Economy

After initial economic rebound, brace for a ‘stall-out’ phase that could last six to 18 months

Article content continued ‘Less bad’ seen as good will be the reality for many, many months Michael White, Picton Mahoney Asset Management The Great Recession dragged on because policy-makers hesitated in the beginning. They didn’t make that mistake this time. The economy crashed into a cushion of hundreds of billions of dollars rather than hard …

After initial economic rebound, brace for a ‘stall-out’ phase that could last six to 18 months Read More »

Apple Closes Many Retail Stores Back Down

Tech giant Apple has reclosed 11 of its stores in Southern California, Maryland, Ohio, and Tennessee due to local increases in Wuhan coronavirus infections. This makes a total of 91 American stores that have been closed back down after opening. 9to5Mac reports that tech giant Apple has chosen to close 11 of its retail stores in the …

Apple Closes Many Retail Stores Back Down Read More »

Canada's giant deficit may have been needed, but the hard part will be digging our way out of it

Future Canadian policy-makers will know how much it costs to prevent a recession from turning into a depression thanks to this week’s major economic events: It will be roughly $340 billion in 2020 dollars. Finance Minister Bill Morneau’s spending estimate for his fight against the COVID-19 crisis, characterized by more than one pundit as “eye-popping,” …

Canada's giant deficit may have been needed, but the hard part will be digging our way out of it Read More »

Stephen Poloz’s quick jump into Corporate Canada looks bad, but is there more to it?

Stephen Poloz, the former Bank of Canada governor, might have waited a few days before enlisting with Enbridge Inc., North America’s biggest pipeline company. You know, for appearances, just in case the more cynical among us conclude he was looking out for No. 1 instead of fixating on the COVID-19 crisis. Instead, Poloz, who turns …

Stephen Poloz’s quick jump into Corporate Canada looks bad, but is there more to it? Read More »

We Will Not Enforce Order Violates Constitutional Rights

The sheriff’s office of Pennsylvania’s Cumberland County said on Friday that it will not enforce Gov. Tom Wolf’s (D) shutdown orders, vowing to continue to “honor our solemn oath to Support, Obey and Defend the Constitution of the United States and the Constitution of this Commonwealth.” “The Cumberland County Sheriff’s Office will honor our solemn …

We Will Not Enforce Order Violates Constitutional Rights Read More »

‘Horrifically swift’: Canada lost almost two million jobs in April; jobless rate soars to 13%

The Canadian economy lost two million jobs in April, an astonishing figure and, remarkably, one that might  understate the damage caused so far by the coronavirus crisis, economists said.  Statistics Canada on Friday reported the collapse in employment caused the jobless rate to spike to 13 per cent from 7.8 per cent in March, nearly matching …

‘Horrifically swift’: Canada lost almost two million jobs in April; jobless rate soars to 13% Read More »

Greek PM says EU must decide on health protocols for tourism to restart

Greek Prime Minister Kyriakos Mitsotakis said on Monday that the EU needs to decide on health protocols to allow the tourism sector to restart soon, as the countries of the south are struggling to salvage their economies from the Coronavirus crisis aftermath. “Best-case scenario is Greece is open for business July 1, and we’re working …

Greek PM says EU must decide on health protocols for tourism to restart Read More »

Delta Air Lines Donating 200,000 Pounds of Food to Charity

Delta Air Lines has decided to donate 200,000 pounds of its uneaten perishable and nonperishable food as a result of the lack of passengers flying due to the coronavirus pandemic. The Atlanta-based airline said it would be donating the uneaten food that goes on its airplanes and in its Sky Club to charities in Georgia …

Delta Air Lines Donating 200,000 Pounds of Food to Charity Read More »

‘They’ve basically all gone away, haven’t they?’: After Buffett’s LNG exit, industry watchers wonder who’s left to invest in Canada

A day after legendary investor Warren Buffett’s Berkshire Hathaway abandoned an investment in GNL Quebec’s $9-billion Energie Saguenay liquefied natural gas project, frustrated investors and analysts are wondering if there’s anyone left to invest in LNG in Canada — or anything else, for that matter. “They’ve basically all gone away, haven’t they?” said Cameron Gingrich, …

‘They’ve basically all gone away, haven’t they?’: After Buffett’s LNG exit, industry watchers wonder who’s left to invest in Canada Read More »

Stephen Poloz to step down: How Canada’s top banker went from folksy obscurity to steady hand

OTTAWA — Outgoing governor Stephen Poloz once joked that, after being chosen to succeed Mark Carney as head of the Bank of Canada in 2013, he was received much like the guy who replaced Wayne Gretzky. That is to say: nobody actually remembers the guy who replaced The Great One. Poloz was plucked from relative …

Stephen Poloz to step down: How Canada’s top banker went from folksy obscurity to steady hand Read More »