Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– The Chinese Commerce Ministry said in a statement it was “strongly dissatisfied” with Canada’s plans to impose a 100 per cent tariff on Chinese electric vehicles, as well as a 25 per cent surcharge on Chinese steel and aluminum products announced on Monday. The ministry claimed the new measures violate rules laid out by the World Trade Organization and added it was “typical trade protectionism”. The ministry urged Canada to “immediately correct its wrong practices.” Canadian Deputy Prime Minister Chrystia Freeland said on Monday China has a state-directed policy of overcapacity and oversupply.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– General Oleksandr Syrskyi, the chief of Ukraine’s army, said the country’s troops now control 1,300 square kilometres of Russia’s Kursk region, roughly the size of Los Angeles, since its incursion started three weeks ago. Ukraine has also captured 594 Russian prisoners in the operation. On Tuesday morning, five Ukrainians were killed and 16 others were injured in another Russian drone and missile attack.
– Iran’s supreme leader Ayatollah Ali Khamenei told the country’s government on Tuesday there was “no barrier” to engaging with the United States, which he called “the enemy” over Iran’s advancing nuclear program. However, Khamenei also said Iran should not wait for approval by its enemies and told the country’s cabinet to “not trust the enemy.” Iran and the U.S. have previously been in talks mediated by Oman and Qatar. The U.S. State Department said in a statement that it will “judge Iran by their actions, not their words”.
– Bank of Montreal (BMO) missed third quarter projections as the financial institution put aside more money than expected for potentially bad loans. BMO earned C$2.64 per share in the third quarter on an adjusted basis, just shy of the projected C$2.75 by analysts. Provisions for credit losses totaled C$906 million, instead of the C$745 million forecast. Adjusted earnings in its U.S. personal and commercial banking unit were down seven per cent from last year at C$539 million.
