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11-010-XIB |
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Economic events in August CanadaA massive power outage on August 14 left 50 million people in Ontario and the north-eastern US without electricity for a day. A state of emergency was declared in Ontario with the manufacturing and industrial sectors requested to cut power consumption by 50% in the following week. Non-essential government workers were sent home for the week as soaring temperatures put further strain on the recovering power supply. Over 900 forest fires raged throughout the southern interior of British Columbia, damaging the forestry, tourism, and agriculture industries. Inco reached an agreement with its 3,300 striking Ontario workers to end a dispute that began June 1 and helped drive nickel prices to a three-year high. WorldRecord high temperatures in most of Europe resulted in power shortages, supply disruptions and thousands of heat-related deaths. The US partially re-opened its borders to Canadian beef and began accepting boneless beef from cattle under 30 months of age. |
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