Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Oct. 22 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– In behind the scenes machinations, Edward Rogers has been removed as the chair of the board of Rogers Communications following his attempt to oust company president and CEO Joe Natale. The revelation was made public after the markets closed on Thursday and board member John A. MacDonald was named the new board chair. Reports said that Rogers was unhappy with the performance of the communications giant, which is currently working on a C$26 billion merger with chief rival Shaw. Rogers, the son of the late company founder Ted Rogers, not only remains on the board, but issued a statement that he intends to remove the new chair and four other directors, using the family trust that controls two-thirds of the company’s shares.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
– During a CNN town hall event Thursday evening, United States President Joe Biden, reaffirmed the country’s resolve to defend Taiwan from an invasion by China. This was the latest move in the ‘mini Cold War’ being played out in the Taiwan Strait as China continued to flex its growing military might. That included China testing hypersonic missiles in recent months. A spokesperson for Taiwan president Tsai Ing-wen acknowledged Biden’s “rock solid support.” There has yet to be an official response from China, but the country’s ambassador to the United Nations, Zhang Jun, previously accused the U.S. of creating a dangerous situation in the Taiwan Strait.
– As prices skyrocket, the energy crisis in Europe could see countries refusing to export natural gas to its neighbours this winter, according to reports on Friday. Currently, the European Union has a little more than three-quarters of the natural gas it requires, but its major suppliers Russia, Norway and Algeria are looking to curb their exports. In turn, that could see EU members refusing to allow gas to pass through pipelines on to other EU members.
