Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Sept. 30 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– Friday marked the second annual National Day for Truth and Reconciliation in Canada – to remember the victims and survivors of the country’s former residential school system. For well over a century, hundreds of thousands of Indigenous children were forced to attend residential schools that were run by churches and overseen by the federal government. The system was designed to “erase the Indian” from the children. While federal offices are closed today, what else is open or closed largely depends on the province.
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Global Markets: Inflation nudges up in Canada, the U.S.
By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– In the United Kingdom, The Chancellor of Exchequer Kwasi Kwarteng stated on Friday his drastic economic measures that sent the U.K. pound to all-time lows, were necessary. Kwarteng claimed his mini-budget’s deep tax cuts were needed to prevent the collapse of consumer spending in the U.K. The situation with the pound became so severe that the Bank of England stepped in to halt the destruction of pension plans. Prime Minister Liz Truss voiced her strong support for her finance minister, stating urgent action was required and that she is prepared “to do whatever it takes” to rejuvenate the U.K.’s economy.
– Russia declared on Friday it has annexed the Ukrainian territories of Donetsk, Luhansk, Kherson and Zaporizhzhia. Earlier this week, Russia held a referendum in those territories on whether they wanted to become part of Russia or not. Ukraine and the West condemned the referendum as being rigged. Russian President Vladimir Putin chastised the West, blaming them for the events leading up to his invasion of Ukraine in February.
