Global Markets: North America could face a recession

WINNIPEG, June 18, 2018 (CNS) – The following is a glance
at the news moving markets in Canada and globally.
Fears of a trade war between the United States and
China sent stock markets around the world down. The Dow
Jones Industrial Average on Wall Street was down more than
200 points, while in Canada the Toronto Stock Exchange’s
S&P/TSX Composite Index fell more than 50 points.
A new report from Scotiabank is predicting that if the
U.S. breaks all trade ties with its partners and imposes
tariffs, it would send North America into a recession by
2020. In Canada it would shrink the economy by 1.8 per
cent.
Two Calgary-based oil and gas producers announced
Monday they will be merging. Under the proposed deal Raging
River Exploration shareholders will receive 1.36 Baytex
Energy shares for each share held. The deal has an equity
value of C$1.6 billion. Following the closure of the deal
Raging River shareholders will own 57 per cent of the
combined company.

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