After the ravages of the coronavirus pandemic, the world will be spending trillions of dollars to get us back on track. Increasingly, campaigners and influential policymakers demand this spending be tied to climate goals. IMF chairwoman Kristalina Georgieva urges “We must do everything in our power to make it a green recovery,” and U.S. Democrats,…
Good Morning!The coronavirus pandemic has slammed the brakes on Canada’s population growth and that may be a ticking time bomb for our housing market.A new study by TD Economics downgrades its outlook for the housing market from its April forecast and predicts that Canadian home price growth will slow in the second half of this…
The war between Canadian consumers and Air Canada drags on, with the airline still refusing to issue refunds for cancelled flights departing from Canada. To make matters worse, Transport Minister Marc Garneau says the Trudeau government will not force airlines to issue refunds.Getting money back when a business doesn’t provide a service is pretty basic…
The government-ordered shutdown of the economy is playing havoc with corporate balance sheets, pushing many companies to the edge of bankruptcy. Which makes it a good time to revisit former Bank of Canada governor Mark Carney’s 2012 denunciation of corporate savings as “dead money” that would be better spent than saved. Carney made his incendiary…
The decline in ridership resulting from the COVID-19 pandemic has forced Via Rail to lay off approximately 1,000 unionized staff across the country, the company announced Wednesday afternoon.The Crown corporation indicated that affected employees will be notified and that departures will take effect on July 24. The breakdown of layoffs by regions was not immediately…
The federal government on Wednesday said changes are coming soon to its key subsidy for workers’ wages during the COVID-19 pandemic, a vow that comes as businesses are hoping the program’s criteria will be eased to allow more firms to partake.After proposing on May 15 to extend the then-12-week-long Canada Emergency Wage Subsidy until Aug.…
Fitch Ratings’ wobble last week on Canada’s credit worthiness has forced the Finance Department to adjust its marketing material.“Canada remains among the top rated countries in the G7 and continues to hold a AAA rating, with a stable outlook, from all major credit rating agencies except Fitch,” Finance wrote in the Economic and Fiscal Snapshot, which…
Tesla Inc’s blistering stock rally is putting Chief Executive Elon Musk in reach of a payday potentially worth US$1.8 billion, his second jackpot from the electric car maker in about two months.Fueled by stronger-than-expected car deliveries, shares of Tesla have surged over 40% in the past seven sessions, elevating the company’s market capitalization to US$259…
OTTAWA — Canada’s federal government presented an economic and fiscal “snapshot” today. Here are some of the numbers:Estimated federal deficit for 2020-21: $343.2 billionDirect federal aid to individuals and businesses as a result of COVID-19: $212 billionNumber of Canadians who were laid off or had their hours cut as a result of COVID-19 between February…
Author of the article:Ryan TumiltyPublishing date:Jul 08, 2020 • • 2 minute readA stylist cuts a customer's hair at a barbershop in Toronto, Ontario, Canada, on Wednesday, June 24, 2020. Cole Burston/BloombergArticle contentOTTAWA – The government believes rebuilding Canada’s COVID-19 crippled economy will be a slow, drawn out and uncertain challenge extending for years, even…
Author of the article:Jesse SnyderPublishing date:Jul 08, 2020 • • 4 minute readMinister of Finance Bill Morneau takes part in a media lock-up for the federal government's Economic and Fiscal Snapshot 2020 in Ottawa on Wednesday, July 8, 2020. Sean Kilpatrick / The Canadian PressArticle contentOTTAWA — The federal government expects to post a $343-billion…
Chad Wolf, acting secretary of the Department of Homeland Security, hit back at a press conference in DHS headquarters in Washington, D.C. on Tuesday against media reports that the Trump administrati…
President Donald Trump raised an eye-popping $20 million on Tuesday night in his first-ever virtual fundraiser, from a total of more than 300,000 individual donors who participated. This is a great …
The American Civil Liberties Union (ACLU), as well as other migration lobbying organizations, claims it is “unconstitutional” not to count illegal aliens when apportioning congressional representatio…
The United States House of Representatives is set to vote on Wednesday on legislation reversing President Donald Trump's controversial ban on immigration from Muslim countries. The bill, called the …
