Global Markets: U.S. Senate explores repair, not replace, for Obamacare

By Commodity News Service Canada

WINNIPEG, Aug.2 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– The U.S. Senate appears to be diverging from President Donald Trump’s stance on health care. Trump has voiced and tweeted that he would like to let Obamacare fail, following failed attempts to introduce replacement legislation last week. But a group of Republican and Democratic senators now plan bipartisan hearings to find ways to repair Obamacare, rather than seeking ways to replace it.

– The European Commission, the executive arm of the European Union, is considering a range of actions in response to Venezuelan President Nicolas Maduro’s move to arrest two key opposition members in that country. The U.S. government has already frozen Maduro’s U.S. assets and prohibited American businesses from doing business with him. Canada has also condemned Maduro’s actions and his attempts to push through a constitutional change.

– Firefighters from the United States and Mexico are expected to continue to arrive in British Columbia this week to help fight 138 wildfires. Mexico is sending 108 firefighters, the U.S. is sending 27.

– Toronto Star newspaper publisher Torstar Corp posted a loss of almost C$7 million, or 9 Canadian cents per share for the quarter ended June 30. That compares to losses in the same quarter last year of C$23.9 million. Overall revenue was C$161.8.

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