Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally.
– United States President Donald Trump extended his deadline to April 7 for Iran to re-open the Strait of Hormuz or face attacks on its energy infrastructure. Both countries have submitted ceasefire plans to each other, but they were eventually rejected. Meanwhile, Israeli Defence Minister Israel Katz said its own attacks on Iran will “escalate and expand to additional targets” if Iran continues to fire missiles into Israel. The United Nations Security Council is set to meet Friday morning to discuss the conflict.
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By Glen Hallick Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada…
– Canada spent two per cent of its 2025 GDP on defence, totalling C$62.7 billion and meeting NATO’s target, said the NATO Secretary-General’s annual report released on Thursday. Canadian Prime Minister Mark Carney said it was Canada’s highest level of defence spending relative to GDP since the fall of the Berlin Wall in 1989. His predecessor Justin Trudeau had previously announced that Canada would hit the target in 2030. NATO also reported all of its member nations spent two per cent of their GDP on national defence, an objective first outlined in 2014 and accelerated by Trump’s threats to pull the U.S. out of the alliance.
– The federal New Democratic Party will elect its new leader in Winnipeg on Sunday. The winner will take over a party with six seats in the House of Commons. There are five candidates running for the position: MP Heather McPherson, activist and filmmaker Avi Lewis, union leader Rob Ashton, farmer Tony McQuail and social worker and municipal councillor Tanille Johnston. The NDP will also vote on the removal of Section 107 from the Labour Code, which gives the federal government broad powers to intervene in labour disputes. The party will also vote on making federal election days a statutory holiday, opposing Canada joining the U.S. Golden Dome defence system and enacting more AI regulations.
