Global Markets: NASCAR bans Confederate flag

By MarketsFarm

WINNIPEG, June 11 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– A Turkish court has sentenced a United States consulate employee to more than eight years in jail for aiding a terrorist organization. Metin Topuz, a translator and fixer for the U.S. Drug Enforcement Agency, was initially accused of espionage and has been awaiting trial for two-and-a-half years. Rising tensions between the U.S. and Turkey, recently over the conflict in Libya, may be strained further by the ruling.

– Roughly 1.5 million people filed for unemployment benefits in the U.S. in the last week, according to the latest Labor Department report. While still historically high, the claims were down from the previous week, and marked the second-week in a row below two million as the country’s economy slowly reopens.

– COVID-19 cases in the U.S. have climbed above two million, according to the latest statistics from Johns Hopkins University. Meanwhile, confirmed cases in Russia were also rising, moving above 500,000.

– NASCAR announced June 10 that it was banning the Confederate flag from all races and venues, stating “the presence of the Confederate flag at NASCAR events runs contrary to our commitment to providing a welcoming and inclusive environment for all fans, our competitors and our industry.” Bubba Wallace, the sole black driver in the circuit, drove a car with a Black Lives Matter paint scheme at Wednesday’s race in Virginia. While races are currently being held without fans, NASCAR has a large fan base in the U.S. South and some backlash is coming forward online.

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