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CN Strike Could Leave $2.3 Billion Hole in Canadian Economy: TD
The rail strike that began this week would take a multibillion dollar toll on Canada’s economy if it’s not resolved by the time parliament resumes sitting next month. Conductors and yard operators at Canadian National Railway Co. walked off the job Tuesday, snarling shipments of key exports. Were the disruption to last until Dec. 5, when lawmakers resume work in Ottawa after an election in October, it could crimp output by as much as C$3.1 billion ($2.3 billion), according to an analysis by Toronto-Dominion Bank economists Brian DePratto and Derek Burleton. That’s equivalent to a nearly one-quarter percentage ... (full story)