Global Markets: GSA letter kicks off presidential transition

By MarketsFarm

WINNIPEG, Nov. 24 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

The United States General Services Administration has formally acknowledged President Donald Trump’s defeat, over two weeks after president-elect Joe Biden was declared the winner. GSA Administrator Emily Murphy wrote a letter beginning the formal transition process between the two administrations. This perfunctory letter also provides millions of dollars in government funding for the transition, and allows the current administration to begin coordinating with the incoming Biden team.

European aviation regulators are closer to allowing the Boeing 737 Max to fly again, following a published directive that may see the aircraft cleared within weeks. The 737 Max has been grounded for nearly two years following a spate of deadly crashes. The European Union Aviation Safety Agency will open a 28-day public consultation period, review the input, and then approve the aircraft for flight.

As COVID-19 vaccine trials continue, some airlines may require passengers to have a COVID-19 vaccine in order to travel internationally. The Chief Executive of Australian-based Qantas said the carrier will “likely require passengers to use [the vaccine] before they can travel abroad or land in Australia,” according to reports. South Korea’s largest airline similarly said there’s a “real possibility” that airlines will require passengers to be vaccinated. Airlines will likely work with governments in the safe re-opening of borders.

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