Covid-19 Daily News Updates brought to you by Skyline Entourage to support businesses during the Covid-19 pandemic. We know as business owners and marketers that working from home can be hectic. This is meant to serve as another resource you can rely on from our team to help support you.
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- Cineplex Inc has sold its head office building in Toronto for $57 million as it needs cash to pay down its credit facilities. The company still plans to lease back its Toronto office for up to a decade but wants to consolidate its office space in the city.
- Canadian giant Magna International signs a deal with LG Electronics to create a joint venture to build components for electric cars. The Canadian auto parts company says the deal will manufacture e-motors, inverters, and onboard chargers.
- Although the fast-tracked orderly training program added a lot of manpower this summer, out of 10,000, more than a third didn’t finish their training, either because they flunked or gave up because they were unwilling to cope with demands of the job.
- Quebec premier urging Ottawa to crack down on Canadians vacationing abroad. Legault said to be on the same page as Ontario premier Ford, denouncing the federal government’s slowness in intervening, as airports and borders are not provincial jurisdictions.
- Number of Americans filing for first-time unemployment benefits fell last week, although still high as more businesses face restrictions. Initial claims for state unemployment benefits totaled a seasonally adjusted 803,000 for the week ended Dec. 9th.
- Executives from United American Airlines have announced plans to bring back thousands of furloughed employees in response to Congress passing the latest COVID-19 relief legislation. The new law set to include an extension of the airline industry’s payroll support program.
- British pound gains after France reopens its borders to UK traffic. The sterling rose 0.25% against the euro to €1.1018 this morning. France has overturned its travel ban for haulers who have a negative COVID-19 test. However, the transport union warns that testing has stranded drivers.
- Oil has stabilized today following earlier losses sparked by an unexpected rise in US crude oil inventories. Brent crude futures up 2 cents to $50.10 a barrel, while West Texas Intermediate crude futures gained 1 cent to $47.01 a barrel.
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