WINNIPEG, July 9 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– Although no date has been set, the United States and China will resume trade talks sometime this week with top officials from both countries participating in a teleconference. The world’s two largest economies have been locked in a trade war for about a year, having imposed steep tariffs on each other. A meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the recent G20 Summit in Japan cleared the way for negotiations to restart after ending in acrimony and tariff hikes two months ago.
– Investors doubt the financially troubled Deutsche Bank can turn things around as share prices have fallen 12 per cent since July 7. In a rebuilding effort, the investment bank announced plans to lay-off 18,000 employees world-wide in an effort to save about US$8.3 billion. Also, Deutsche Bank will focus on corporate banking and asset and wealth management.
– The Council of the Federation, comprised of Canada’s 13 provincial and territorial premiers, are scheduled to meet with Indigenous leaders today at Big River First Nation, Sask. The meeting will include the Assembly of First Nations and other Indigenous groups, but the Metis National Council and Inuit Tapiriit Kanatami have refused to attend. After today, the Council of the Federation then heads to Saskatoon for two days of talks on interprovincial trade, labour, health care, climate policy and immigration.