Covid-19 Daily News Updates – Download August 27, 2020
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 cam be hectic. This is meant to serve as another resource you can rely on from our team to help support you.
For your convenience we’ve prepared a downloadable PDF of Covid-19 Daily News Updates and headlines. You can download your copy that you can share with your team here. Click Here to Download a PDF version.
- The federal government is giving an additional $2 billion to provinces and territories to help ensure children’s safety as they return to school. Funding to be allocated is based on each province’s number of students and can spend the money as they see fit to bolster their efforts.
- Bombardier is announcing more job cuts coming this October for its Thunder Bay plant. COO, David Van Der Wee says more than 200 layoffs are expected in the coming months. He states that although efforts were sought to bring in smaller contracts, nothing is left in the pipeline.
- Thousands of Quebec students back to school today under new guidelines and measures. Sanitary measures that were put in place at the request of the province’s education minister will be put to the test. Masks are mandatory in hallways and some group settings for kids in grade 5 and up.
- Quebec based BRP Inc., Skidoo and Sea-Doo maker, is reporting a second quarter revenue drop of 15.5% compared to a year ago as it suspended production due to the virus, but insists demand is still high. Revenue totalled $1.23billion, down from $1.46 billion in the same quarter a year ago.
- U.S. Cosmetics maker Coty Inc. posted a bigger than expected quarterly loss and a 56% slowdown in sales as virus forced stores and parlors to shut their doors which battered demand. New York based Coty has been grappling with debt and trying to reinvigorate business by branching out.
- First time applicants for unemployment benefits are above 1 million for the 22nd time in 23 weeks, as the U.S. is still struggling to recover. According to Jamie Coxx, managing partner at Harris Financial Group, the number represents a highly stressed labor market and more needs to be done.
- European shares opened lower on Thursday than the MSCI’s main European index. MSER was down 0.1%. The Pan-European STOXX 600 was down 0.1% but still close to two-week highs. Finally, offshore Chinese yuan CNH=EBS hit a 7-month high versus the dollar.
- According to a global travel data firm, flights within China are expected to fully recover by the start of next month. Air travel has been gradually picking up since the virus grounded the majority of planes and this month’s domestic arrivals reached 86% of 2019 levels.
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