Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– Conservative Party leader Pierre Polievre introduced a non-confidence motion in the House of Commons on Wednesday in order to trigger a snap election, but the move is likely to fail. The Tories want the Liberals to drop a plan to increase the federal carbon tax on April 1, claiming it is unaffordable to most Canadians. Both Polievre and Prime Minister Justin Trudeau cited conflicting reports from the Parliamentary Budget Officer as to the net financial effect for Canadian households. The vote is set for Thursday evening, but the New Democrats are likely to support the Liberals.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. – Canadian…
– Russia fired 31 ballistic and cruise missiles at Kyiv early Thursday morning, all of them intercepted by Ukrainian air defences. However, 13 people were injured by falling wreckage. Ukraine’s Emergency Service said 80 people were evacuated from their homes. The attack was likely retribution from Russia after Ukraine’s recent aerial offensive in Russia’s Belgorod region.
– The United States Justice Department will file a blockbuster antitrust lawsuit against Apple on Thursday, according to CNN. Critics have long alleged that Apple’s restrictive app store terms, high fees and its tight controls to how third-parties use its hardware and software have harmed competition. Apple, along with Meta, Google and Amazon were deemed to have “monopoly power” according to a U.S. House of Representatives report from 2020.
– Social media platform Reddit will have a market value of US$6.4 billion after its initial public offering was priced at US$34 per share prior to its debut as a publicly traded company on the New York Stock Exchange on Thursday. The price announced on Wednesday was near the top of the range expected by investment bankers. However, the San Francisco-based company is dwarfed by other social media companies Meta and X. Out of the 15.3 million shares offered, Reddit reserved up to 1.76 million for its users.
