Here are five things you need to know this morning
Air Canada reaches deal with attendants: Air Canada has reached a tentative labour agreement with flight attendants to end a three-day strike that forced the airline to cancel its entire schedule. The deal was reached early this morning after a negotiation lasted several hours. Terms of the agreement have not been announced. Air Canada says it plans to gradually resume service with the first flights returning this evening. Roughly 10,000 flight attendants walked off the job on Saturday.
Inflation slows: Inflation in Canada slowed in July, as gasoline prices plunged. The consumer price index rose 1.7 per cent from a year ago, down from June’s 1.9 per cent increase. July’s deceleration was led by gasoline prices, which fell 16.1 per cent from a year earlier, reflecting the removal of the consumer carbon tax. However, food prices grew faster in July, jumping 3.4 per cent. Unfavorable weather in cocoa and coffee-growing regions led to higher prices for products using those ingredients.
Home Depot misses estimates: Home Depot is sticking with its full-year outlook, even as the company came in slightly shy of Wall Street’s expectations for quarterly earnings and revenue. The report is Home Depot’s first since May 2014 to fall short on both earnings and revenue estimates. The miss in the quarter comes as consumers avoid big purchases amid uncertainty in the economy. Home Depot’s chief financial officer says the uncertainty is forcing consumers to take on smaller projects instead.
Trump widens steel and aluminum tariffs: U.S. President Donald Trump is widening his steel and aluminum tariffs to include more than 400 consumer items that contain the metals, such as motorcycles and tableware. The scope and implementation speed of this latest notice took many by surprise. The new list includes auto parts, chemicals, plastics and furniture components, demonstrating the reach of Trump’s authority to use sectoral tariffs. That is separate from the executive power he invoked for his so-called reciprocal tariffs.
Fix your iPhone yourself: Canadians frustrated trying to get their iPhones fixed now have a new option – do it themselves. Apple has launched its program that helps customers in Canada get the parts, tools and manuals they need to fix their own devices. Under the program, customers pay for any parts and rent or buy tools necessary to make repairs. They also get access to manuals and diagnostic software that help troubleshoot issues. Once a customer finishes their repair, they can receive a credit when they return their used or damaged parts to be refurbished or recycled responsibly.
