WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– At least seven people are dead and 11 were wounded after Russian forces fired missiles at the western Ukrainian city of Lviv on Monday. The city previously has not been attacked as much as other cities in the east and also acted as a refuge for other war-torn Ukrainians. Civilian evacuations were halted for a second straight day on Monday due to Russia shelling and blocking humanitarian corridors. Military experts believe the attack on Lviv was in preparation for a new offensive in eastern Ukraine’s Donbas region, while also attempting to capture the port city of Mariupol.
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– Twitter’s board of directors voted in favour of a “poison pill” defence on Friday in response to Tesla CEO Elon Musk’s proposal last week to buy a controlling stake in the social media platform for US$43 billion and take it private. Existing shareholders except for Musk would be able to buy additional shares at a discount in order to dilute Musk’s share in the company. The plan would be enacted if Musk obtains 15 per cent of Twitter’s stock, as opposed to the nine per cent he owns now.
– Heavy rains and resulting floods killed approximately 400 people in South Africa last week. The rains hit the province of Kwazulu-Natal on South Africa’s east coast on Saturday, which already shut off power lines and disrupted operations at the port in Durban. South Africa President Cyril Ramaphosa called the floods a “catastrophe of enormous proportions that we have not seen before in our country.”
