WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– The United Nations Climate Change Conference (COP26) began in Glasgow, Scotland on Sunday and will be held until Nov. 12, which includes more than 190 world leaders including Canadian Prime Minister Justin Trudeau, United States President Joe Biden and German Chancellor Angela Merkel. However, leaders from Russia and China will not attend. Environmental groups hope countries re-commit to capping greenhouse gas emissions in order to keep warming 1.5 degrees Celsius below pre-industrial levels. According to a U.N. report last month, there will be a projected 2.7 degree rise by the end of the century. In July, Canada submitted its target to the U.N., a reduction of at least 40 per cent fewer emissions by 2030 than in 2005.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
– The global death toll from COVID-19 exceeded five million people on Monday, according to Johns Hopkins University. The U.S., European Union, United Kingdom and Brazil account for half of all deaths despite accounting for one-eighth of the world’s population. The number is also roughly equal to the amount of people killed in battles since 1950, according to the Peace Research Institute Oslo. It is also the third-leading cause of death behind heart disease and stroke.
– Before the U.S. Federal Reserve’s two-day policy meeting on Tuesday and Wednesday, Treasury Secretary Janet Yellen told a news conference in Dublin, Ireland she does not think the U.S. economy is overheating and high rates of inflation is related to the COVID-19 pandemic. “I would not say the U.S. economy is currently overheating, we’re still five million jobs below where we were pre-pandemic and labor force participation has declined and the reasons relate to the pandemic,” Yellen said. “I believe as we get beyond the pandemic, that these pressures release and in that sense, I believe inflation is transitory, and we don’t have an economy that is in a longer-run sense overheating.”
