Compiled by Glen Hallick, MarketsFarm
WINNIPEG, March 18 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– Worries are rising in Canada over the B117 variant of COVID-19 with nearly 4,000 cases reported across the country on Wednesday. Ontario leads with 1,134 cases, followed by Alberta with 1,078. The B117 variant, which originated in the United Kingdom is said to be more easily spread with a higher rate of fatalities. The Chief Public Health officer of Canada, Dr. Theresa Tam tweeted, “Maintaining public health measures and individual precautions is crucial to reducing infection rates and avoiding a rapid reacceleration of the epidemic and its severe outcomes.”
– Several Republican-led states in the United States filed a legal challenge on Wednesday to President Joe Biden’s authority to cancel the Keystone XL pipeline in January. A group of 20 states led by Texas claims Biden lacked the unilateral authority to kibosh the multi-billion dollar pipeline that would have carried crude oil from the Alberta oilsands to U.S. refineries. The states also claim that pipelines are less harmful to the environment than transporting oil by rail.
– Relations between the U.S. and Russia turned sour on Wednesday when President Biden accused Russian President Vladimir Putin of being a “killer,” “having no soul” and that Russia would “pay a price” for its alleged meddling in the U.S. election. A declassified intelligence report linked Putin to helping former President Donald Trump win last November’s election. As well, Putin has been connected to a number of successful and unsuccessful assassination attempts on Russian dissidents. In response, Russia refuted Biden’s allegations and said it would recall its ambassador to the U.S. for consultations.