Global Markets: Brazil to reject G7 forest fire aid money

By MarketsFarm

WINNIPEG, Aug. 27 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– A US$20 million aid offer from the G7 to help fight fires in the Amazon rain forest has been rejected by Brazil. Onyx Lorenzoni, the chief of staff to Brazilian President Jair Bolsonaro, told a news agency that French President Emmanuel Macron should focus on reforesting Europe rather than on ‘colonialist practices’.

– Home prices in the United States increased by a seasonally adjusted rate of 4.8 per cent in June compared to the previous year, according to the Federal Housing Finance Agency. The pace was down slightly from the 5.2 per cent annual growth reported in May.

– U.S. pharmaceutical company Johnson & Johnson has been found guilty of playing a part in fuelling an opioid addiction crisis in Oklahoma and must pay a US$572 million fine. The company said it will appeal the ruling.

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