Airline bailouts, a new streaming news service and how a new administration could impact commodities
Airline bailout stipulations: Canadian airlines must refund customers for any flights cancelled due to COVID19 before the airline is eligible to receive federal aid, reports The Globe and Mail. Transport Minister Marc Garneau outlined the stipulations as part of the long anticipated financial bailout package for the airline and aerospace industries.
Almost 90 percent of flights have been grounded in the country since mid-March, and many carriers have refused to refund or issue credit for their passengers. The Canadian Transportation Agency has received roughly 8,000 complaints from airline customers since mid-March when airlines began cancelling flights due to the pandemic.
New streaming news: Bloomberg LP has launched a streaming news service built around its social media brand QuickTake. The news channel will be available on streaming services including Apple TV, Roku and Amazon Fire TV, and will offer more general-interest and lifestyle news than Bloomberg’s finance-centered news terminal content.
Per The Wall Street Journal, QuickTake was created in 2017 and is currently viewed by 50 million unique visitors per month. With more than 100 employees working for the streaming service, the company hopes to attract a younger audience with its editorial style content.
Trade wars and tariffs: U.S. commodity industries found themselves the focus of an aggressive trade policy agenda under the Trump administration. Even previously overlooked markets were on Trump’s radar, causing a tumultuous four years for industries suddenly experiencing new tariffs and subsidies. Bloomberg explains what that could mean for several commodities like steel, aluminum and oil now that Biden is expected to take office in January.