Compiled by Glen Hallick, MarketsFarm
WINNIPEG, April 26 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– As the United States and several other countries ramp up their military aid to Ukraine, Russia Foreign Minister Sergei Lavrov raised the spectre of a nuclear conflict on Tuesday. “The danger is serious. It is real. It should not be underestimated,” Lavrov stated in a Russian TV interview. Over the last few weeks, Russian forces have switched from its inability to capture Kyiv and other major cities, to securing the eastern and southern regions of the country. As well, Russia has increased its missile attacks on the supply depots and railway infrastructure that are critical to Ukraine’s war effort.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– Elon Musk, said to be the richest person in the world, acquired Twitter for US$44 billion on Monday. Previously Musk acquired enough shares to be the social media platform’s largest shareholder. To take Twitter private, Musk agreed to pay US$54.20 per share for a 38 per cent premium. The multi-billionaire will borrow US$25 billion from dozens of financial institutions, including RBC (US$750 million) and CIBC (US$400 million). Musk claims his purchase will guarantee free speech on Twitter. However, human rights groups were highly critical of the control he will have over social media.
– Revenu Quebec said on Tuesday it will further step up its efforts to curtail the use of Ontario addresses by taxpayers whose primary residences are in Quebec. Between 2019 and 2021, the provincial tax agency recovered approximately C$6 million. A CBC report said a Quebecker could pay 6.5 to 23 per cent less tax if they cited an Ontario address as their primary residence.
