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Global Markets: Brexit hardliner the UK’s next PM

By MarketsFarm

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

– Brexit hardliner Boris Johnson will become the next Prime Minister of the United Kingdom on Wednesday. On Tuesday, Conservative Party members gave Johnson, a former cabinet minister in Theresa May’s government, almost twice as many votes as Foreign Secretary Jeremy Hunt. Johnson stated he will guide the UK out of the European Union by the end of October, with or without a formal deal at the risk of throwing the global economy into chaos.

– South Korean F-16 jet fighters fired warning shots at two Russian Tu-95 bombers and an A-50 airborne early warning aircraft on Tuesday. A South Korean defence ministry official said to the Associated Press that the F-16’s fired 80 warning shots from their cannons, with the Russian aircraft leaving the vicinity. Russia denied their warplanes entered South Korean airspace.

– Grain cars rolled into Churchill, Man. for the first time since 2015 on July 21. This comes as the 2017 washout of the Hudson Bay Railway and the demise of the Canadian Wheat Board a few years before, dealt a severe double blow to Canada’s only deep water northern port. The chief executive officer of the Arctic Gateway Group, Murad Al-Katib, said to CBC News that multiple vessels are expected to arrive and leave the Port of Churchill this year. The first ship is scheduled to depart next month.

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