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The Daily Chase: U.K. begins COVID vaccinations; food prices set to rise – BNN Bloomberg

The Daily Chase: U.K. begins COVID vaccinations; food prices set to rise – BNN Bloomberg

The world is watching the U.K. as it becomes the first Western country to roll out a COVID-19 vaccine to its citizens. Those over 80 years of age are the first in line to get the vaccine from Pfizer and BioNTech with tens of thousands expected to follow in the coming days. Here in Canada, Ottawa has secured enough potential vaccines to inoculate four times the population, with the first batch of the Pfizer and BioNTech vaccine expected to arrive next week. Approval from Health Canada for this vaccine is expected this week.

FOOD PRICES HEADING HIGHER IN 2021

A new report says food prices in Canada will be heading higher next year, pushing grocery bills up to five per cent higher. That translates to about $695 more a year for an average family of four. The 2021 Food Price Report says the pandemic, wildfires and changing consumer habits are behind the higher food prices.

GRIDLOCK CONTINUES ON STIMULUS TALKS

Investors will continue to keep an eye on developments out of Washington as lawmakers are still working to agree on measures to fund the U.S. government and provide another virus relief package. Covid cases continue to increase south of the border and hospitalizations reached another all-time high yesterday, raising the specter of further lockdowns. According to data from Johns Hopkins University, there are more than 14 million confirmed coronavirus cases in the U.S.

OTHER NOTABLE STORIES

-Saskatchewan set to reveal details of its rollout plan for the COVID-19 vaccine

-Shares of Tesla are down in pre-market trading after the company said it was looking to sell up to $5-billion in common stock, its third capital raise this year

-Goldman Sachs is looking to buy 100% ownership of its securities joint venture in China, making it the first global bank to seek full ownership of its securities business in China

NOTABLE RELEASES/EVENTS

-8:00 a.m. ET The Office of the Superintendent of Financial Institutions will make its semi-annual Domestic Stability Buffer (DSB) level-setting announcement

-9:00 The Parliamentary Budget Officer (PBO) will post a new PBO report entitled ″Trans Mountain Pipeline – Financial and Economic Considerations – Update”

-9:00 Enbridge holds virtual investor conference

-11:00 a.m. ET Restaurants Canada CEO Todd Barclay and restaurants owners from across Canada will speak to the state of their industry, which is one of the hardest hit as a result of the pandemic – and call for a national working group of government and industry to help save the restaurant and food service sector.

-4:30 p.m. ET – Saskatchewan COVID-19 update. Premier Scott Moe and Dr. Saqib Shahab will provide and update on COVID-19 restrictions for Saskatchewan. (TBC)

-DoorDash expected to price initial public offering

Every morning BNN Bloomberg’s Managing Editor Noah Zivitz writes a ‘chase note’ to BNN Bloomberg’s editorial staff listing the stories and events that will be in the spotlight that day. Today’s note was written by Senior Producer Alicia Harvey. Have it delivered to your inbox before the trading day begins by heading to www.bnnbloomberg.ca/subscribe.

Published at Tue, 08 Dec 2020 13:03:08 +0000

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Written by Riel Roussopoulos

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Average Canadian family will spend $695 more on food in 2021: report

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