Global Markets: China orders closure of U.S. consulate

By MarketsFarm

WINNIPEG, July 24 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

In response to the United States demanding China close its consulate in Houston, China has ordered the closure of the U.S. consulate in Chengdu, a city in southwest China. China has also demanded the U.S. close their consulate in Wuhan. This move punctuates the rising tension between the two countries, which have clashed many times over trade and the handling of the COVID-19 pandemic.

Several passengers aboard an Iranian airliner were injured when the pilot had to abruptly change altitude in order to avoid colliding with a U.S. fighter jet over Syria. The plane was headed from Tehran to Beirut on Thursday when the safety maneuver caused some passengers to be dislodged from their seats. “The harassment of a passenger plane on the territory of a third country is a clear violation of aviation security and freedom of civilian aircraft,” said Laya Joneydi, vice president of the airliner’s legal affairs, to Iranian media.

There will be no public inquiry following the deadly mass killing in Nova Scotia that left 22 dead in May. Nova Scotia’s Justice Minister Mark Furey, and federal Minister of Public Safety and Emergency Preparedness Bill Blaire announced a three-member Independent Review of the murders. Unlike a public inquiry, the review panel will not have subpoena power or the ability to compel testimony.

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