By MarketsFarm
WINNIPEG, Aug. 10 – The following is a glance at the news moving markets in Canada and globally.
– Consumer prices in the United States held steady in July after moving up 1.3 per cent on a monthly basis in June as a 20 per cent drop in gasoline costs helped slow the rate of inflation. The Consumer Price Index was up by 8.5 per cent on the year, according to the Labor Department report, which was down from 9.1 per cent the previous month. Canadian inflation data will be released Aug. 16.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– Elon Musk has sold nearly US$7 billion worth of shares in Tesla, according to regulatory filings. He tweeted that the sales of about eight million shares were made “in the (hopefully unlikely) event” that the money would be needed to finance a potential deal to purchase Twitter. Musk initially announced plans to purchase the social media company in April for US$44 billion before backing away from the transaction which is now caught up in a legal battle.
– Former U.S. President Donald Trump is scheduled to testify under oath in New York on Wednesday as part of a civil investigation into his family’s business. The testimony comes just days after Trump’s Mar-a-Lago estate in Florida was raided by the FBI due to a separate federal probe.
