Covid-19 Daily News Updates – Download July 10, 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

• Canada added almost one million jobs in June and the jobless rate fell to 12.3%. More than half the new jobs came from Ontario and Quebec which added 378,000 and 248,000, respectively. However, there are still 1.8 million fewer jobs in Canada than there were in February.
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• Canadian builders started construction on more new condos, apartments and other multi-family homes in June compared to May. Economists think very low interest rates and government support programs like CERB helped boost household incomes despite soft job market.
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Provincial News

• In an effort to lure people back on the downtown streets of Montreal, two shopping centers are offering cheap parking. The Palais des Congrès, which houses a shopping mall has cut parking rates by 40% and the Complexe Desjardins has cut in half its rates at nights and on weekends.
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• Montreal’s MTY Food Group Inc reports second quarter loss of $99.1 million as company took a $120.3 million non-cash impairment charge related to property, plant, and equipment among others during the pandemic. The group holds brands like Thai Express, Tutti Fruitti and Valentine.
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USA News

• U.S. state and treasury departments have hit China with sanctions for their involvement in human rights abuses in the Xinjiang region. Along with these sanctions, President Trump has also levied visa restrictions for some Chinese officials. China says it will reciprocate accordingly.
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• Using data from money fund specialist Crane Data, experts estimate that the Federal Reserve’s interest rate cuts are costing money market mutual fund investors more than $60 billion in income. The reasoning behind being that money fund yields fell 90% since beginning of March.
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International News

• A Surge in COVID-19 cases in the US drove the safe haven Japanese yen up by 0.5% to a two-week high of 106.72 per dollar. According to currency analyst, the yen has been trading within a tight trading range throughout the crisis.
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• The International Energy Agency (IEA) bumped up its 2020 oil demand forecast to 92.1 billion barrels per day but warns that spread of COVID-19 could pose a risk for the outlook. This new forecast is up 400,000 from last month. Easing of lockdowns caused a rebound in fuel deliveries.
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