La Libra, Facebook's digital currency, announced for 2021 in reduced format

The launch of Facebook's digital currency, Libra , could take place in 2021. The project may benefit from favorable factors in the global economy, but regulators will have to be convinced first.  Facebook could launch Libra, its digital currency in 2021, we learn from the British media Financial Times, which quotes people close to the process. The product is expected to arrive in a limited version, after the project has met with great aversion from regulators, including in the United States, the country where the headquarters of the social media management company are located. The stakeholder association behind this digital currency project is now planning to launch a single version of Libra that will itself be pegged to the dollar, at the rate of one unit of US currency for each Facebook digital currency . “The other forms of currencies will be deployed at a later stage,” the FT source added. The exact launch date will depend on when the project

CoronaVirus: around 90% of manufacturing companies will close | Canada

This is undoubtedly unheard of in Quebec’s contemporary history: about 90% of manufacturing companies will have to close their doors until April 13, a situation that is most worrying Quebec Manufacturers and Exporters (MEQ). "We understand the decision, but we fall at the bottom of our chair," drops MEQ CEO Véronique Proulx, saying that she has had "no signal" announcing such a decision.
CoronaVirus: around 90% of manufacturing companies will close | Canada

In Quebec, the manufacturing sector has 2300 companies that employ 500,000 workers, and whose sales total C $ 165 billion per year. According to MEQ's estimate, about 90% of businesses could close. On Monday noon, Prime Minister François Legault ordered non-essential businesses to cease all activities by midnight Tuesday night until April 13 to limit the spread of coronavirus in Quebec.

As Ontario has made the same decision, this means that Canada's manufacturing core is on hiatus for the next three weeks. This means that tens of thousands, and possibly hundreds of thousands, of workers will find themselves on forced leave. There are, however, several exceptions to this measure, including grocery stores, pharmacies, food chain components, firefighters, police and of course the health service.

While the official list has just been published, several companies in the manufacturing and industrial sectors contacted by The Canadian Press had no clear answer to offer in the wake of the Legault government's announcement. In a press release, Cascades, which manufactures toilet paper and packaging, said it ensures "continuity" of its activities. "

Subsidies, not just loans, MEQ says.

Of course, businesses that can do so have permission to continue operating remotely, including using communications technologies or software to operate production lines remotely.

Véronique Proulx believes that this decision by the Legault government broadly spares four major sectors deemed essential, namely the food, energy, medical, as well as transport and logistics. According to her, essential companies also include suppliers to producing companies in these four major sectors. The closure of some 90% of Quebec's manufacturing companies worries Véronique Proulx.

"Our concern is that many manufacturing SMEs cannot get through this crisis," she said. According to her, although they suffer from this situation, large companies often have stronger backs to absorb such a shock. This is why MEQ is asking the Legault government to improve and diversify its aid to give business oxygen.

"Quebec currently offers loans, that's good. But they have to be reimbursed. However, there is a limit to corporate debt. So add subsidies and measures to provide liquidity quickly, ”says Véronique Proulx. Quebec could, for example, quickly decree a moratorium on the tax burdens of businesses such as those for the CSST. "This would quickly provide cash and cash to businesses," she said. Investissement Québec could also transform loans into grants, suggests the CEO of MEQ.