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Global Markets: Facebook Inc. bans spurious political ads

By MarketsFarm

WINNIPEG, Oct. 1 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

Facebook Inc. has banned ads on Facebook and Instagram that question the validity of voting methods or claim widespread voting fraud will occur during the 2020 presidential election. This came a day after U.S. President Donald Trump said the Nov. 3 election will be “rigged” during the first debate on Tuesday night. President Trump has been particularly critical of mail-in ballots.

Early Thursday morning, a spending bill was signed to keep the government open until Dec. 11, according to a tweet from the White House. By funding the government only until early December, Congress leaves the possibility of a funding fight and potential shutdown after the election.

U.S. consumer spending slowed in August, according to a recent report from the Commerce Department. Spending grew by just one per cent. Also, the US$600 weekly unemployment benefit expired in August, which also caused a drop in income. Some economists say, without further government support, the economy will slow significantly during the final quarter of the year.

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