Global Markets: Racing towards a vaccine

Fourth Israeli election looming

By MarketsFarm

WINNIPEG, April 16 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– The race to create a vaccine for COVID-19 continues with more than 70 research teams around the world working on the solution, the CBC reported on Thursday. Some of the possible vaccines reached lab trials on animals while a few others were already being tested on humans. Scientists believe the earliest that a safe vaccine could be mass-produced is this fall. According to Johns Hopkins University there have been almost 2.1 million reported cases of COVID-19, also known as SARS-CoV-2. That’s resulted in about 138,000 deaths while approximately 526,000 people have recovered.

– Canada lost more than 177,000 jobs in March, according to payroll services provider ADP on Thursday. The decline is due to pandemic that has seen all but essential businesses remain closed across the country to stem the spread of COVID-19.

– Israel is faced with yet another election, in the middle of a pandemic, if the two main party leaders cannot form a working coalition. Blue and White leader Benny Gantz previously said he wouldn’t consider forming a government with current Prime Minister Benjamin Netanyahu as he’s facing corruption charges. Following little progress in talks between the rival leaders, President Reuven Rivilin asked the Knesset, Israel’s 120-seat parliament, to select either Gantz or Netanyahu to be Prime Minister. Should that fail, Israel would have its fourth election in just over a year.

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