Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– Egypt sent a delegation to Israel on Friday in an effort to broker a ceasefire deal with Hamas in Gaza, according to two Egyptian officials. The talks will discuss a limited exchange of hostages held by Hamas for Palestinian prisoners, as well as the return of displaced Palestinians to their homes in northern Gaza. Hamas had previously demanded a permanent ceasefire and full withdrawal of Israeli troops in Gaza, but Israel rejected both conditions. Last night, Lebanese militant group Hezbollah fired missiles and artillery shells at an Israeli military convoy in a disputed border area, killing an Israeli civilian.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– United States Secretary of State Antony Blinken raised concerns with China providing support to Russia’s military during a five-and-a-half hour visit with China’s top diplomat Wang Yi in Beijing on Friday. While China has not provided arms to Russia for use in the latter’s war with Ukraine, it has provided “dual-use goods” to Russia’s military. The talks also included the influx of cheaper Chinese exports, tensions over Taiwan and the South China Sea, artificial intelligence and curbing Chinese imports of chemicals used to make fentanyl.
– The federal government has imposed financial sanctions on insurance provider Canada Life after numerous complaints from public servants and their families over unnecessary delays to their coverage. Last year, the public service health insurance plan was transferred from Sun Life to Canada Life, but members of the plan complained of long waits, failing to reach an agent and having claims denied without explanation. A Canada Life spokesperson said early challenges have been resolved.
– Copper reached the US$10,000 per short ton mark at the London Metal Exchange for the first time in two years on Friday due to increased demand and a squeeze in supply of mined ores. New supply is needed for electric vehicles and renewable energy over the next few years and one analyst said copper would need to exceed US$12,000 per short ton to create new large-scale investments in new mines and prevent future deficits. British mining giant Anglo American rejected a US$39 billion takeover bid from Australia’s BHP on Friday, which would’ve produced 10 per cent of global copper output.
