The Globe and Mail

May 29, 2024
Top News

Nathan Denette/The Canadian Press

The union representing Canada’s auto workers sees the push to build up the supply chain for electric vehicles as key to a renaissance for its members, as car and truck assembly gets retooled for a new era.

Massive investments announced by automakers and their suppliers wagering on a future wave of electrification have breathed new life into manufacturing, says Angelo DiCaro, the director of research for Unifor, the country’s largest private-sector union.

“So it means everything for 20,000 Unifor members and it’s going to mean everything for 10,000-plus members at Toyota and Honda. It’s very significant what’s happening here,” Mr. DiCaro said.

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Oil Price Update

CHINA STRINGER NETWORK/Reuters

Oil prices eased about 1% on Wednesday on worries over weak U.S. gasoline demand and economic data that could cause the U.S. Federal Reserve to keep interest rates higher for longer.

High interest rates used to tackle lingering inflation can weigh on economic growth and reduce demand for oil.

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