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Global Markets: Caucus conflict cause for concern

Could draw in Russia, Turkey

By MarketsFarm

WINNIPEG, Sept. 28 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– More than 20 people are dead in a border clash between Armenia and Azerbaijan. On Sunday the two former Soviet Union republics in the Caucus region started fighting over the disputed territory of Nagorno-Karabakh. There are worries the conflict could draw in Russia, which has an alliance with Armenia, and Turkey which backs Azerbaijan. Any escalation into a full out war would threaten oil and gas pipelines in the region.

– In Canada, there are worries that hundreds of thousands of people could be in financial dire straits following Sunday’s end to the Canadian Emergency Response Benefit (CERB). With the COVID-19 pandemic, the federal government began issuing monthly payments of C$2,000 to those who qualified. The feds said they are rolling CERB into Employment Insurance (EI). People who applied for CERB through Service Canada are to automatically enrolled, but those who applied through the Canada Revenue Agency need to apply through EI.

– The New York Times reported United States President Donald Trump allegedly paid no income tax 10 times over the last 15 years. The Times stated Trump paid only US$750 in income tax in 2016 and again in 2017, also that he reported losing millions of dollars from his golf courses, and is hundreds of millions of dollars in debt. In response to the Times, Trump deemed the newspaper’s story to be fake news. The ‘billionaire’ entrepreneur is the first U.S. president in modern times who’s refused to make public his tax records.

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