WINNIPEG, Aug. 15 (MarketsFarm News) – The following is a glance at the news moving markets in Canada and globally.
– Canadian non-farm employment rose by 73,700 in July, according to the most recent report from a private firm. This reflects an increase in hiring in the trade, transportation, utilities, construction, leisure, and hospitalities industry. The same firm reported that 9,600 jobs were lost in June.
– As stock markets plummet and fears of a global recession heighten, China is poised to take “necessary countermeasures” to the latest threat of U.S. tariffs. China’s foreign ministry said “U.S. tariffs violate a consensus reached by the leaders of two countries and get off the right track of resolving disputes via negotiation,” according to Reuters.
– Mass demonstrations are expected to continue throughout the weekend in Hong Kong, and China’s paramilitary is conducting drills and exercises to face protestors. Hong Kong residents are protesting an extradition bill that would allow Hong Kong residents to be at the whim of legislation if mainland China, which undermines the principals of the “one country, two systems” agreement. Earlier this week, sit-in protests at the Hong Kong airport grounded planes, but the airport has since re-opened.