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.
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- Ottawa announced extension of its rent subsidy program to support small businesses, known as CECRA, by another month, continuing into August. Despite news, there are calls to extend into fall, expand so more businesses can qualify and allow tenants to apply themselves.
- Trudeau announces CERB to be phased out and expands employment benefits. First people who received the CERB $2,000 monthly benefit will start losing eligibility at the end of August. Move is part of effort to wean Canadians off the benefit and get them back into the workforce.
- Montreal based jet maker; Bombardier announced plans to move its head office from downtown Montreal to Dorval. Moving to Dorval will be into a company owned building allowing to save on rent bringing executives closer to key production facilities.
- Starting today, August 3rd, Quebec indoor and outdoor public gatherings can increase their capacity to 250 people. However, the new rule applies only to public places as gatherings in private residences still limited to 10. New capacity applies to theaters, cinemas, and performance halls.
- Microsoft in talks to buy parts of popular Tik Tok app. After president Trump cited national security risks posed by the Chinese owned app, the president now giving the two firms 45 days to reach a deal. Following news of talks, Microsoft shares rose 3% on Monday.
- New York City’s small businesses are becoming the victims of the economic destruction threatening to derail the city’s recovery from the financial collapse due to the virus. More than 2,800 businesses have closed in the city as they’ve exhausted federal and local assistance.
- HSBC to accelerate earlier restructuring plan includes cutting some 35,000 jobs, after interim profits plunged and bad loans linked to the virus could reach $13 billion. As UK’s largest bank, HSBC’s axing of 35,000 jobs from the global workforce of 235,000 was announced in February.
- Rising COVID-19 cases worldwide and oversupply worries leads to fall in oil prices on Monday, OPEC and allies to wind back output cuts for August. Brent crude fell 18 cents or 0.4% to $43.34 a barrel. Concerns mainly over rise in OPEC+ production coinciding with uneven recovery for oil.
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