Global Markets: Netanyahu era comes to an end

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

– Israel’s parliament, the Knesset, approved the new coalition government led by Naftali Bennett on Sunday by a 60-59 vote, effectively ending the 12-year tenure of now-former Prime Minister Benjamin Netanyahu. Bennett, Netanyahu’s former Chief of Staff, will now lead a coalition consisting of eight political parties across the political spectrum, including two others led by former Netanyahu supporters. Bennett vowed to be tough against Palestinian violence towards the Israeli state and to become a unifier in parliament in his speech, while Netanyahu called Bennett’s government “leftist” and “evil and dangerous.”

– The Group of Seven (G7) Summit ended at the seaside community of Carbis Bay, United Kingdom on Sunday with leaders from seven of the world’s leading democracies making pledges to take action on the COVID-19 pandemic and climate change. The leaders promised to share more coronavirus vaccine doses with developing nations totalling up to two billion doses from last February to next year. Canadian Prime Minister Justin Trudeau announced his government will double Canada’s climate finance contribution from C$2.65 billion to C$5.3 billion. Leaders also agreed to establish infrastructure projects without financing from China.

– Vaccine maker Novavax claimed on Monday its vaccine is 90 per cent effective against COVID-19, as well as effective against its variants. The company conducted a study of nearly 30,000 adults in the United States and Mexico where two-thirds received two doses three weeks apart and the rest received placebos. None in the vaccine group had moderate or severe disease while 14 did in the placebo group. The company plans to seek authorization in the U.S. and Europe by late September and said it will offer its vaccine to under-vaccinated developing nations.

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