WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– More Russian soldiers moved closer to the Ukrainian capital of Kyiv on Friday with missiles falling on the city and residents taking shelter in underground subway stations. Russian forces had earlier taken the site of the former Chernobyl nuclear power plant and the government has claimed it now has control over an airport outside Kyiv. Ukrainian President Volodymyr Zelensky urged Western leaders for additional help, sanctions and otherwise, but so far, military intervention is off the table. Two major sporting events, the 2022 UEFA Champions League men’s soccer final in St. Petersburg and Formula One’s 2022 Russian Grand Prix in Sochi, have been relocated and cancelled, respectively by their governing bodies.
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– United States President Joe Biden has announced he will nominate Ketanji Brown Jackson to the Supreme Court on Friday to fill the vacancy left by liberal Justice Stephen Breyer, who announced his retirement last month. If successful, Brown Jackson would be the first Black woman appointed to the highest court in the U.S. She is currently on the U.S. Court of Appeals for the District of Columbia circuit. However, conservative justices would still outnumber liberal justices 6-3 after her appointment.
– Two major Canadian banks reported profits for the first fiscal quarter of 2022 on Friday. Canadian Imperial Bank of Commerce (CIBC) earned a net income of C$1.87 billion, 15 per cent higher than last year, exceeding expectations. Meanwhile, National Bank of Canada reported a profit of C$932 million in the first quarter, compared to C$761 million a year earlier. CIBC also announced plans to split shares, while National Bank has not yet made a similar announcement.
