a weeklong strike would dent quarterly GDP.
  • It's unclear exactly when trains will resume normal operations, minister said.
  • The move is "in the national interest" and needed to provide "stability and certainty" for the economy, he said.
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

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