WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– Coalition Avenir Quebec (CAQ), led by incumbent Premier Francois Legault, expanded on its majority in the province’s National Assembly after winning or leading in 89 out of 125 seats in Quebec’s general election on Monday. It was the second consecutive majority win for the party, the first time a party other than the Liberals or Parti Quebecois (PQ) had accomplished the feat since 1956. The Liberals won or led in 23 seats, down four from dissolution, while the PQ lost four seats and was reduced to three. Quebec Solidaire held steady at 11 seats and the Conservative Party of Quebec did not win a seat. Despite twice apologizing for inflammatory comments towards minority groups during the campaign, Legault said in his victory speech he would be a “premier for all Quebecers.”
Read Also
Global Markets: Trump threatens Canada with tariff hike
By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– For the first time in five years, North Korea fired an intermediate-range ballistic missile towards Japan on Tuesday, forcing the latter to issue evacuation notices and suspend trains during the projectile’s flight. The missile landed in the Pacific Ocean and it was North Korea’s fifth round of missile launches in 10 days. Japanese Prime Minister Fumio Kishida told reporters he condemned the launch, calling it “a reckless act.”
– The World Bank forecast on Tuesday that Ukraine’s economy will plunge 35 per cent in 2022 due to Russia’s invasion of the country last February. The World Bank also estimated that rebuilding the country would cost at least US$349 billion, 50 per cent more than the size of Ukraine’s pre-war economy. The global lender previously forecast a 45.1 per cent drop for Ukraine’s economy in June. Meanwhile, Russia’s economy is expected to shrink by 4.5 per cent in 2022 and 3.6 per cent in 2023.
