Glacier FarmMedia COVID-19 & the Farm

Global Markets: Canadian government being pressed on 5G decision

By MarketsFarm

WINNIPEG, Jan. 2 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– The Canadian government continues to be pressured into making a decision regarding China’s Huawei and 5G technology, Bloomberg reported on Thursday. There are fears that if Huawei was selected that could open the door to China electronically spying on Canadians. The United States has been leading the charge against the tech giant, but top Huawei officials have repeatedly denied the allegations. Sweden’s Ericsson and Finland’s Nokia are also in the running to assist Canadian firms, such as BCE and Telus, in developing their 5G technologies. The Canadian Security Intelligence Service and the Communications Security Establishment are part of a federal government committee tasked with recommending which company should be selected.

– Hong Kong police arrested more than 400 pro-democracy demonstrators on New Year’s Day, according to Reuters. A peaceful march by tens of thousands of protestors turned violent when police attempted to disperse the massive crowd. The protests began in Hong Kong about six months ago, which initially opposed a new extradition law between Hong Kong and China, but developed into a large pro-democracy movement. The former United Kingdom colony was returned to China in 1999 and has been operating on a two systems, one country model.

– Interpol issued a red notice to Lebanon on Thursday regarding former Nissan CEO Carlos Ghosn, according to report. Such a notice from Interpol is a request to arrest a person pending extradition. However there isn’t an extradition treaty between Lebanon and Japan, from where Ghosn was facing trial on allegations of financial misconduct. After being arrested in November 2018, the ex-Nissan boss posted bail of US$8.9 million in April, but slipped out of Japan on New Year’s Eve. He flew to Lebanon where he holds a citizenship. Although Ghosn is credited with turning around Nissan, he was accused of making a multi-million dollar payment to a distributor and under-reporting his salary. His trial was scheduled to begin this coming April.

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