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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- Prime minister Trudeau says he plans on keeping the border with the U.S. closed as long as COVID-19 cases remain high in the US. As of now, the Canada-U.S. border is to stay closed until October 21. The closure is reviewed on a monthly basis.
- The Royal Bank of Canada announces its first ever artificially intelligent computer program for
stock trading. The new technology, named Aiden, was developed by Borealis AI, an artificial intelligence-focused research center founded by RBC in 2016.
- The Quebec forest industry is draining public funds and is doomed to decline. In 2020, aid for the industry is expected to reach $485 million and where it employed 100,000 people in 2001, it now counts 59,000. Calls are growing for a change in methods of subsidies.
- Teo Taxi is back in full force, as announced by new owner, Pierre-Karl Péladeau. The fully electric taxi service had to close its doors five years ago due to insurmountable debt, but the new owner has full confidence in its new launch hoping to put out 120 new electric vehicles a year.
- U.S. stock futures were lower on Thursday morning as traders continued to weigh the prospects for a COVID-19 aid deal being reached before the elections. Dow Jones Industrial Average futures were down 296 points and S&P 500 and Nasdaq 100 futures also traded in negative.
- United Airline posts wider than expected third quarter loss as the pandemic continues to affect air travel. The airliner posted a net loss of $1.8 billion in the three months ending September 30, compared to a $1 billion profit last year, and revenue in the period dropped 78%.
- EU set to formally reject UK plea for special allowances for exports of electric cars in a post-Brexit trade deal. The draft addition to the deal states that electric and hybrid cars to only get zero tariffs if a majority of the parts’ value is from the two areas.
- Oil prices fell Thursday as new restrictions to stop a new surge in COVID-19 cases have increased uncertainty over the outlook of economic growth and a recovery in fuel demand. Brent Crude futures dropped 70 cents and U.S. West Texas Intermediate crude futures were down 60 cents.
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