Morning roundup: RIM job cuts?; government to end CP strike

By Staff | May 28, 2012 | Last updated on May 28, 2012
2 min read

We’re committed to keeping you and your clients up-to-date with global industry news. Every morning, we offer articles from around the web. Here are some selections:

Job cuts likely at RIM

Slipping BlackBerry sales and other factors are expected to lead to major job cuts at RIM this week. The firm said it lost $125 million in its last quarterly report.

Government may enter CP strike negotiations

A mediator working to resolve the Canadian Pacific strike has walked away from the table and opened the door to back to work legislation. The government’s been looking for a way into the negotiations before the strike’s slowing of goods transport has significant impact on Canada’s economy.

And, in the Euro zone

A new report, still in draft form, accuses the new Italian government of failing to act on its so-called “black economy” and reign in the tax evasion that is crippling public coffers. There are also concerns Greece’s public finances are on the verge of collapse.

And, if that weren’t enough; olive oil, Greece’s principal export, is being hammered by low prices spurred by a bumper crop in Spain. Italy and Spain also will see economic impact from the oversupply.

An eye on growth

China, long the haven of producers of input materials producers trying to ride out the recession, is finally experiencing a slowdown. Growth forecasts for India are also being trimmed.

Key economic indicators due this week include U.S. unemployment numbers, a revision of GDP data and consumer confidence.

Enjoy your day, The Editors staff


The staff of have been covering news for financial advisors since 1998.