WINNIPEG, May 25 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– China accused the United States of trying to create a new Cold War. China’s foreign minister said the Trump administration has been blaming China for the COVID-19 pandemic, been critical of its handling of pro-democracy protests in Hong Kong, and warned it not to threatened Taiwan’s independence. China has long considered Taiwan to be part of the country.
– In the U.S., Americans turned out in droves to celebrate the Memorial Day long weekend after all 50 states have relaxed COVID-19 lockdown restrictions in varying degrees. There were reports of beaches packed with people, with little social distancing, in states along the Gulf of Mexico. Also there have been spikes in reported cases in Tennessee, Louisiana, and Texas. The U.S. leads the world in reported cases at nearly 1.65 million with approximately 100,000 deaths, according to Johns Hopkins University.
– Bayer AG, which owns Monsanto, reached a verbal agreement on the Roundup weedkiller lawsuits. Of the estimated 125,000 cases in the U.S., the deal reportedly will cover 50,000 to 85,000 with payments to individuals ranging from a few thousand to millions dollars. A written agreement is pending.