Global Markets: 12-hour agreement to allow civilians to flee

Compiled by Glen Hallick, MarketsFarm

WINNIPEG, March 7 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Another day, another agreement in Russia’s invasion of Ukraine to allow civilians to flee a number of cities, according to reports on Wednesday. Earlier this week, similar agreements were made, but only to see Russian artillery shell the designated routes the civilians were taking. The latest deal is to provide a 12-hour window for people to get out of the six worst affected areas of Ukraine, according to the country’s deputy prime minister, including Sumy, Izyum and the port city of Mariupol.

– TC Energy Corp. reiterated on Tuesday that the Keystone XL pipeline project is dead. The statement came after Alberta Premier Jason Kenny issued a plea to the United States government to allow the often-troubled project to proceed. Kenny’s comment came after U.S. President Joe Biden affirmed all oil imports from Russia will be banned.

– The number of multinational companies ceasing their operations in Russia is expanding. The latest reports said that Coca-Cola and PepsiCo are joining McDonald’s and Starbuck’s in suspending their business in Russia as their response to the invasion of Ukraine. Earlier this week, Yum! Brands closed more than 1,000 Kentucky Fried Chicken and Pizza Huts in Russia.

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