Covid-19 Daily News Updates – Download October 29, 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

• Canadian oil & gas producer Suncor Energy Inc posts quarterly loss hammered by a steep decline in oil prices as pandemic led travel restrictions crush fuel demand. Canada’s second biggest oil company also said it will accelerate workforce reductions of up to 15% over the coming months.
  Source
• TC Energy Corp says it expects the costs for its Costal Gaselink pipeline in British Colombia to rise compared to previously disclosed estimates due to increased scope, delays and COVID impacts. The company also posted a 7.9% drop in profits, its earnings falling to $893million.
  Source
  

Provincial News

• Montreal set to postpone work at 20 of the 64 construction sites for a year. Mayor Valerie Plante made the announcement stating that Montrealers are tired and wants to give them a break. Some of the paused projects include Griffintown and St-Laurent street.
  Source
  
• Around 200 sports centers have backed down after announcing they would defy mandatory closures and reopen October 29th. Instead, they are inviting clients to protest in front of their facilities Thursday while respecting COVID-19 health measures.
  Source
  

USA News

• U.S. economy grew at its fastest pace ever in the third quarter as it begins to put itself back together from the pandemic. The third quarter GDP, measuring total goods and services produced July-September, expanded at a 33.1% annualized pace.
  Source
  
• Moderna preps for the global launch of its potential COVID-19 vaccine, already taking in $1.1 billion in deposits from governments. It already has supply agreements with North America, the Middle East and others. Shares of Moderna were up more than 2% in premarket.
  Source
  

International News

• Luxury brand LVMH has ended a bitter dispute with Tiffany over its deal to buy the U.S. jeweler. The French brand will pay around $425million less to acquire Tiffany and salvage the deal. The new takeover price was set at $131.50 a share, bringing the new total to $15.8billion.
  Source
  
• Samsung Electronics reports record revenue of $59billion in its third quarter. Revenues were fueled by a 50% jump in smart phone sales, while profits from microchips rocketed 82%. Third quarter net profit was $8.3billion, a 49% increase over the same period last year.
  Source
  

Missed a day? Visit our archives page for all Covid-19 Daily News Updates.