Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– Mark Carney will be sworn in as Canada’s 24th Prime Minister at Rideau Hall in Ottawa on Friday. The former governor for the Bank of Canada and the Bank of England was selected overwhelmingly by Liberal Party members as Justin Trudeau’s successor on March 9. However, the next federal election is set to take place this fall at the latest. CBC News reported Carney intends to work with 15 to 20 cabinet members, much less than what Trudeau worked with. However, Foreign Affairs Minister Mélanie Joly, Finance Minister Dominic LeBlanc and Innovation Minister François-Philippe Champagne are expected to stay on.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– A Canadian delegation will meet with their United States counterparts in Washington, D.C. on Thursday in hopes of reducing tensions between the two sides during their trade war. On Thursday, Canada applied retaliatory tariffs on nearly C$30 billion worth of American goods entering Canada. U.S. Commerce Secretary Howard Lutnick praised Mexico and the U.K. for not immediately retaliating against President Trump’s tariffs, adding that those who do, such as Canada, will be met with “strength and power”. Joly will meet with U.S. Secretary of State Marco Rubio in Quebec later today for meetings with their G7 counterparts.
– Russia claimed on Thursday it has retaken the town of Sudzha in Russia’s border region of Kursk from Ukrainian forces. This came hours after President Vladimir Putin visited Russian forces in the area wearing military fatigues. The claim was not independently verified and Ukraine’s military has not yet commented. On the same day, Kremlin aide Yuri Ushakov said on Russian television that a proposed 30-day ceasefire offered by the U.S. would “give nothing” to Russia and only provide a break for Ukraine’s military to regroup. U.S. President Donald Trump threatened to hit Russia with more sanctions if it didn’t accept the ceasefire proposal.
