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Coronavirus crisis is just going to heat up condo market, says developer

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Bjorn Lomborg: As we begin our global climb out of the coronavirus depression, we shouldn’t start by letting bad green deals make us poorer

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,…

Posthaste: Slowing population growth will drag on Canada’s housing market through 2021

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…

David Clement: Open Canada’s air travel market

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…

Philip Cross: Suddenly ‘dead money’ is a dead idea

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…

Via Rail laying off 1,000 employees across Canada

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…

Ottawa vows to adjust wage subsidy for the reopening, but businesses still waiting

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.…

Canada needs a new fiscal anchor if its borrowing spree is to continue

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’s stock surge puts Elon Musk within reach of $1.8 billion payday

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…

Canada’s COVID-19 fiscal snapshot — the numbers that matter

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…

The way out of COVID-19’s economic hole looks slow, uneven and bleak: fiscal snapshot

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…

Liberals’ fiscal snapshot predicts $343 billion deficit as Morneau offers little intention to curb spending

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…

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US House poised to vote on reversing Trump’s Muslim ban

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