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Global Markets: Canada Goose delays China store opening

By Commodity News Service Canada
WINNIPEG, Dec. 14, 2018 (CNS) – The following is a glance at the news moving markets in Canada and globally.
Canada Goose has decided to delay the opening of its flagship store in Beijing, as escalating tensions between China and Canada continue. The company announced on its Weibo account that it was postponing the store’s opening due to construction reasons. However, the post came after Weibo social media users had threatened to protest the opening. There is no word on when the store will open.

China has announced it will remove the 25 per cent tariff on United States automobile imports. The tariff was placed in retaliation to the U.S. as part of the trade war. The removal of the tariff comes following a meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the G20 a few weeks ago, where they agreed to a 90-day cease-fire.
Bond rating agency Moody’s has downgraded Ontario’s credit rating from Aa3 to Aa2, due to the provinces deficits and projections that it will continue to post deficits in the coming years. Moody’s said that the combination of increased debt and slow revenue growth will result in a faster than previously thought increase in debt.

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