Global Markets: U.S. stimulus bill gets speedy passage

By MarketsFarm

WINNIPEG, Dec. 22 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Both houses of the United States Congress quickly passed the second largest economic stimulus bill in the country’s history on Monday. After months of acrimonious negotiations Republican and Democrat lawmakers reached an agreement on a US$900 billion deal on Sunday, which was then attached to a US$1.4 trillion bill. Among the legislation’s provisions are direct payments of US$600 to most Americans and US$300 per week in additional unemployment benefits.

– The Canadian government blocked the takeover of TMAC Resources Inc. on Monday by China’s Shandong Gold Mining Co. Ltd. Shandong announced the C$230 million deal in May and received regulatory approval as well as the support of TMAC shareholders. In October the federal cabinet ordered a national security review, with the outcome announced yesterday.

– The backlog of Europe-bound cargo trucks and trains in the United Kingdom will could soon get rolling on Tuesday, according to reports. All commercial traffic out of the U.K. ground to a halt after the government announced on Sunday that a new and potentially deadlier strain of the coronavirus had emerged. The U.K and French governments are working on a means to test truck drivers.

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