By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- At least 23 people are now dead in Kenya with more than 200 injured after widespread protests against the country’s government turned violent. Protest organizers said on Wednesday they will keep up the pressure against new tax hikes and deep spending cuts the government is trying to implement. On Tuesday, police fired on the protestors, killing six. Kenyan President William Ruto accused demonstrators of being “criminals pretending to be peaceful protestors.”
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- The United Kingdom pound has been gaining strength following the start of the general election. With the Labour Party poised to win, which would make leader Keir Starmer the next prime minister, the pound has climbed to levels unseen since 2016. Under the Conservatives, the U.K. debt to GDP ratio topped 63-year highs and foreign investment has been steadily shrinking.
- The Grays Bay Port and Road project refiled for an environmental assessment with the Nunavut government on Wednesday. The proposed 230-kilometer road is to connect to a deep water port about halfway through the Northwest Passage. Reports said the estimated cost of the project is at least C$1 billion with construction expected to begin in 2030.
- Netherlands Prime Minister Mark Rutte was named as NATO’s next Secretary-General on Wednesday. Rutte has been a staunch ally of Ukraine since Russia invaded on 2022. Last week, Romanian President Klaus Iohannis withdrew his name from the running, clearing the way for Rutte to succeed Jens Stoltenberg of Norway. Rutte is scheduled takeover as the alliance’s civilian head on Oct. 1.
