By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- As record heat continued to bring scorching temperatures on Friday to regions of the Northern Hemisphere, the death toll has risen into the thousands of people. Hundreds of Muslim pilgrims died at or near the Grand Mosque in Mecca, while the extreme heat killed more than 500 in Egypt. In the Balkans, temperatures are forecast to be around 40 degrees Celsius, with more heat throughout much of Europe. Extreme temperatures are being felt in the United States and India.
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Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally. United States…
- Statistics Canada reported on Friday that retail sales in April rose 0.7 per cent from March at C$66.8 billion. That included a 1.4 per cent increase in core retail sales and a 4.5 per cent jump in sales at gasoline stations and fuel vendors. The largest declines were a 2.9 per cent drop in sales at new car dealers and a fall of 2.2 per cent for sales of motor vehicles and parts dealers. A preliminary estimate from StatCan projected May retail sales dropping back 0.6 per cent.
- Ukraine struck back at Russia with a series of drone attacks on Friday, targeting four oil refineries, radar stations, electronic intelligence centers, and other military targets, according to reports. Ukraine launched almost 120 drones towards targets along the Black Sea, the Crimean Peninsula, as well as Russia’s Krasnodar and Volgograd regions. Earlier this week, Russia attacked a number of power facilities in Ukraine.
- Informal nuclear arms talks between the United States and China resumed for the first time in five years on Friday, according to reports. Representatives from China assured their U.S. counterparts that they wouldn’t resort to nuclear threats over Taiwan. Tensions between the U.S. and China have been heightened as the latter continued to threaten Taiwan. Such informal talks often include retired foreign affair officials and former high ranking military personnel charged with speaking on the behalf of their governments.
