Freight trains in Canada could be running again within days after the government forced the country's two major railroads into arbitration with their labor union Thursday, a move aimed at averting potentially dire economic consequences across the country and in the U.S. if the trains are sidelined for a long period.

The government's action came more than 16 hours after Canadian National and CPKC locked out workers over a labor agreement impasse. Both railroads said they would work to get trains moving again as soon as possible.

Global shares traded mixed Friday ahead of a speech by Federal Reserve Chair Jerome Powell that might deliver clues on how quickly and deeply the Fed may cut interest rates.

France's CAC 40 rose 0.3% in early trading to 7,546.93, while Germany's DAX gained 0.4% to 18,563.15. Britain's FTSE 100 added nearly 0.2% to 8,302.17. U.S. shares were set to drift higher with Dow futures up 0.3% at 40,930.00. S&P 500 futures rose 0.4% to 5,614.75.

U.S. Ambassador Lisa A. Johnson toured Friday the Berbara Fishermen Cooperative to view the newly renovated facility, which is now a vibrant destination that drives economic opportunity for the local community.

With support from the United States Government through the United States Agency for International Development (USAID), the Berbara Fishermen Cooperative recently upgraded their infrastructure with a pre-built kiosk and restroom (accessible to People with Disabilities – PWDs); bolstered their operations with a new wastewater treatment unit and kitchen equipment; and built local fishermen's’ expertise in food safety, operations, and management, the U.S. Embassy in Beirut said.

The European Commission vowed Thursday to stand up for Europe's dairy sector, a day after it was targeted in the latest anti-subsidy investigation by Beijing.

The Chinese probe, announced after the EU confirmed its plan for hefty five-year tariffs on Chinese electric vehicles, covers a range of items from fresh cheese and curd to blue cheese, including some milk and cream.

The number of Americans filing for unemployment benefits rose modestly last week, but the level of claims remains at healthy levels.

An Algerian oil tanker set sail Thursday for power-hungry Lebanon, official media said, with 30,000 tons of fuel destined to restart turbines in the country grappling with years of economic meltdown.

Global shares mostly rose Thursday, as market optimism got a boost from a rally on Wall Street on better-than-expected profit reports from major companies.

France's CAC 40 rose 0.4% to 7,556.62 in early trading, while Germany's DAX added 0.4% to 18,515.22. Britain's FTSE 100 rose 0.4% to 8,314.16. U.S. shares were set to drift higher with Dow futures rising 0.1% to 41,055.00. S&P 500 futures gained nearly 0.1% to 5,646.50.

Russian President Vladimir Putin has met with Chinese premier Li Qiang, hailing growing trade relations as Moscow becomes increasingly dependent on Beijing for political and economic support.

"Our trade relations are developing, developing successfully ... The attention that the governments of the two countries on both sides are paying to trade and economic ties is yielding results," Putin said at the meeting in the Kremlin Wednesday.

Businesses across a variety of industries are bracing for freight trains to stop moving Thursday at both major Canadian freight railroads if they can't resolve a contract dispute with the union that represents engineers, conductors and dispatchers.

The impact will be widespread because so many companies rely on Canadian National and CPKC railroads to deliver their raw materials and finished products. Railroads carry more than $1 billion Canadian (US$730 million) worth of goods each day and delivered more than 375 million tons of freight last year.

Japan racked up a 621 billion yen ($4.3 billion) trade deficit in July, as prices of imports surged, according to government data released Wednesday.

Japan's imports grew nearly 17% from a year ago to 10.2 trillion yen ($70.6 billion), while exports grew 10% to 9.6 trillion yen ($66 billion), the Finance Ministry said.