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Global Markets: Trudeau says he intends to govern

By MarketsFarm

WINNIPEG, Oct. 29 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Canadian Prime Minister Justin Trudeau will meet with Governor General Julie Payette on Tuesday to confirm his intention to form a government after last week’s federal election. Trudeau’s Liberals won 157 seats, 13 short of a majority, on Oct. 21. Rather than form a coalition or an alliance with one of the opposition parties, Trudeau already indicated he will govern issue by issue. Along with scheduling a date for Parliament to reopen, Trudeau will reshuffle his cabinet after Public Safety Minister Ralph Goodale and Natural Resources Minister Amarjeet Sohi lost their re-election bids. Also, International Trade Diversification Minister Jim Carr announced he’s battling cancer and it’s uncertain if he will continue to serve in cabinet.

– Protests continue in Chile on Tuesday despite President Sebastian Pinera having appointed new cabinet that saw eight ministers ousted. Mass demonstrations, including violent street battles, erupted in Chile over demands for pension increases, affordable medical insurance, less expensive medicines and stable electricity prices. Chileans are also frustrated with government corruption, economic inequality and the high cost of living. The Interior Ministry stated that 20 people have been killed in demonstrations. The specter of the military taking to the streets, similar to that in the 1973 coup, has arisen.

– Britons will very likely being heading to the polls in December. Opposition Labour leader Jeremy Corbyn informed his caucus that he’s now willing to back a parliamentary motion to trigger a general election as a no-deal Brexit has been ruled out. The European Union again extended the United Kingdom’s Brexit deadline, this time to Jan. 31. Prime Minister Boris Johnson proposed Dec. 12 as the election date. The Liberal-Democrats and the Scottish National Party ruled out that date and offered Dec. 9, but said they were open to Dec. 10 or 11.

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