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Global Markets: Deal with U.S. to send Huawei exec home

Could lead to release of the two Michaels

By MarketsFarm

WINNIPEG, Dec. 4 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– The Wall Street Journal reported on Friday that officials from the United States Department of Justice have been in talks with representatives of Huawei executive Meng Wanzhou. Detained since her December 2018 arrest in Vancouver, Meng has been fighting extradition from Canada to the U.S., where she faces charges of violating that country’s sanctions against Iran. The deal calls for Meng to admit her guilt in exchange for her returning to China. The agreement could also pave the way for China to release Canadians Michael Spavor and Michael Kovrig, who have been detained since shortly after Meng was arrested.

– Friday saw the fourth day of mass demonstrations by striking farm workers in Peru as they demand better wages. One demonstrator was killed on Thursday, allegedly by police, as authorities attempted to remove protestors from blocking a road. The demonstrations have also delayed harvests in Peru and that situation is to intensify as workers from fruit exporter Camposol join the strike today. They are to be followed by workers from agro-exporter Talsa on Friday. Negotiations between the Peruvian government and the farm workers have yet to result in an agreement.

– The Foreign Minister of Kuwait is to make a statement on Friday regarding the three-year regional dispute that’s targeted Qatar. Beginning in June 2017, Saudi Arabia, the United Arab Emirates, Bahrain and Egypt imposed diplomatic, trade and travel restrictions on Qatar, accusing its government of being too cozy with Iran. Among the initial demands from the four Middle East countries was the shutting down of the Qatar-based Al Jazeera news network. Qatar stipulated any deal must respect its sovereignty. Kuwait has been mediating the dispute, along with efforts by the Trump administration.

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