Global Markets: Pope Francis apologizes for residential school abuses

WINNIPEG – The following is a glance at the news moving markets in Canada and globally.

– Pope Francis apologized for the Roman Catholic Church’s role in the abuses of thousands of Indigenous children in Canada’s residential school system on April 1 after talking with First Nations, Inuit and Metis delegations at the Vatican earlier this week. He said he felt “sorrow and shame” for the abuses, which he called “deplorable conduct”. The Pope also said he hopes to visit Canada around the Feast of St. Anne, which falls on July 26. Many Indigenous leaders believe they should be involved in the planning of a visit and that the Pope should also apologize on Canadian soil.

– The Canadian government has loosened international travel restrictions on April 1, with fully vaccinated travelers no longer requiring a negative pre-entry COVID-19 test result to enter Canada by air, land or water. Travelers are still subject to random PCR COVID-19 tests and proof of vaccination is still required.

– Canada’s national carbon price increased C$10 to C$50 per tonne on April 1, despite calls to delay the increase as fuel prices surge due to the Russian invasion of Ukraine. The increase translates to an additional 2.2 cents per litre of gasoline for a total levy of 11 cents. The average price of gasoline on March 31 was C$1.72/L, according to the Canadian Automobile Association.

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