WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– The Russian government said on Thursday that Finland and Sweden’s newfound commitment to joining NATO is a threat to its country. Top Russian official Dmitry Medvedev said that with the West sending weapons to Ukraine, the conflict could turn into a proxy war between Russia and NATO. He also warned that the fighting could turn into a “full-scale nuclear war, a scenario that will be catastrophic for all”. Meanwhile, Ukrainian forces have recaptured towns and villages in the country’s northeast regions as Russia refocuses its efforts in the Donbas region, according to British intelligence. Ukraine’s foreign ministry also accused Russia on Wednesday of stealing 400,000 to 500,000 tonnes of the country’s grain, warning that any buyers could become criminal accomplices.
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– North Korean leader Kim Jong-Un has imposed a nationwide lockdown in his country on Wednesday in an effort to control its first acknowledged COVID-19 outbreak. Many observers believe the recognition of the outbreak is an implicit way of North Korea asking for foreign aid. South Korea said it would provide assistance on humanitarian reasons, but the North has refused vaccines from the United Nations’ COVAX program because of international monitoring requirements. The World Health Organization (WHO) said on Thursday new worldwide cases have gone down 12 per cent from the past week, but cases are rising in Africa and the Americas.
– Pierre Polievre, the frontrunner for the leadership of Canada’s Conservative Party, said in a debate in Edmonton on Wednesday if he were elected prime minister, he would fire Bank of Canada governor Tiff Macklem. The former Conservative finance critic accused Macklem of being an “ATM” for the federal government’s deficit spending and said those who have caused the rising inflation rate should be “held responsible”. A federal election is unlikely to be held until 2025 due to an agreement between the governing Liberal Party and the opposition New Democrats.
