Covid-19 Daily News Updates – Download July 9, 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.
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- Canada’s finance minister Morneau stated the government will not ease travel restrictions rejecting Air Canada’s plea. Morneau said he understands the hardships that airliners are going through but noted they also used the federal wage subsidy. Morneau states easing would present additional risks.
- Fiscal snapshot, coming in at deficit of $343 billion for 2020-21 year, is much greater than anticipated. Morneau is also changing strategy for issuing longer-dated-bonds, acknowledging that rising debt levels are making the nation’s finances vulnerable to a rise in interest rates.
- Quebec government to impose a midnight shutdown of bars to curtail a second wave of the virus. The midnight cutoff represents a 3-hour loss of business and will go into effect this weekend. There will also be a requirement by customers to sign a register for tracing purposes.
- Following in the footsteps of Montreal, the entire province of Quebec could soon require people to wear a mask in all indoor public places. Quebec health officials say “intense analysis” on their way to make announcement soon. Opposition parties are on board with the potential decision.
- United Airlines could furlough up to 36,000 workers which would represent half of the company’s US based frontline workers. The airliner expects a 75% decline in capacity this month. United Airlines to receive $5 billion in funds and won’t make any of the job cuts until October.
- Growing fear for investors that the government will pull crucial relief for struggling businesses and workers. Congress passed $2 trillion in aid in March but the $600 in extra weekly unemployment benefit has become a factor for tension. The add-on has helped restart consumer spending.
- Alstom to offer French rail factory sale along with other concessions in an effort to secure a deal to purchase Bombardier’s transportation business which needs European Commission approval. The bid is valued at €6.2 billion and has faced scrutiny from EU antitrust authorities.
- HSBC could be forced to pick sides over its hometown of Hong Kong amidst the ongoing political storms in the region. The bank, known for straddling the line between East and West, has proven lucrative in global banking. HSBC has publicly backed the controversial security law from China.
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