Covid-19 Daily News Updates – Download October 19, 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 Bank of Canada to close two emergency programs it set up to support financial institutions during early days of the pandemic, as demand for all three programs is decreasing. The central bank will close the Banker’s Acceptance Purchase Facility and the Canada Mortgage Bond Purchase as of October 26.
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• The new employment insurance system absorbed some 1.3 million people in the last three weeks as COVID-19 benefits wound down. Figures show that more than 84% of applications had been processed, which experts say is a positive sign for the transition off the CERB.
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Provincial News

• Headquartered in Montreal, Cogeco’s controlling shareholder turns down another raised bid by Altice USA Inc of $8.4billion. Louis Audet, president of Gestion Audet, a private holding company that has 69% of Cogeco’s voting rights, said they were not interested in selling their shares.
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• Town of Mount Royal is expected to become the first municipality in the Montreal region to ban heating oil and dual-energy heating systems. Monday evening, the town’s city council is expected to approve a plan to ban heating oil as of January 1 2025. First-offence fines to be between $500-$1000.
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USA News

• Halliburton Co. posts fourth straight quarterly loss, as the world’s second largest oilfield services provider struggles with the plunge in demand and lower oil prices. Last year, Halliburton recorded more than half its business from North America, and saw revenues drop 66.6% in third quarter.
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• ConocoPhillips buys Permian-focused driller Concho Resources for $9.7billion, all stock and largest shale deal this year as oil & gas producers consolidate to survive slowdown in prices and demand. Concho shareholders to get 1.46 shares of ConocoPhillips for each share held.
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International News

• Bank of England boss, Andrew Bailey, says UK faces “unprecedented level of economic uncertainty”, as Britain’s economy shrank 20% in the three months to June, biggest fall of any large, advanced economy. M. Bailey expects third quarter output to be 10% lower than 2019.
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• World stocks edged higher as hopes of a COVID-19 vaccine by end of year offset concerns of record daily Europe infections. European Blue-chips stocks index, STOXX 50, was slightly positive even with new cases on the rise. MSCI’s broadest index of Asia-Pacific, outside Japan, rose 0.5%.
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