Global Markets: Canadian building permits up 10.5 per cent

By MarketsFarm

WINNIPEG, July 10 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

• The value of building permits issued in Canada increased by 10.5 per cent in May compared to the previous month, hitting C$10.5 billion, according to a report from Statistics Canada. Residential permits were up by 8.5 per cent, while non-residential permits rose by 14.2 per cent.

• The Netherlands Prime Minister Mark Rutte has said he will quit politics days after his coalition government collapsed due to a disagreement over asylum policies. Rutte had been one of the longest serving European leaders, but now says he will not seek a fifth term in office.

• Threads, Meta’s new micro-blogging response to Twitter, has already seen more than 100 million users sign up in five days. The social media app is linked to Instagram, which took two-and-a-half years to reach the same milestone after its launch in 2010. Twitter-owner Elon Musk has lashed out at Meta’s Mark Zuckerberg and has also threatened to sue the company.

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