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Global Markets: China agrees UN sanctions needed on North Korea

By Commodity News Service Canada

Sept. 7 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– China said it agrees that the United Nations needs to take more action against North Korea following its most recent missile test. It added talks were also necessary to resolve the crisis. North Korea said it would respond to any UN sanctions.

– Hurricane Irma is making its way northward toward Florida, lashing Caribbean islands in its path. The storm killed eight people on Saint Martin and destroyed the neighbouring island of Barbuda. “It is an enormous disaster, 95 per cent of the island is destroyed,” Saint Martin official Daniel Gibbs told Radio Caribbean.

– U.S. President Donald Trump has thrown his support behind a Democratic Party plan that will deliver disaster relief to Texas while also extending for 90 days the day-to-day funding of government and the government debt ceiling. The move angered members of the Republican Party as it shifts the levers of power to the Democrats because when the new deadline arrives in December, Democrats will be able to leverage their support in exchange for their party’s priorities.

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