WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– The Canadian government announced on Thursday it will redirect oil and gas subsidies towards green energy initiatives by the end of 2022. Canada, the United States, New Zealand and Costa Rica are four of 24 signatories of a new agreement which would transfer C$18.6 billion a year of public funds. Earlier in the week, Canada and other G20 nations pledged to end financial support for overseas coal plants. Japan, South Korea and China, three of the world’s largest financial providers of international fossil fuels were not part of the pledge.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
– The United Kingdom became the first country in the world to grant conditional approval of Merck’s COVID-19 antiviral pill. The medication, named molnupiravir, is intended for people with mild to moderate symptoms of the disease and is to be taken twice a day for five days. The pill would reduce symptoms and speed recovery, which can improve hospital outcomes and curb outbreaks in developing nations. Molnupiravir is pending review in Canada, the U.S. and also Europe, as some countries in the continent are seeing record amounts of new COVID-19 cases.
– The Food and Agriculture Organization (FAO) announced on Thursday that food prices have increased for the third straight month in October, causing its food price index to increase to 133.2, its highest level since July 2011. Price jumps in cereals and vegetable oils drove the increase in the index, with cereal prices increasing by 3.2 per cent in October month-by-month. Wheat prices, which rose by five per cent, are at its highest level since Nov. 2012.
