Current Affairs
August 25, 2024
Drone Espionage
Covestro, Holcim help German investigators after drone flights over plants
Published 08/23/2024, 06:49 AM
Updated 08/23/2024, 08:13 AM
© Reuters.
By Friederike Heine and Paolo Laudani
GDANSK/BERLIN (Reuters) – German chemicals group Covestro and Swiss cement maker Holcim (SIX:HOLN) said on Friday they were helping Germany probe suspected espionage after drones were flown over industrial sites.
Prosecutors said on Thursday they had opened an investigation into repeated drone flights over critical infrastructure in northern Germany that were suspected of spying for sabotage purposes.
The German military’s Territorial Command, responsible for domestic military bases, said it had complied with a police request to provide radar data on the suspicious drone flights.
Covestro and Holcim are among a group of chemical, energy and logistics companies that have operations in the ChemCoast Park industrial area in Brunsbuettel in the northern state of Schleswig-Holstein.
“At the request of the authorities, we are providing support in their investigations,” Covestro said in an emailed response to Reuters.
Holcim said it was in close dialogue with the authorities and had not taken any further measures.
German oil and gas company Wintershall Dea said it was not aware of any drone flights over its extraction operations in Brunsbuettel, but added it was monitoring the situation closely.
The prosecutor’s office declined to provide updates on the investigation on Friday, while criminal and state police did not reply to requests for comment.
On Thursday, Bild newspaper cited state criminal police as saying the drones in question were likely to have been Russian Orlan-10s, which have a range of 500-600 kilometres (310-372 miles) and can fly at over 100 kph (62 mph).
Germany, one of Ukraine’s biggest suppliers of military aid since Russia’s invasion in 2022, has been on increased alert over sabotage activity. Earlier this month authorities sealed off a military base near Cologne on suspicion of contaminated tap water that turned out to be false.
In April, two German-Russian nationals were arrested on suspicion of plotting sabotage attacks, in what officials called a serious effort to undermine military support for Ukraine.
August 23, 2024
Canada Rail Strike Update
Canadian Labor Minister Puts End To National Railroad Strike, Orders Arbitration
by Tyler Durden
Friday, Aug 23, 2024 – 08:35 AM
Authored by David Lassen via Trains.com,
The Canadian government has moved to end Canada’s freight rail work stoppage – the first to shut down both Canadian National and Canadian Pacific Kansas City simultaneously.
However, while the two railroads say they are preparing to resume operations after Labor Minister Steven MacKinnon sent the dispute to binding arbitration, the Teamsters Canada Rail Conference says it will maintain picket lines while it reviews MacKinnon’s action.
And the CBC reports that MacKinnon’s move might not bring an immediate end to the lockouts of TCRC engineers and conductors that began at the two railroads at 12:01 a.m. today (Aug. 22).
Also locked out were rail traffic controllers at CPKC represented by the same union.
“These collective bargaining negotiations belong to CN Rail, CPKC and TCRC alone — but their effects, and the impacts of the current impasse, are being borne by all Canadians,” MacKinnon said.
“As Minister of Labour, it is my assessment that the parties are at a fundamental impasse. Therefore, it is my duty and responsibility to invoke my authorities under the Canada Labour Code to secure industrial peace and deliver the short and long-term solutions that are in the national interest.”
The existing contracts between the TCRC and both railways will be extended until new agreements are signed. Negotiated agreements are always preferable, MacKinnon said, but the needs of the nation outweighed the need for a contract deal reached at the bargaining table.
“Workers, farmers, commuters and businesses rely on Canada’s railways everyday, and will continue to do so. It is the government’s duty and responsibility to ensure industrial peace in this critically vital sector,” MacKinnon said.
“Thus, we will be examining why we experience repeated conflicts in the railway sector and the conditions that led to the parallel work stoppages we are seeing. Canadians can be assured that their government will not allow them to suffer when parties do not fulfill their responsibility. Especially where their livelihoods, worker safety, and communities are at stake.”
CN said in a statement this evening that it had ended its lockout as of 6 p.m. ET and initiated its recovery plan, acting in advance of a formal order from the Canada Industrial Relations Board “to expedite the recovery of the economy.
“While CN is satisfied that this labour conflict has ended and that it can get back to its role of powering the economy,” the railroad said in its statement, “the company is disappointed that a negotiated deal could not be achieved at the bargaining table despite its best efforts.
CPKC said it is preparing to restart operations and will provide further details about the timing once it receives the CIRB’s order.
“The Canadian government has recognized the immense consequences of a railway work stoppage for the Canadian economy, North American supply chains. and all Canadians,” CPKC CEO Keith Creel said in a statement.
“The government has acted to protect Canada’s national interest. We regret that the government had to intervene because we fundamentally believe in and respect collective bargaining; however, given the stakes for all involved, this situation required action.”
The TCRC said it was keeping picket lines in place while it reviewed MacKinnon’s move, the response by the CIRB, and sought legal counsel.
The union’s president, Paul Boucher, said the government’s action “allowed CN and CPKC to sidestep a union determined to protect rail safety. Despite claiming to value and honour 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. “
Boucher called the decision “shameful” and said the government had made the decision “only because they knew their minority could not gather the support needed to pass a legislated resolution to appease the railways.”
Meanwhile, Lisa Raitt, labor minister under former prime minister Stephen Harper, told the CBC that the parties still have to agree to arbitration: “Maybe you can write to the CIRB and ask them to impose binding arbitration … but there’s no way a minister can write a letter and say that everyone goes back to work and I’m sending you to binding arbitration.”
MacKinnon said he is “confident” that his move will end the shutdown, but hedged in saying it would definitely do so, noting that the CIRB is an independent body.
“They have a process that requires consultation with the parties,” he said.
“They will be doing that and rendering a decision, I hope very quickly. … I want to be deferential to the process that will unfold.”
CN and CPKC had both sought arbitration to end the dispute, with MacKinnon last week denying a request from CN to require arbitration. At the time, MacKinnon said it was the “shared responsibility” of CN and the union to negotiate in good faith.
Prime Minister Justin Trudeau said in a post on X.com that while collective bargaining is preferred:
“When that is no longer a foreseeable option — when we are facing serious consequences to our supply chains and the workers who depend on it — governments must act.”
Transport Minister Pablo Rodriguez, reacting to MacKinnon’s move, wrote on X.com that the government “is acting to preserve the stability and certainty that our entire economy is renowned for across the world.”
The premiers of two prairie provinces with economies heavily reliant on rail transport — Scott Moe of Saskatchewan and Danielle Smith of Alberta, who had both called for federal action — welcomed the intervention in comments on X.com.
Moe wrote that the government “took the appropriate action … to end the rail stoppage and ensure our Canadian products are moving to market again.”
Smith wrote that she was “pleased to see” that MacKinnon had taken action.
August 22, 2024
Single Family Rent Units Continue to Grow
Single family built-for-rent starts increase
By Dakota Smith
August 21, 2024 | 10:36 am CDT
According to NAHB’s analysis of data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, there were approximately 23,000 single-family built-for-rent (SFBFR) starts during the second quarter of 2024. This is almost 10% higher than the second quarter of 2023. Over the last four quarters, 83,000 such homes began construction, which is a more than 20% increase compared to the 69,000 estimated SFBFR starts in the four quarters before that period.
The SFBFR market is a source of inventory amid challenges over housing affordability and down payment requirements in the for-sale market, particularly during a period when a growing number of people want more space and a single-family structure. Single-family built-for-rent construction differs in terms of structural characteristics compared to other newly built single-family homes, particularly concerning home size. However, investor demand for single-family homes, both existing and new, has cooled with higher interest rates. Nonetheless, builders continue to build projects of built-for-rent homes for their operation.
Given the relatively small size of this market segment, the quarter-to-quarter movements typically are not statistically significant. The current four-quarter moving average of market share (8%) is nonetheless higher than the historical average of 2.7% (1992-2012).
Importantly, as measured for this analysis, the estimates noted above include only homes built and held by the builder for rental purposes. The estimates exclude homes that are sold to another party for rental purposes, which NAHB estimates may represent another three to five percent of single-family starts based on industry surveys.
The Census data notes an elevated share of single-family homes built as condos (non-fee simple), with this share averaging more than 3% over recent quarters. Some, but certainly not all, of these homes will be used for rental purposes. Additionally, it is theoretically possible some single-family built-for-rent units are being counted in multifamily starts, as a form of “horizontal multifamily,” given these units are often built on a single plot of land. However, spot checks by NAHB with permitting offices indicate no evidence of this data issue occurring.
Nonetheless, demand by investors for single-family rental units, new and existing, has cooled in recent quarters as financial conditions remain tight. This will continue to cool some investor demand for SFBFR housing.
With the onset of the Great Recession and declines in the homeownership rate, the share of built-for-rent homes increased in the years after the recession. While the market share of SFBFR homes is small, it has expanded. Given affordability challenges in the for-sale market, the SFBFR market will likely retain an elevated market share even as the sector cools in the quarters ahead.
August 22, 2024
Canada Rail
Over the last nine months, CN has attempted to negotiate with the TCRC in good faith. The Company has proposed serious offers, never compromising safety, with better pay, improved rest, and more predictable schedules. With a work stoppage looming, we made one last offer to the TCRC on Wednesday, August 21 in a final attempt to reach an agreement. The union has not responded.
CN has now locked out employees represented by the TCRC as of August 22, 00:01 ET. Until CN and the TCRC come to an agreement, or binding arbitration is imposed, all train movements within Canada and between Canada and the United States have ceased.
This decision to halt operations in a planned and phased approach was made to ensure the safety of the network and the communities in which we operate. It is not a decision that was taken lightly. It does however enable us to ensure a safe and orderly shutdown and optimize the eventual resumption of services once the labour disruption has ended.
What this means for you
Embargo information has been shared over the past week and the latest on embargoes can be found on www.cn.ca/TCRCinfo. We understand the impacts of this stoppage on our customers and the Canadian economy, particularly ahead of peak fall volumes. We will continue to strive for an agreement with the Union and implore them to work with us to find a swift resolution and end the stoppage. In the absence of a path forward, we call on the government to act in the interest of all Canadians, Canadian jobs, and the economy to mandate the parties into binding arbitration.
Updates will be provided as the situation evolves. As always, consult www.cn.ca/TCRCinfo for the most up to date information.
Thank you for your collaboration and trust.
CN Sales and Marketing
August 21, 2024
Canadian Housing Starts
Housing starts in Canada increase in July
By Dakota Smith
August 20, 2024 | 9:05 am CDT
Housing starts in Canada saw a notable increase in July 2024, with the seasonally adjusted annual rate (SAAR) rising by 16 percent to 279,509 units, up from 241,643 units in June, according to the Canada Mortgage and Housing Corporation (CMHC).
The six-month trend in housing starts also climbed 3.2 percent, reaching 255,783 units in July, compared to 247,840 units in June. This trend measure is a six-month moving average of the SAAR of total housing starts across all areas in Canada.
In urban centers with populations of 10,000 or more, actual housing starts for the year to date (January to July) reached 132,823 units in 2024, a 7.5 percent increase from the 123,593 units recorded during the same period in 2023.
“Both the SAAR and Trend of housing starts increased in July. This was due to growth in actual year-over-year starts, driven by higher multi-unit starts, particularly in Calgary and Ottawa,” said Bob Dugan, CMHC’s chief economist. “As the national housing shortage continues, developers remain focused on multi-unit construction in Canada’s major centers.”
https://www.woodworkingnetwork.com/news/canadian-news/housing-starts-canada-increase-july
Everchem Updates Archive 
Sign Up for Email Updates