Compiled by MarketsFarm
WINNIPEG, Feb. 2 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- Winter tightened its grip on the United States this week, with Arctic temperatures across the Northern Plains and ice storms in Texas and the Northeast. On Thursday, there were up to 400,000 homes and businesses across Texas without electricity. Icy conditions were reported in Oklahoma, Arkansas, and parts of Tennessee. Also, Connecticut, Maine, Massachusetts, Rhode Island, and Vermont were forecast to receive frigid temperatures, snow, and high winds.
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- Russian Foreign Minister Sergey Lavrov warned Western countries on Thursday to avoid supplying Ukraine with long-range weapons. Recently, the United States announced it will provide Ukraine with the Ground Launched Small Diameter Bomb – a type of guided weapon with a range of 150 kilometers. Meanwhile, former Russian President Dmitry Medvedev said armament manufacturers in Russia will ramp up production during 2023 to inflict a “crushing defeat” on Ukraine. However, Russia also denies its military has any weapon shortages.
- In a move similar to the Cold War strategy of containment, the U.S. announced on Thursday it signed an agreement for military bases in the Philippines. The deal now provides the U.S. with a string of bases and allies to contain any military aggression by China, stretching from Australia in the south to Japan and South Korea to the north. Over the last several years, China has been extending its military power throughout the South China Sea region and making overtures about invading Taiwan.
