🚄 Canada Just Averted A Major Crisis...

Good morning. US stock futures moved higher in Friday morning trading as investors await an all-important policy speech from Fed Chair Jerome Powell for any guidance on future rate cuts.

🚆 Canadian trains to roll again as govt averts massive strike

📝 Our report: Canada’s two biggest railways are gearing up to roll again after PM Justin Trudeau stepped in to put the brakes on a labor dispute. Canadian Labor Minister Steven MacKinnon said that he has asked the Canada Industrial Relations Board to impose binding arbitration on Canadian National Railway Co., Canadian Pacific Kansas City Ltd. and the Teamsters union. He also ordered the board to direct the parties to extend their current labor contract, and said the railways should resume operations “forthwith.”

 🔑 Key points:

• Canadian Pacific and Canadian National both issued statements saying they were preparing to restart operations following MacKinnon’s announcement.

• The two railways control about 80% of Canada’s rail network, and shutting them down swiftly causes economic harm.

• A two-week lockout would shave as much as C$3 billion ($2.2 billion) from the country’s nominal gross domestic product, including a C$1.3 billion hit to labor income and a C$1.25 billion loss to corporate profits, the Conference Board of Canada said.

💡 So what: Averting a major strike in Canada's railroads brings several positive outcomes, including maintaining economic stability by ensuring uninterrupted supply chains, allowing businesses to operate smoothly without costly delays, and keeping consumer prices stable by preventing shortages. It also boosts investor confidence in Canada’s infrastructure, preserves the environmental benefits of rail transport, enhances public safety by avoiding disruptions, and fosters better labor relations, demonstrating a commitment to addressing worker concerns collaboratively.

Friday - Fed Chair Jerome Powell Speech at Jackson Hole Retreat

📈 Billionaire George Soros shares these 4 investing tips!

💰 5 steps to take when planning for retirement

😑 Follow these tips to handle difficult conversations at work!

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🚗 BMW passes Tesla to lead EV sales in Europe

WHAT: For the first time, BMW has overtaken Tesla to lead the European electric vehicle market, showing the U.S. automaker how it's done, according to research firm JATO Dynamics. The German auto giant sold 14,869 BEV cars in July, about 300 more than Tesla last month.

WHY: Tesla, the world's most valuable automaker, remains the dominant player, but traditional automakers such as BMW and Volvo are gaining ground due to uncertainties surrounding EV subsidies and incentives.

🛒 Amazon to face antitrust lawsuit in DC

WHAT: A D.C. appeals court just revived a lawsuit against Amazon, ruling that the district's claim that its pricing policies stifle competition might actually hold water. The District of Columbia Court of Appeals reversed a ruling that had dismissed the lawsuit, which accuses Amazon of harming competition through restrictions on its suppliers and third-party sellers on Amazon.com.

WHY: D.C. sued Amazon in May 2021 claiming Amazon effectively bans third party sellers from offering products for less elsewhere by refusing to highlight their listings if they do. The lawsuit also claims Amazon has agreements with wholesalers that guarantee it a minimum profit.

🎵 Nepal lifts TikTok ban

WHAT: Nepal has lifted its ban on TikTok, welcoming back the Chinese-owned app after a nine-month timeout for "disturbing social harmony." The decision was taken at a cabinet meeting after the company agreed to cooperate with Nepal's law enforcers to address TikTok-related crime and regulate its content, a government source said on condition of anonymity.

WHY: Several other countries have either partially or completely banned TikTok, with many citing national security and privacy concerns.

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