Global Markets: Heatwave hits India

By MarketsFarm

WINNIPEG, June 17 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– With temperatures consistently topping 45 degrees Celsius, a heatwave in India has caused the deaths of more than one hundred people, according to some accounts. The northern state of Bihar has been particularly hard hit. Schools are closed and large gatherings have been banned in some areas. The heat is tied to the lateness of monsoon rains.

– Sales of Huawei smartphones have declined sharply over the past month, with revenue at the company expected to be down by about US$30 billion over the next few years due to a ban from the United States, according to the company’s founder Ren Zhengfei.

– A parade honouring the Toronto Raptors will shut down much of downtown Toronto on Monday, with two million people expected to attend the celebration of the NBA champions.

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