Global Markets: O’Toole wins Conservative leadership race

By MarketsFarm

WINNIPEG, Aug. 24 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Former Veterans’ Affairs Minister Erin O’Toole emerged as the winner of the Conservative Party of Canada’s leadership race on Sunday after three rounds of ballot counting. There was a six-hour delay to tallying of the votes as a machine used to open the mail-in ballots destroyed up to 4,000 envelopes. The eight-year Ontario MP, who is also a lawyer and a former Royal Canadian Air Force officer, billed himself as a ‘true blue Conservative’ in contrast to frontrunner and former cabinet minister Peter McKay, a moderate. In the preferential balloting system, O’Toole received a great deal of support from supporters of fellow leadership candidates Leslyn Lewis and Derek Sloan.

– Protests erupted in Wisconsin following the shooting of an African-American man by police on Sunday. Video shows a man, said to be Jacob Blake, was shot several times by members of the Kenosha Police Department as he attempted get into his vehicle, when walking away from them. Reports stated Blake apparently broke up a fight between to women when police arrived. Wisconsin Governor Tony Evers condemned the shooting. During the protests a number of vehicles were set ablaze.

– A group of former United States Federal Reserve staffers sent a letter on Friday to U.S. senators calling on them to quash the nomination of Judy Shelton, a long-time critic of the Fed, to the central bank’s board. The economists, lawyers and bank presidents behind the letter said Shelton is unfit to serve on the board, due to her beliefs in returning the U.S. dollar to the gold standard and eliminating the central bank. Should four Republicans vote with the Democrats, Shelton’s nomination would be defeated. Already two Republican senators, Mitt Romney and Susan Collins, said they would vote against Shelton, with a third senator, Lamar Alexander unsure of which way he’s going to vote.

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