By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Following a drone attack that killed three United States soldiers and injured several more in Jordan on Sunday, U.S. President Joe Biden stated there will be a “very consequential response.” However, reports said Biden was also seeking ways to avoid a larger conflict in the already tumultuous Middle East. The Iran-backed militia group Islamic Resistance claimed responsibility for Sunday’s attack, but Iran denied any role in the strike.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
- China-based property developer Evergrande was ordered by a Hong Kong court on Monday to liquidate. In 2021, Evergrande defaulted on its debt, which began protracted talks between the company and its creditors. In June 2023, Evergrande reported total liabilities of approximately US$333 billion. While liquidators look to sell off Evergrande’s assets, the company stated that wouldn’t affect any it of subsidiaries, which are considered to be independent.
- Shell Oil announced on Monday that it’s exiting Nigeria’s onshore oil sector, listing oil theft, pipeline vandalism, and widespread pollution of Nigeria’s Delta region as its reasons. A report stated Shell is selling its Nigerian onshore operations to “five mostly local companies.” Shell marks the fifth oil company to cease onshore operations, having joined Exxon, Eni, Equinor and Addax.
- In an attempt to help stem the housing crisis in Canada, Leon’s Furniture announced on Monday it plans to build 4,000 homes near its Toronto head office. This is to include townhouses, mid- and high-rise buildings, and community spaces along with a new flagship retail store and corporate headquarters. Leon’s said it expects to complete the secondary plan for the development by mid-2025.
