WINNIPEG, April 29 (MarketsFarm News) – The following is a glance at the news moving markets in Canada and globally.
– Thousands of Canadians in Quebec, Ontario, and New Brunswick are facing extreme flooding conditions. In Sainte-Marthe-sur-le-Lac, a suburb west of Montreal, over 7,000 residents were forced to evacuate after the Lake of Two Mountains burst through a dike on April 27. The military is supporting flood relief efforts in Ottawa, joining more than 2,000 volunteers to sandbag properties along the Ottawa River. The river is at record-high levels, and isn’t expected to peak until later this week. Prime Minister Justin Trudeau has hinted at using federal dollars to relocate communities that face a recurring threat of severe flooding, according to CBC.
– A Canadian was kidnapped by gunmen from an oil rig in Nigeria’s Delta region early in the morning of April 27. The rig, owned by Niger Delta Petroleum Resources, was raided at 8 a.m. Saturday morning. On Sunday, Global Affairs Canada said they were “aware that a Canadian citizen was the victim of a kidnapping in Nigeria,” and that “consular officials are in contact with local authorities to gather additional information.” Earlier this week, two Royal Dutch Shell oil workers were kidnapped from the same region.
– United States consumer spending rebounded in March, rising 0.9 per cent from February, according to a report by the U.S. Commerce Department. This is the highest increase in over nine years. Consumer spending accounts for more than two-thirds of U.S. economic activity.