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Global Markets: Pfizer vaccine looks promising

But unlikely to be ready by year's end

By MarketsFarm

WINNIPEG, Nov. 9 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Pfizer announced on Monday that its coronavirus vaccine could be 90 per cent effective as testing continues. The data is based on 94 infections in a study that encompasses 44,000 people in six countries, including the United States Pfizer and its partner BioNTech said the early results are promising, but were unusually higher, cautioning that could change as more results are studied. Authorities in the U.S. stressed it’s highly unlikely the vaccine would be ready before of the end of the year. The Pfizer vaccine is one of the seven the Canadian government has pre-ordered.

– Air Canada posted its third consecutive quarterly loss on Monday, with the airline losing C$685 million in the third quarter. A year ago Air Canada recorded a profit of C$636 million. The airline said its operating revenue for the third quarter fell 86 per cent to C$757 million. That’s far lower than analyst projections of C$1.06 billion.

– Former Vice-President Joe Biden and Sen. Kamala Harris were declared to President-elect and Vice-President elect on Saturday after the counting of ballots in Pennsylvania was completed. The state’s 20 Electoral College votes went to the Democrats, making Donald Trump the first one-term president since George H.W. Bush in 1992. However, Trump continues to make allegations of widespread voter fraud without providing any evidence of such, while proclaiming he will pursue the matter all the way to the Supreme Court.

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