By MarketsFarm
WINNIPEG, Oct. 14 – The following is a glance at the news moving markets in Canada and globally.
– Former United States President Donald Trump has been subpoenaed to appear before the committee investigating the Jan. 6, 2021, attack on the country’s Capitol Building. The bipartisan committee voted unanimously to call on Trump, claiming he acted in a premeditated way as part of a plan to overturn the 2020 election. Trump is expected to fight the call to testify.
– Beyond Meat announced on Friday that it was lowering its annual revenue forecast and cutting 200 jobs. The company cited a slowing demand for alternative protein sources as customers look to cheaper products, as well as increased competition from other suppliers. Beyond Meat now expects annual revenues in the US$400 million to $450 million range, which compares with earlier estimates of US$470 million to $520 million. Shares were down in early trading.
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– United Kingdom Prime Minister Liz Truss fired finance minister Kwasi Kwarteng on Friday, as the new PM works to overhaul the country’s economic package in the face of market and political uncertainty. Former foreign minister Jeremy Hunt was announced as the replacement finance minister.
