Covid-19 Daily News Updates – Download July 23, 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.

Federal News

• S&P Global Ratings has affirmed Canada’s AAA credit rating despite the increased cost of shielding the economy from COVID-19. The S&P global rating expects Canada to recover next year. News comes as rival rating firm, Fitch Ratings downgraded Canada to AA+ in June.
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• Ottawa is reporting profits since purchasing the Trans Mountain pipeline. The federal government says the pipeline has earned a net income of $29 million from operating revenues of $728 million in the 19 months since purchased.
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Provincial News

• Quebec based Bombardier announced it secured a loan of up to $1 billion and its second quarter cash usage was expected to be about $500 million less than estimates. This now signals that it will have enough liquidity to survive the pandemic, which will go to working capital.
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• The pandemic is forcing La Cage restaurant owners to scale back operations and will cut about 660 jobs as demand is weaker and sports events are lacking. These cuts represent permanent closures of four restaurants and are 30% of its workforce.
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USA News

• As the $600 a week boost to jobless benefits is set to expire, Republicans are now considering extending the enhanced unemployment benefit but at a drastically reduced level of $400 per month. This comes as some 30 million are still receiving some form of unemployment benefits.
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• As virus cases see a resurgence in the US, layoffs remain stuck at an elevated weekly level above 1 million since the start of the pandemic in March. The pace of unemployment benefit applications have stalled at double record highs. Businesses face new cuts, and some may close indefinitely.
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International News

• Europe unveils changes to its financial regulations, known as Mifid II, which initially led separation of the trading and research arms of brokerage firms. The commission now believes regulations are preventing investments into economy by facilitating financing to companies.
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• UK trade deal with the EU still unlikely has new negotiations lead to another deadlock. Both sides are accusing the other of unwillingness to compromise before the transition period runs out. Latest outcome saw UK accusing the EU of failing to treat the UK as an independent country.
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