Compiled by MarketsFarm
WINNIPEG, June 13 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- In a unanimous vote on Monday, the boards for Bunge and Glencore approved the former’s proposal to acquire the latter’s 49.99 per cent stake in Viterra for US$8.2 billion. Reports said 75 per cent of the purchase will be made in Bunge stock and the remaining 25 per cent, US$2 billion, will be paid in cash. The new conglomerate will reportedly be large enough to match Cargill and Archer-Daniels-Midland. Bunge previously attempted to buy Viterra in 2017 but was rebuffed.
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- Port workers in British Columbia voted 99.24 per cent in favour of strike action on Monday, should talks fail between the International Longshore and Warehouse Union Canada and the B.C. Maritime Employers Association. The previous collective bargaining agreement expired March 31 and the earliest workers could hit the picket lines is June 24. Vancouver and Prince Rupert are said to be two of the top three busiest ports in Canada, handling goods valued at C$180 billion.
- Ukraine accused Russia of launching a “massive missile strike” on Kryvyi Rih, targeting civilian buildings. Reports so far said 11 people were killed and 28 were injured in the attack. Kryvyi Rih, located 420 kilometers southeast of Kyiv, is the hometown of Ukraine President Volodymyr Zelenskyy.
- Former United States President Donald Trump is set to appear in Miami court on Tuesday, facing an indictment of 37 charges of allegedly retaining classified documents. Trump is said to have refused to return numerous boxes of the sensitive documents. Reports also said the indictment brims with details of how the ex-president mishandled the papers. Trump’s personal aide, Waltine Nauta, is facing six counts of obstruction and concealment.
