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Category Archives: Economic

'Get us the hell off': Nearly 250 Canadians aboard ship with passengers, crew exhibiting flu-like symptoms

Thirteen passengers and 29 crew members have fallen ill with influenza-like symptoms on board a Holland America Line cruise ship currently off the coast of Chile. And Canadians on the ship — which has been searching for a place to dock since March 14 — are desperate to get home. The ship is carrying 1,829 people: 586 crew and 1,243 passengers, 247 of…

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Stock markets move lower Monday despite U.S. central bank pledge to do 'whatever it takes'

Stock markets opened lower on Monday morning despite the U.S. central bank pledging to do whatever it takes to backstop the American economy against the onslaught of the coronavirus that causes COVID-19. The Dow Jones Industrial Average lost about 500 points, while the Toronto Stock Exchange was off by about 300 in the first half-hour of trading. Both…

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Air Transat lays off 3,600 people, about 70% of its staff

Transat AT Inc. has temporarily laid off about 70 per cent of its workforce in Canada, about 3,600 people. The decision comes as non-essential travel around the world comes to a standstill as governments close borders in an effort to slow the COVID-19 pandemic. Transat said Monday some of these layoffs are effective immediately, while…

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Consumers could face hit to credit scores, jump in payments from mortgage deferrals

Canadians couldn’t get answers on mortgage deferrals at Canada’s biggest bank because information and eligibility requirements kept changing almost by the hour, a source who works for RBC tells CBC News.. When the first details were eventually given out to frontline employees at RBC’s Mississauga call centre, they revealed deferrals would be available to all…

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