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Global Markets: U.S. jobless claims rise

By MarketsFarm

WINNIPEG, July 23 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

Jobless claims in the United States rose by over 100,000 to total 1.4 million during the week ended July 18. As COVID-19 cases surge across the country, some businesses have closed their doors again.

Canadian Finance Minister Bill Morneau is facing calls to resign after writing a personal cheque for over C$41,000 to the WE charity. The cheque was to cover travel expenses incurred during two family trips to Africa in 2017. Morneau said he wrote the cheque before appearing before the House of Commons finance committee, answering questions about the Liberal government’s decision to task WE with administering a C$912 million student volunteer program. The Liberal government continues to be under fire for its close ties to the charity.

China has threatened to revoke recognition of British National Overseas passports held by residents of Hong Kong. The move comes in retaliation for The United Kingdom’s policy of easing Hong Kong residents’ path to U.K. citizenship, which China views as meddling in domestic affairs.

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