WINNIPEG, Feb. 26 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– Health Canada announced this morning it has approved the AstraZeneca COVID-19 vaccine for use. The vaccine, which was created in collaboration with Oxford University, was analyzed by Canadian regulators since October before authorizing its use. Health Canada says the vaccine is 62.1 per cent effective against the coronavirus and the Canadian government had already secured 20 million doses. Australia, the United Kingdom and the European Union have previously approved the vaccine’s use. It is the third vaccine, after those from Pfizer/BioNTech and Moderna, to receive approval from Health Canada, and the vaccine from Johnson & Johnson is also expected to be approved in the next few days.
– The United States House of Representatives is expected to pass a sweeping US$1.9 trillion COVID-19 relief bill later today. The financial aid package would include funds for vaccines, medical supplies and monetary stimulus for households, small businesses, and local and state governments. The bill will then go to the Senate, where Vice President Kamala Harris is expected to cast the tie-breaking vote in favour of the bill.
– A new report from the United Nations released today suggests that new pledges by countries to cut greenhouse gas emissions are not enough to limit global warming to the goals set out by the Paris Agreement. Data has shown that Earth is on track to warm by three degrees Celsius above pre-industrial times instead of the 1.5 degrees need to avoid a “global catastrophe.” Large polluters like China, the U.S. and India have missed a Dec. 31 deadline to send their targets for climate negotiations in Scotland this November.