Compiled by Glen Hallick, MarketsFarm
WINNIPEG, March 3 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– As Russia’s invasion of Ukraine continued into its eighth day, the exodus of people out of the war-gripped country has topped one million, according to the United Nations on Thursday. A report from the UN High Commissioner of Refugees said this marked the largest move of refugees in the 21st Century. More than half of the refugees have fled to Poland, with Hungary and Romania taking sizeable influxes. Even small amounts of people have ventured to Russia and its allies Belarus and Moldova. As the war rages in several parts of Ukraine, more talks between the two sides are scheduled for today. With Russian nuclear forces already on high alert, Foreign Minister Sergey Lavrov warned on Wednesday that a third world war would become nuclear.
Read Also
Global Markets: Trump targets EU, Mexico
By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– In the midst of rising inflation, economists are beginning to point the finger at corporate profiteering as one of the contributing causes, according to a CBC report on Thursday. Inflation in Canada exceeded five per cent in January, and remained on the rise elsewhere in the world, due to a number of factors including the COVID-19 pandemic, supply chain issues, and even government stimulus. One economist said corporate profiteering’s effect on inflation was “under-examined.” Another said, “it’s not a stretch to think that some businesses will raise prices or even exaggerate those price increases to kind of tease out to [at what level] we’ll see a negative impact.”
– The U.S. Department of Labor reported on Thursday that the number of unemployment claims dropped by 18,000 at 215,000 for the week ended Feb. 26. Expectations are for the government’s monthly report to show 415,000 jobs were added in February. On Wednesday, the ADP Research Institute projected more than 475,000 job were created last month.
