An investigation by the RCMP's Integrated National Security Enforcement Team has shed light on a conspiracy involving the illegal sale of Chinese drones and military equipment destined for Libya. Using foreign front companies, the individuals behind the conspiracy allegedly circumvented existing international sanctions to facilitate illegal activities. The alleged facts were committed while the accomplices were employed by the ICAO, a UN agency in Montréal.
Global shares rose on Tuesday, driven by a recovery on Wall Street, where investors focus on earnings reports from the U.S. megacaps, while the yen hit a new 34-year low against the dollar, prompting a warning from Japanese officials. Adding to the optimism was a series of surveys of business activity that showed Germany returned to growth in early April after months of contraction, while activity in the broader euro zone expanded at its fastest clip in nearly a year. Investors are less concerned right now about the threat of a major re-escalation of tension in the Middle East and more focused on earnings.
Philip Morris International on Tuesday surpassed market expectations for first-quarter profit and revenue, helped by robust demand for its heated tobacco product and Zyn nicotine pouches. The Marlboro maker's flagship heated tobacco device IQOS, expected to launch in the United States in the second quarter, has been a driving force behind its effort to make more money from alternatives to traditional cigarettes. The company's first-quarter revenue of $8.79 billion beat market expectations of $8.47 billion, according to LSEG data.
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