By Commodity News Service Canada
July 5 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.
– All cars launched after 2019 from Chinese-owned Volvo will be electric or hybrids, the company announced today. Volvo becomes the first conventional auto maker to schedule a phase-out for vehicles powered only by internal combustion engines.
– The G20 summit in Hamburg, Germany, scheduled for Friday is expected to produce some delicate and complex talks between leaders of the world’s largest economies. German Chancellor Angela Merkel today criticized U.S. President Donald Trump for his policy based on winners and losers, rather than one on cooperation. Along with Merkel and Trump, Russian President Vladimir Putin is expected to be present. As well, Canada’s Prime Minister Justin Trudeau plans to attend. Trade, global leadership and climate change are expected to dominate discussions.
– United Kingdom-based payments company Worldpay has confirmed that it has agreed to an offer from Vantiv. U.S.-based Vantiv is offering 3.85 euros per share (C$5.65), which would equal a total price of about 7.7 billion euros (C$11.31 billion).