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Global Markets: Alberta court rules against carbon tax

By MarketsFarm

WINNIPEG, Feb. 25 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– New cases of the COVID-19 coronavirus were reported in Croatia and Austria, with worldwide infections nearing 80,000, according to reports. The World Health Organization has not yet declared the outbreak a pandemic, but the spread of the virus could see that happen soon. After falling sharply on fears over the virus on Monday, most global equity and commodity markets were seeing some stability on Tuesday.

– Protests in solidarity with Wet’suwet’en hereditary chiefs in British Columbia and with Mohawk protestors in Ontario have blocked GO Trains in southern Ontario. Protestors were also blocking access to the Port of Vancouver Tuesday morning.

– Canada’s federal carbon tax was deemed unconstitutional by the Alberta Court of Appeal on Monday in a 4-1 ruling. “The federal carbon tax was imposed on provinces that did not implement their own plans. In the ruling, the Alberta appeal court described the federal act as “a constitutional Trojan horse.”

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