Global Markets: Air Canada CEO announces retirement

By MarketsFarm

WINNIPEG, Oct. 16 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

Air Canada’s top executive Colin Rovinescu has announced he will retire next year, after leading the company for over a decade. The company’s deputy chief executive and chief financial officer, Michael Rousseau, has been named as his successor. Air Canada posted a C$1.7 billion loss in the second quarter of 2020 due to COVID-19 decimating the travel industry and grounding many planes.

United States President Donald Trump and Democratic Presidential Nominee Joe Biden held separate competing town halls last night. Trump’s COVID-19 diagnosis precluded a second presidential debate, as he refused to participate in a virtual debate, which would have been the safest solution for all involved. While Trump argued with his host Savannah Guthrie, Biden delved into the minutia of his tax plan, which includes rolling back tax cuts for the wealthiest Americans. The two are still scheduled to debate in Nashville next week.

Hundreds of imprisoned Yemeni people were released back to their internationally recognized government from Houthi rebels in an effort to quell the five-year conflict in the region. In total, over 1,000 people will be exchanged between the two groups. A military coalition led by Saudi Arabia backs the Yemeni government, while the country’s Houthi reels control the capital city and northern regions of the country.

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