November 16, 2020 - Biz in 60

Moderna shares soar after it says vaccine is 94.5% effective Shares in Moderna jumped more than 10 percent after the US drug-maker said its COVID-19 vaccine is nearly 95 percent effective. Moderna's trial involved 30-thousand people across the United States, with half given two doses of the vaccine, four weeks apart. This comes just days after Pfizer announced its vaccine against the virus was 90-percent effective Japan's economy grows 5% in third quarter Japan's economy has returned to growth in the third quarter thanks to a surge in domestic demand and exports. Gross domestic product grew by five percent in the July-September period, following three consecutive quarters of contraction due to the coronavirus pandemic. At an annualised rate, the world's third largest economy expanded by 21-point-4 percent. Aramco to sell billions of dollars in international bonds Saudi Aramco is planning to sell billions of dollars in international bonds to bolster its finances. In a filing with the Riyadh stock exchange, Aramco said it would issue dollar-denominated bonds with maturities of between three and 50 years. The world's biggest oil producer has been hit by lower oil demand and crude prices during the COVID-19 pandemic.