WINNIPEG, March 18 (MarketsFarm News) – The following is a glance at the news moving markets in Canada and globally.
– Canadian Prime Minister Justin Trudeau appointed Joyce Murray as President of the Treasury Board. This appointment filled the position left vacant by Jane Philpott. Philpott resigned on March 4, citing a “loss of confidence” in the government following the SNC-Lavalin controversy. Murray will also become the Minister of Digital Government. This is the third time Trudeau has shuffled his cabinet in 2019.
– Following OPEC’s meeting in Azerbaijan over the weekend, oil prices edged up to $67 per barrel on Monday morning. OPEC has cut their oil supply, and may continue to do so for the remainder of the year. Brent crude oil was $67.36 per barrel and West Texas Intermediate rose to $58.57.
– New Zealand Prime Minister Jacinda Ardern said her cabinet is “completely unified” to reforming gun legislation following the massacre at two mosques in Christchurch on March 15. The terrorist attack killed at least 50 people. A 28-year-old Australian man will face charges in New Zealand.
– Germany’s two largest banks, Deutsche and Commerzbank, are currently negotiating the possibility of merging together. This move would cost as many as 30,000 jobs in the long-term, and is a move that experts regard as making little sense. The Deputy Head of the Left opposition party, Fabio De Masi, said that “two sick turkeys do not make an eagle.”