Covid-19 Daily News Updates – Download July 24, 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

• The Business development Bank of Canada changed priorities this year due to the pandemic and shifted to provide more liquidity during challenging times. The BDC says its clients accepted $7.4 billion in loans, up 2.5% from last year. The bank incurred a consolidated net loss of $218 million.
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• Canada’s biggest grocer, Loblaws Co. saw s jump in second quarter sales but extra costs due to the pandemic hurt profits. Its revenue climbed 7.4% from the prior year but adjusted net earnings slumped 29% due to extra spending. Loblaws is now reporting a lower rate of cost increase.
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Provincial News

• Montreal based carrier Air Transat is resuming operations after a 112-day shutdown. The airliner will fly on a reduced summer schedule with sanitary guidelines across 20 destinations. The VP of corporate affairs says that “there are still fears but people are wanting to start to get away”.
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• Many Quebec business owners are complaining that several workers are refusing to come back to work because of the CERB program. Many owners, like Manon Giroux, boutique owner says that 40% of her workforce has refused coming back preferring to stay on the CERB and at home.
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USA News

• Silver sees its biggest jump in seven years, now at a record high, as a falling U.S. dollar and record low interest rates have investors rushing for other safe havens. The metal jumped 18% this week, reaching $23.24 an ounce. The jump in silver price is now outpacing gains in gold.
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• Stocks making important moves in premarket: Verizon saw quarterly profits of $1.18 per share, 3 cents a share above estimates, American Express reports quarterly earnings of $0.29 per share, Honeywell beat estimates by 5 cents a share, Intel and Mattel also saw increases.
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International News

• European shares fell today as global sentiment soured after Beijing told the US to close its consulate in a Chinese city as retaliation for a similar action. The pan European STOXX 600 index fell 1.5% putting it on track for its biggest drop in a month.
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• Tensions keep mounting between China and the U.S. China has now ordered the U.S. to close its consulate in the southwestern city of Chengdu, retaliating against Washington which ordered the closure of the Chinese consulate in Houston. The Chinese notice is for 72 hours.
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