Global Markets: Biden supports ceasefire

WINNIPEG – The following is a glance at the news moving markets in Canada and globally.

– United States President Joe Biden called Israeli Prime Minister Benjamin Netanyahu on Monday and expressed support for a ceasefire as the conflict between Israel and Hamas extended to its ninth day. However, unlike his colleagues in the Democratic Party, Biden did not call for an immediate ceasefire and reiterated his support for Israel to defend itself against rocket attacks. On Tuesday, Hamas militants fired rockets into Israel while the Israeli military carried out air strikes and levelled a six-story building.

– COVID-19 vaccine hesitancy in Canada is quickly decreasing according to the results of an online survey by Angus Reid conducted last month. The survey revealed that 71 per cent of Canadians are either vaccinated or would like to be vaccinated against COVID-19 as soon as possible. Another 12 per cent are also willing to be vaccinated but are in no rush to get the shot. Last November, only 76 per cent were willing to be vaccinated. The Prairie provinces are the most hesitant with 28 per cent of Albertans, 22 per cent in Saskatchewan and 20 per cent in Manitoba saying they are not willing or unsure about the vaccine.

– In a report released by the International Energy Agency on Tuesday, the world must stop developing new oil, coal and gas fields in order to achieve net-zero carbon emissions by 2050. It said fossil fuels must be reduced from providing 80 per cent of current energy needs to nearly 20 per cent by 2050. Sales of new cars with internal combustion engines must halt by 2035 and the fleet of electric vehicles must increase from five per cent today to 60 per cent by 2030, the report also added.

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