Global Markets: COVID-19 cases surge in U.S.

WINNIPEG, July 26 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– The COVID-19 Delta variant and a standstill in the vaccination rate are both responsible for the increasing number of cases in the United States over the past week. In 48 states, the number of COVID-19 infections jumped by at least 10 per cent and in 34 of those states, the infection rate spiked by at least 50 per cent, according to Johns Hopkins University. As of Sunday, only 49.1 per cent of Americans have been fully vaccinated. “More mitigation is coming. Whether it’s masking, or whether it’s closures or whether it’s your kids having to return to virtual learning, that is coming,” former U.S. Surgeon General Dr. Jerome Adams told NBC’s Meet The Press.

– In a change of heart, Inter Pipeline Ltd. announced on Monday it will not pursue a takeover arrangement with Canadian energy company Pembina Pipeline Corp. Inter Pipeline’s board of directors made the decision despite a vote by shareholders to go ahead with Pembina’s all-stock takeover. Pembina will enter talks with Brookfield Infrastructure Partners LP after the latter also made a takeover bid.

– Tunisia President Kais Saied announced on Sunday night he has suspended the legislature and fired his Prime Minister following nationwide protests over the country’s economic woes and its handling of the coronavirus. While many Tunisians celebrated in the streets after the announcement, critics have accused Saied of threatening democracy. On Monday, security forces entered the national offices of broadcaster Al-Jazeera, demanding for the channel to be shut down.

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