Glacier FarmMedia COVID-19 & the Farm

Global Markets: Yemen facing widespread famine

By MarketsFarm

WINNIPEG, Jan. 14 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– The United Nations warned the United States on Thursday that the latter’s move to designate Houthi rebels in Yemen’s ongoing civil war as a terrorist group could lead to widespread famine in the Middle East country. On Jan. 10, U.S. Secretary of State Mike Pompeo deemed the Iranian-backed Houthis a terrorist group, which President Donald Trump is to make official on Jan. 19. A number of aid organizations, as well as senior Republicans, also warned the Trump administration the move could have a devastating effect on Yemen’s population.

– Jobless claims in the U.S. jumped by 965,000 (seasonally adjusted) for the week ended Jan. 9, the Department of Labor reported on Thursday as several states increased their lockdown measures to combat the COVID-19 pandemic. Also, nearly 284,500 U.S. workers filed claims for Pandemic Unemployment Assistance, up by more than 100,000 from the previous week. Incoming President Joe Biden has been pressing for increases to economic stimulus.

– With the U.S. House of Representatives passing the articles of impeachment on Wednesday, President Donald Trump will now face trail in the Senate. House Democrats, along with 10 Republicans, handily passed the motion that makes Trump the first president to be impeached twice. The motion carries the single charge of inciting an insurrection. Senate Republican Leader, Mitch McConnell stated there isn’t time to try Trump before his term ends on Jan. 20. The New York Times reported that up to 20 Republican senators favour convicting the president, which would give Democrats the two-thirds majority needed to find Trump guilty.

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