WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– The Swiss National Bank (SNB) announced on Sunday that UBS will purchase its rival Credit Suisse in an acquisition designed to calm global markets rattled by the latter’s struggles. In a move orchestrated by SNB’s regulators, UBS will pay US$3.25 billion to acquire Credit Suisse, 60 per cent less than what the troubled bank was worth on Friday, despite having US$1.4 trillion in assets. Shares of UBS went down five per cent on Monday morning.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. – Canadian…
– One day after Russian President Vladimir Putin made a surprise visit to the besieged Ukrainian city of Mariupol, he returned to Moscow to host Chinese President Xi Jinping on Monday. The visit is a show of support for Russia against pressure from Western nations against the invasion of Ukraine. On Friday, the International Criminal Court put out an arrest warrant to its member nations for Putin due to his role in Russian forces kidnapping Ukrainian children.
– French President Emmanuel Macron will face two motions of non-confidence in the National Assembly on Monday after he bypassed the lower house to pass pension reforms which would raise the retirement age by two years to 64. Protesters took to the streets in many French cities against the new legislation over the past few days. The non-confidence votes are not expected to pass.
– The United Nations Intergovernmental Panel on Climate Change (IPCC) said in a report released on Monday that carbon pollution and fossil fuel use must be cut by at least two-thirds by 2035. It also called for new fossil fuel exploration and fossil fuel use by all countries to end by 2040. The IPCC had previously set a goal to limit warming to 1.5 degrees Celsius since pre-industrial times, but Earth has already warmed 1.1 degrees C.
