Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally.
– Torrential rains and flooding over the past week have taken the lives of more than 1,000 people in Indonesia, Sri Lanka and Thailand with thousands more missing. Indonesian President Prabowo Subianto visited the island of Sumatra on Monday, where more than 290,000 people have been displaced, pledging to rebuild infrastructure and urging local governments to protect their communities against climate change. In Sri Lanka, rescuers are searching for 370 missing people, while in Thailand, Prime Minister Anutin Charnvirakul disclosed recovery and compensation plans for the southern part of the country.
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By Glen Hallick Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada…
– Public hearings are scheduled this week in Washington, D.C. for a mandatory review of the Canada-U.S.-Mexico Agreement (CUSMA) with many manufacturing, retail and industrial groups submitting briefs praising the agreement’s benefits. The National Association of Manufacturers, the National Association of Home Builders, the National Retail Federation and General Motors all extolled the agreement. U.S. President Donald Trump has repeatedly threatened to not renew the agreement.
– OPEC+ agreed to leave crude oil output unchanged for the first quarter of 2026 after its meetings in Dubai on Sunday. The news lifted crude oil prices by more than US$1 per barrel. In addition, OPEC+ will also assess members’ maximum output capacity, which will be used to set output quotas from 2027 onward. The evaluation will take place between January and September 2026.
