By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Former United States President Donald Trump was found guilty Thursday on all 34 counts pertaining to falsifying documents to cover up hush-money paid to ex-porn star Stormy Daniels. Trump, the presumptive Republican nominee, became the first former U.S. president to be convicted of a felony crime. Following the jury’s unanimous verdict, Trump claimed the trial was “rigged.” He’s scheduled to be sentenced on July 11, and is facing up to four years in prison. Some of his supporters called for riots and violent retribution.
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Global Markets: Canadian GDP slips in May
Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally. Canada’s gross…
- Inflation in the 20 European countries that use the Euro rose 2.6 per cent in May according to the European Union’s statistics agency Eurostat on Friday. In April, inflation was at 2.4 per cent. Reports said the increase is unlikely to stop the European Central Bank from cutting its interest rate next week. However, analysts suggested the ECB will likely hold it rate in July rather than cut it further.
- Mexicans head to the polls on Sunday to elect a new president. Claudia Sheinbaum is poised to be the first woman and first person of Jewish heritage to hold Mexico’s top office. She’s seen to be the heir apparent to outgoing president Andres Manuel Lopez Obrador. Polls placed Sheinbaum with 55 per cent support compared to her nearest rival, Xochitl Galvez at 33 per cent.
- Statistics Canada reported on Friday that the real gross domestic production rose 0.4 per cent in the first quarter of 2024. StatCan said household spending was up 0.7 per cent in Q1 largely due to increased costs for telecommunications, rent and air transport. Also, the agency said the export of goods and services increased 0.5 per cent in the quarter and business capital investment rose 0.8 per cent.
