Global Markets: U.K. Parliament suspended until October 14

By MarketsFarm

WINNIPEG, Sept. 9 (MarketsFarm News) – The following is a glance at the news moving markets in Canada and globally.

– The United Kingdom’s Parliament will be suspended after Monday’s session, the latest tactic employed by Prime Minister Boris Johnson to ensure the country leaves the European Union on October 31. Parliament will resume on October 14, which means opponents of Brexit won’t have much time to thwart Johnson’s plans. Johnson’s decision to shut down Parliament has been criticized as anti-democratic.

– Hundreds of school-aged children joined ongoing protest efforts in Hong Kong this weekend. “The school-based human chain is the strongest showcase of how this protest is deep-rooted in society, so deep-rooted that it enters through the school students,” said Alan Leong, an alumnus of Wah Yan College, to CBC. Citizens in Hong Kong have been protesting a proposed extradition bill for over three months. The protests have hampered the area’s economy, as a 40 per cent drop in tourism has sparked the area’s first recession in over a decade.

– Saudi Arabia’s energy minister has indicated that the Organization of the Petroleum Exporting Countries (OPEC) and its allies will continue to cut production ahead of the group meeting in Abu Dhabi. Oil futures were up for the fourth consecutive day following this announcement. Prince Abdulaziz bin Salman is the son King Salman and has served as the country’s OPEC delegate for years.

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