By MarketsFarm
WINNIPEG, Oct. 28 – The following is a glance at the news moving markets in Canada and globally.
– Elon Musk’s US$44 billion acquisition of Twitter was finalized Thursday after months of legal drama that had seen the billionaire look at backing out of the deal at one point. The company’s CEO and CFO along with other members of the leadership team were dismissed from the company within hours of Musk’s takeover.
– The European Union will ban the sale of new gasoline cars and vans by 2035 under a deal reached Thursday. Before getting to 100 per cent, automakers must reduce emissions in new vehicles sold by 55 per cent in 2030 compared to 2021. The agreement must still be formally approved by the European Parliament and its member countries before it goes into force.
– Canada’s gross domestic product was up by 0.1 per cent in August, according to a report from Statistics Canada, with early indications pointing to a similar monthly gain in September. Growth in the services industry was reportedly offset by declines in goods producing industries.
