Compiled by Glen Hallick, MarketsFarm
WINNIPEG, June 29 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– Cassidy Hutchinson, the former aide to chief of staff for United States President Donald Trump testified in front of the January 6 Committee on Tuesday. The congressional committee is investigating the events surrounding the violent insurrection on the day Joe Biden was to be confirmed as the next president. Among Hutchinson’s accusations were Trump endorsing calls to lynch then Vice-President Mike Pence, demanding armed protestors be allowed into the Capitol buildings, and that an furious Trump needed to be restrained by the Secret Service after he attempted to grab the steering wheel of the presidential limousine.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– Ukrainian President Volodymyr Zelensky addressed the NATO summit in Madrid via video link on Wednesday, calling the fight against the Russian invasion of his country, “a war for the right to dictate conditions in Europe.” He reiterated the much of the same message he gave to G7 leaders earlier this week, many of whom are in Madrid. Zelensky requested military aid of about US$5 billion per month, suggesting that other countries in the region could also be invaded by Russia. NATO declared Russia to be a major threat to its security and said it will revise its defence plans. Previously, the 30-member alliance said it will expand its rapid response force from 40,000 troops to 300,000.
– The United Kingdom announced on Wednesday that it’s extending tariffs on steel imports for another two years. International Trade Secretary Anne-Marie Trevelyan stated the move is in the “national interest” to protect steel makers and due to “global disruptions” to energy markets and supply chains. Also, that ending the tariffs now could result in sharp price hikes in steel. The U.K. steel industry employs about 34,000 people.
