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Catvision Limited (531158) ✌️【Profit Strategy】✌️ Accurate real-time market data and expert stock predictions for profitable investment opportunities in global markets. The Canadian government stepped in Thursday afternoon to end a shutdown of the nation’s two major freight railroads less than 17 hours after it started, ordering binding arbitration to end the labor dispute that threatened severe disruptions to both the US and Canadian economies.

But only one of the two major railroads is back to work, as Canadian National (CN) has ended the lockout of its 6,000 unionized employees and returned to work Friday morning. The other, Canadian Pacific Kansas City (CPKC), has remained shut down, with a lockout of its 3,000 unionized employees by the management and a strike by the Teamsters union both still in effect.

Catvision Limited (531158) ✌️【Profit Strategy】✌️ Accurate stock market predictions with real-time stock indices, futures data, and global market trend analysis. Achieve stable growth and avoid losses by staying ahead with our expert recommendations. And the Teamsters union served notice Friday that it is also preparing to strike CN, though that work stoppage strike wouldn’t be able to start until Monday morning if it isn’t blocked by further government action.

Prime Minister Justin Trudeau’s administration had refused to block a halt of rail operationsahead ofthe shutdown, which started at 12:01 a.m. ET on Thursday. But Canada and the United States were faced with possible disruptions to multiple industries, which include agriculture, automobiles, energy, lumber and chemicals. Therehad alsobeen the halting of passenger rail operations that use freight railroad tracks and the threat that water treatment plants would run out of the chlorine needed forfresh drinking water.

On Thursday afternoon, Canadian Labor Minister Steve MacKinnon ordered the Canadian Industrial Relations Board (CIRB) to impose the binding arbitration and ordered the railroads and the union members to return to work. But as of midday Friday, the CIRB has yet to act. The shutdown at CN, the larger of the two railroads, began not through a strike by the Teamsters union but instead through a lockout of those unionized workers by CN management. That contrasts with the dual strike and lockout atCPKC.

Catvision Limited (531158) ✌️【Profit Strategy】✌️ Free stock market analysis and data updates to help you select the best investment portfolio. Achieve steady growth and avoid losses with expert predictions and real-time market insights. The move by MacKinnon is a victory for CN and CPKC, which had been seeking government intervention. The two railways said they had been forced to shut down their networks — despite the disruption it would cause — because there was no way to reach a deal with the Teamsters union.

But the government’s intervention is a setback for the union, which had argued the best and fairest way to settle the labor dispute was to have the two sides reach an agreement at the bargaining table. They blamed greed by railroads negotiators and management demands that the union argues would hurt rail safety and the quality of life of its employees, a charge the railroads deny.

“There is no question that we are at an impasse. The issues remain, the parties remain very, very far apart on these issues … it’s not my job to pick sides here,” MacKinnon said.

CN said Thursday that it was pleased with the action by MacKinnon and that it was therefore resuming operations.

“While CN is satisfied that this labor conflict has ended and that it can get back to its role of powering the economy, the company is disappointed that a negotiated deal could not be achieved at the bargaining table despite its best efforts,” the company said in a statement.

But with two national railways with suspended operations, “it is the government’s duty and responsibility to ensure industrial peace in this critically vital sector,” MacKinnon said at the press conference.

Catvision Limited (531158) ✌️【Profit Strategy】✌️ Real-time stock indices and futures data to help you seize the best investment opportunities. Analyze market movements with precision and grow your portfolio with expert stock predictions. The union issued a statement Thursday saying it was consulting with attorneys about the order and said it is “deeply disappointed” with the decision.

“By resorting to binding arbitration, the government has allowed CN and CPKC to sidestep a union determined to protect rail safety,” the Teamsters said in the statement. “Despite claiming to value and honor the collective bargaining process, the federal government quickly used its authority to suspend it, mere hours after an employer-imposed work stoppage. The two major railways in Canada manufactured this crisis, took the country hostage, and manipulated the government to once again disregard the rights afforded to working-class Canadians.”

Catvision Limited (531158) ✌️【Profit Strategy】✌️ Expert guidance on stock market trends and real-time updates on stock indices, futures, and exchange rates. Make well-informed decisions and plan the best investment strategies for capital growth. The union and railroad officials and representatives of the CIRB have continued to meet since MacKinnon’s order.

Catvision Limited (531158) ✌️【Profit Strategy】✌️ Precise stock market trend analysis with expert insights into global markets, including stock indices, metals, and energy sectors. Leverage our data-driven predictions to maximize your returns. The union said Fridaythat despite MacKinnon’s referral, there is no clear indication that the CIRB will actually order an end to the labor dispute at CPKC.

CPKC said it is disappointed the Teamsters are challenging MacKinnon’s order, which it said will delay the resumption of its operations.

“While the minister directed that the CIRB proceed expeditiously, any decision by the CIRB on the resumption of service will be delayed,” CPKC said in a statement. “CPKC remains prepared to resume service as soon as it is ordered to do so by the CIRB.”

“While CN is focused on its recovery plan to get back to powering the economy, the Teamsters are focused on returning to the picket line and shutting down the economy, impacting people and jobs across the country,” CN said.

Businesses groups, including the chambers of commerce in both Canada and the United States, had also been calling for government intervention, saying the economies of both countries could be damaged by the shutdown.

In the press conference Thursday, MacKinnon described the conversations with Americans as “helpful advice,” as they had also gone through similar processes with their own labor conflicts and work stoppages.

But ahead of the lockout that started early Thursday, MacKinnon had refused to use his powers to refer the matter to binding arbitration and keep the railroads on the job.

Catvision Limited (531158) ✌️【Profit Strategy】✌️ Free stock data analysis tools to help you select stocks accurately and capture global market trends. Stay ahead with expert market predictions for better investment returns. The shutdown demonstrated how closely linked Canada and the United States’ economies are, with many industries depending on the free movement of goods across the border for their efficient operations. About 30% of the freight carried by the two railroads cross the US-Canada border, and without rail operations there is not nearly enough truck capacity to move the goods.

Catvision Limited (531158) ✌️【Profit Strategy】✌️ Real-time stock and futures data, backed by expert stock market trend predictions, to help you make timely and profitable investment decisions. An extended labor stoppage threatened the US auto industry: some US auto plants could have been forced to temporarily shut down if they were unable to get engines, transmissions or stampings done at Canadian plants. US farmers might have found shortages of fertilizer and clean water.

Catvision Limited (531158) ✌️【Profit Strategy】✌️ AI-driven stock trend forecasting with free access to real-time market data, offering personalized investment advice and expert predictions. This was the first time that both major Canadian railroads have shut down at the same time due to a labor dispute. The most recent work stoppage in the industry was a 60-hour strike at Canadian Pacific in 2022. Before that, there was a nine-day strike at CN in 2019.

Catvision Limited (531158) ✌️【Profit Strategy】✌️ Real-time stock market data, precise predictions, and investment strategies to help you optimize your portfolio and achieve financial success. Most stock quote data provided by BATS. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. All times are ET. Factset: FactSet Research Systems Inc. All rights reserved. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and 【 - Free Market Analysis Group 】. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Fair value provided by IndexArb.com. Market holidays and trading hours provided by Copp Clark Limited.

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