China is the biggest economy to back the initiative so far. Neither the United States nor Russia have signed up.
China has officially signed an agreement to join the World Health Organization-led COVAX facility, a global COVID-19 vaccine project to ensure poorer countries have access to life-saving vaccines.
China is the biggest economy to back the initiative so far. Neither the United States nor Russia has signed up.
Foreign ministry spokeswoman Hua Chunying said in a statement posted to Twitter that China’s decision was “an important step to uphold the concept of a shared community of health for all and to honour its commitment to turn COVID-19 vaccines into a global good”.
The COVID-19 Vaccines Global Access Facility (COVAX) is led by the World Health Organization (WHO), the Coalition for Epidemic Preparedness Innovations (CEPI) and Gavi, the Vaccine Alliance and aims to deliver some two billion doses of vaccine around the world by the end of next year.
COVAX will pool financial and scientific resources and bring richer countries together with 92 low- and middle-income economies such as the Philippines and Indonesia, which are eligible for financial support for the procurement of vaccines through the Gavi COVAX Advance Market Commitment (AMC).
COVAX aims to develop at least three safe and effective vaccines that can be made available to those participating in the scheme.
Earlier this month, Antonio Guterres, the secretary-general of the United Nations, reiterated his call for a “quantum leap in support” for the global vaccine plan, saying it needs an additional $15bn in funding by the end of the year.
China is signing up to COVAX as countries in Europe, the US and beyond battle a resurgence of the virus that first emerged late last year in the central Chinese city of Wuhan.
The US has recorded the most cases and the most deaths but has not backed COVAX, instead securing supplies through bilateral deals.
Hundreds of thousands of people in China have already been injected with experimental vaccines, with at least three companies there in the final stages of clinical trials.
The government has said it may have a coronavirus vaccine available as early as next month and Hua said developing countries would be given priority.
“The COVID-19 pandemic still poses a severe threat to the safety and health of people in all countries,” she said. “China continues to focus on ensuring that developing countries have equal access to appropriate, safe and effective vaccines.”
Warning: Don't Save in Your TFSA! Do This Instead – The Motley Fool Canada
Too many Canadians are still saving in their Tax-Free Savings Account (TFSA)! However, the Bank of Canada is planning to keep the benchmark interest rate at close to zero at least until 2023. This means that if you put money in a savings account or guaranteed investment certificate (GIC), you won’t make much.
Instead of saving in your TFSA, you should consider investing in it. Currently, the best three-year GIC rate is offered by EQ Bank and going for 1.15%. The long-term average Canadian stock market returns are 7% — six times what you would make from the GIC.
You can potentially make even greater returns by placing your money in specific stocks. If you like consistent income, you would be interested in Toronto-Dominion Bank (TSX:TD)(NYSE:TD) and TC Energy (TSX:TRP)(NYSE:TRP).
Both are wonderful businesses, but their stocks have sold off recently, making them attractive long-term investments that should outperform market returns over the next few years.
TD stock provides a 5.4% dividend
Because of pandemic disruptions to the economy, higher credit losses are expected at the Canadian banks this year. TD stock has become particularly attractive among the big Canadian banks given its quality and growth potential on an economic rebound, especially with its meaningful exposure to the U.S. retail banking market.
TD stock’s correction of 22% in the last 12 months is the perfect opportunity to buy for an elevated dividend yield of 5.4%. This is 35% more income than its appealing yield of 4% in a normal economy.
Importantly, the stock is undervalued for long-term investment. In a normal year, TD generates revenues of about $38 billion and net income of more than $11 billion. Inevitably, this year, its revenues and earnings are going to be lower.
At about $58.50 per share at writing, the compelling stock can deliver total returns of about 15% per year over the next three to five years. Furthermore, you can expect its dividend to increase during that period.
TC Energy offers a 6.1% dividend
TC Energy is a resilient business that provides essential services in the energy sector. It just reported its third-quarter results today. Management highlighted that the company’s operations, flows, and utilization levels remain in line with historical and seasonal norms.
Year to date, its revenues only dipped 3% and its comparable EBITDA essentially stayed flat against the same period in the prior year. Moreover, its earnings per share actually climbed 15% to $3.55, putting its payout ratio at 68% for the period.
TC Energy’s defensive business performance doesn’t really warrant the stock’s decline of 20% in the last 12 months. It also has a secured capital program of $37 billion from 2020 to 2023 to grow its business. About $5 billion of the projects are expected to complete this year.
At about $52.90 per share at writing, the attractive stock can deliver total returns of about 15% per year over the next three to five years. A dividend increase of 5-7% per year should be no problem for the Canadian Dividend Aristocrat.
The Foolish takeaway
Understandably, Canadians might want to be conservative with their money-management strategies during the pandemic. Investing in blue-chip dividend stocks like TD stock and TC Energy stock is as conservative as it gets in the stock investing world.
Take a closer look at the businesses and consider investing in their undervalued stocks in your TFSA for outsized tax-free income and returns in the long run.
Speaking of attractive stocks to check out…
Motley Fool Canada‘s market-beating team has just released a brand-new FREE report revealing 5 “dirt cheap” stocks that you can buy today for under $49 a share.
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Fool contributor Kay Ng owns shares of The Toronto-Dominion Bank and TC Energy.
Shoppers' privacy violated at major Canadian malls: Privacy commissioners – CBC News: The National
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- Shoppers’ privacy violated at major Canadian malls: Privacy commissioners CBC News: The National
- Cadillac Fairview collected millions of images of shoppers at malls across Canada: Privacy watchdog CP24 Toronto’s Breaking News
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Man rushed to hospital after possible assault in Rexdale – CityNews Toronto
A man has been rushed to hospital after possibly being assaulted in Rexdale.
Officers were called Mount Olive and Silverstone Drives just before 7:30 p.m. to reports of an assault.
The victim was found unconscious on the scene and was taken to hospital in serious condition.
Police say it appears the man suffered a head injury.
No further details have been released at this point.
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Warning: Don't Save in Your TFSA! Do This Instead – The Motley Fool Canada
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