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Global Markets: Israeli tanks push deep into Rafah

Offensive presses ahead despite ICJ order

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Published: May 28, 2024

By Glen Hallick

 

Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.

 

  • Israeli Defence Forces pressed their offensive into Rafah on Tuesday, as tanks pushed into the beleaguered city located at the southern tip of Gaza. Prior to the IDF’s armoured advance it launched a missile strike near a displacement camp within Rafah. The IDF continued its attack despite the International Court of Justice ordering Israel to halt offensive operations in Rafah.
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  • An early Tuesday morning storm knocked out power to more than 650,000 customers in Texas with more than half of the outages in Dallas County, according to reports. This marked the latest damage from a series of storms that devastated the United States throughout the Memorial Day long weekend. Forecasters said today’s storms are very likely to carry on through the afternoon.

 

  • The Bank of Nova Scotia reported on Tuesday its net income dropped to C$2.09 billion in the second quarter from C$2.15 billion a year ago. Also, Scotiabank’s total revenue during Q2 tallied C$8.35 billion compared to C$7.71 billion last year.

 

  • An online spat developed Tuesday between the head of WhatsApp, Will Cathcart, and X (formerly Twitter) owner Elon Musk, over WhatsApp allegedly sharing its data. Musk accused the Meta-owned messaging app of exporting its “user data every night.” Cathcart retorted on X that messages on WhatsApp are end-to-end encrypted, meaning they can only be read by the sender and the recipient.

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