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Global Markets: EU to cut greenhouse gas emissions by 55%

By MarketsFarm

WINNIPEG, Dec. 11 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– The European Union has reached a deal to cut greenhouse gas emissions by 55 per cent over the next decade, compared with 1990 levels. Discussions to reach the agreement went through the night, with a number of coal-reliant countries initially reluctant to sign on with the goal. The United Nations is holding a virtual climate meeting this weekend to mark five years since the signing of the Paris agreement.

– The United States Food and Drug Administration (FDA) is reportedly close to giving approval to Pfizer’s COVID-19 vaccine. The vaccine is already being administered in the United Kingdom, with the first doses expected in Canada next week.

– Canada’s national net worth grew by C$572.6 billion in the third quarter of 2020, hitting C$13.2 trillion, according to a report from Statistics Canada on the country’s net foreign asset position. In a note on the data, the government agency noted that the country’s economy was showing signs of recovery after widespread shutdowns and restrictions due to the pandemic. Reliance on government support measures also eased during the quarter.

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