WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– After its Victory Day festivities, Russia resumed its attacks on Ukraine by firing missiles at the port city of Odesa on Tuesday. The Ukrainian military said that seven missiles were targeted towards the city, three of which were hypersonic, striking a shopping centre and a warehouse. One person was killed and five were wounded. However, Ukrainian, British and American officials say that Russia is rapidly using up its more precise weapons and may be forced to rely on less accurate weapons in the near future.
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– Yoon Suk Keol was inaugurated as South Korea’s new president on Tuesday. After taking his oath of office, the conservative vowed to pursue a negotiated settlement with North Korea’s nuclear program and offered a plan to improve the North’s economy if it abandoned its weapons. “If North Korea genuinely embarks on a process to complete denuclearization, we are prepared to work with the international community to present an audacious plan that will vastly strengthen North Korea’s economy and improve the quality of life for its people,” he said. There are fears North Korea will soon conduct its first underground nuclear bomb test in five years.
– Ferdinand Marcos Jr., the son of former Philippines dictator Ferdinand Marcos, appeared to be elected as president of the Pacific island nation on Tuesday. Marcos Jr. received 30.5 million votes with 96 per cent of polls reporting, more than twice the number as runner-up human rights activist Leni Robredo. Former world boxing champion Manny Pacquiao was third with 3.5 million votes. Marcos Jr. will be sworn into office on June 30 for a six-year term.
