Uncategorized
Oil powers ahead as critical OPEC+ meeting looms, markets rally
Oil rebounded from its biggest slump since November ahead of a key OPEC+ meeting that may see some supply returned to a fast-tightening market. …
Bloomberg
Columnist
Business
AstraZeneca’s COVID antibody drug heads into advanced trials
AstraZeneca Plc started late-stage trials for an antibody medicine against Covid-19 with a large investment from the U.S. Two trials for more than 6,000 people are starting in the next few weeks looking at prevention, with plans for a further 4,000 adults to test the antibody medicine as a treatment, Astra said in a statement. The drug will be assessed for its ability to avoid infections for as much as a year in some people and as a pre-emptive medicine once patients have been exposed to the virus in others.
Economy
Bank CEOs said to warn feds against spiraling Canada debt
Canada’s largest lenders are warning Prime Minister Justin Trudeau’s government it doesn’t have carte blanche to run massive budget deficits, even though there’s some room for additional spending in the next couple of years. Finance Minister Chrystia Freeland held a call with chief executives from the nation’s biggest banks last week to discuss the economic outlook and potential policy steps. She was told that while low interest rates provide some scope to borrow more in coming years to support the recovery, it’s imperative the government recommit to specific new debt targets to impose discipline on the budgeting process, according to one person familiar with the discussion.