Global Markets: Feds delaying Trans Mountain announcement

By MarketsFarm

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

– The Canadian government announced on Thursday it has pushed back their deadline for making a decision on the Trans Mountain Pipeline from mid-May to June 18. Federal Minister of Natural Resources Amarjeet Sohi said more time is needed to consult with Indigenous groups who would be impacted by the pipeline’s planned expansion. The project would triple the pipeline’s capacity to carry crude oil to ports in British Columbia. Alberta Premier-designate Jason Kenny, an ardent supporter of the pipeline, stated he supports the delay.

– Russian President Vladimir Putin said guarantees from the United States are not enough to convince North Korea to give up its nuclear weapons program. Putin met with North Korean leader Kim Jong Un on Thursday in Vladivostok. The Russian president stated a multi-lateral agreement is needed for the U.S. and North Korea to make progress on a deal. Also, the Putin/Kim summit has been seen as Russia’s attempt to gain more prestige on the world stage.

– Former U.S. Senator and Vice-President Joe Biden formally announced his bid for Democratic presidential nomination on Thursday. The 76-year-old Biden is the 20th Democrat to declare their intentions. He is expected to run a centrist campaign that highlights his ties with Barack Obama’s presidency. Following the death of his son from cancer, Biden declined to seek the Democratic nomination for the 2016 presidential election.

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