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Global Markets: No delay in the cards for Brexit

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

– Canada’s Barrick Gold Corp has offered US$8 billion to U.S. rival Newmont Mining Corp, a move that would combine the world’s two largest gold producers. Newmont has rejected previous bids in the past, and joint venture negotiations have fallen through over Newmont’s demand for management control. “The combination of Barrick and Newmont will create what is clearly the world’s best gold company, with the largest portfolio of Tier One gold assets,” Barrick Chief Executive Officer Mark Bristow said in a statement.

– World stock markets rose on Monday after U.S. President Donald Trump announced he would delay a tariff hike on Chinese imports after “productive” trade talks with Chinese President Xi Jinping, a move that may calm the rough trade waters between the world’s two largest economies. Dow Jones and Nasdaq futures gained 0.5 and 0.7 percent respectively.

– Tensions in Latin America are rising following Venezuelan President Nicolas Maduro’s move to block the entry of hundreds of tonnes of humanitarian aid to his economically devastated citizens. Conflict erupted on Saturday as U.S. – backed aid convoys were met with protest as they attempted to deliver food and medicine. The Lima Group is meeting this morning to discuss possible next steps. “We must have all options open to achieve liberation of the homeland,” Opposition leader Juan Guaido said after the failed delivery.

– British Prime Minister Theresa May remains steadfast in her Brexit convictions. She says Brexit will happen as planned on March 29, re-affirming that a delay would not solve the divide in Parliament. As the clock ticks down, some are bracing for a no-deal Brexit, which could significantly impact the world’s economies.

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