By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- The possibility of a federal election in Canada coming earlier than expected increased on Wednesday when the opposition New Democratic Party terminated its supply-and-confidence agreement with the governing Liberals. In a social media video, NDP leader Jagmeet Singh criticized Prime Minister Justin Trudeau of consistently siding with corporate interests and warned of deep spending cuts should Conservative leader Pierre Poilievre become prime minister. The deal to prop up the Liberal minority government until June 2025 was in exchange for national pharmacare and dental programs as well as several other initiatives.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
- China continued to expand its influence on Thursday when President Xi Jinping announced a US$50.7 billion three-year program for African countries at the China-Africa Co-operation Summit in Beijing. The financial assistance, of mostly credit lines, would be directed at infrastructure programs on the natural resource-rich continent with the aim of improved trade connections to China. At the previous summit in 2021, Xi announced a US$10 billion program for Africa.
- Nippon Steel’s US$14.9 billion bid to acquire United States Steel was dealt a severe blow on Wednesday when the Biden administration said in a letter that the deal posed a national security risk. Reports said news of the letter came after Vice-President Kamala Harris and former President Donald Trump promised to kill the sale should they be elected president. Nippon and U.S. Steel retorted that killing the deal would lead to closing of the latter’s steel mills and the loss of American jobs.
- French President Emmanuel Macron looked to the political right to resolve a two-month-old political deadlock in naming a new prime minister. Macron put forth Michel Barnier of The Republicans to form a government. Barnier was the European Union’s chief Brexit negotiator. The recent upheaval in French politics came after the left-leaning New Popular Front won the most seats in a snap parliamentary election.
