Canadian small business owners listened closely to Prime Minister Justin Trudeau and Finance Minister Bill Morneau on Friday as they announced the federal government’s plans to help small businesses survive the financial crisis of COVID-19. Many were encouraged by the new 75 per cent wage subsidy. Others were disappointed to hear that a big portion of the…

Perhaps it’s crossed your mind when you picked up a food order, grabbed a beverage at the drive-thru or ordered a pizza: How significant is the risk of COVID-19 when handling pickup and delivery items? While the chances of transmission via food courier are quite low, experts say taking a number of precautionary steps can…

The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. This unscheduled rate decision brings the policy rate to its effective lower bound and is intended to provide support to the Canadian…

Parliament’s budget watchdog predicts the Canadian economy could contract by a staggering 25 per cent in the second quarter of this year, while the annual budget deficit could top $112.7 billion by the fiscal year’s end.  That prediction is part of the Parliamentary Budget Officer’s most recent report, which looks at the economic impacts of the global…

Four passengers have died on board a Holland America Line cruise ship currently sailing off the coast of Panama. Many other passengers on the ship, the Zaandam, have flu-like symptoms and two have tested positive for COVID-19.  A total of 247 Canadians are among the 1,243 passengers on the Zaandam, which is also carrying 586 crew members.…

The Bank of Canada has made a second unscheduled cut to its benchmark interest rate, lowering it to 0.25 per cent amid the COVID-19 crisis. The central bank made the announcement in a press release on Friday morning. The overnight lending rate is what the bank charges for short-term loans between retail banks, but it impacts the rates that…