Nearly two-fifths (36.5 percent) of all businesses have laid off employees since the start of the coronavirus pandemic, said the Canadian Survey on Business Conditions conducted by Statistics Canada between mid-September to late October. Around three-quarters, or 74.1 percent, businesses have cash or liquid assets required to operate over the next three months, said the report.
* Moderna (MRNA: US) Claims Its COVID-19 Vaccine To Be 94.5% Effective Moderna’s stocks surged following the announcement of the results of its ongoing third phase study. Last week, Pfizer-BioNTech announced that its COVID-19 vaccine showed 90 percent efficacy in the third phase of the study.
* Canada’s Industrial Product Price Index Grew 1% YoY in October: StatCan Statistics Canada reported that October’s Industrial Product Price Index (IPPI) remained unchanged on a month-over-month (MoM) basis. Without energy and petroleum products, the IPPI soared 4.7 percent year-over-year (YoY).