The Canadian economy’s resilience could be “seriously tested” by a coronavirus outbreak, depending on its severity and duration, Bank of Canada Governor Stephen Poloz said on Thursday. Poloz spoke a day after the central bank slashed a key interest rate by half a percentage point and said it was prepared to cut further if needed…
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The OPEC oil cartel is calling for a deep production cut to keep crude prices from falling further as disruption to global business from the coronavirus slashes demand from air travel and industry. Oil ministers from the 14 OPEC countries decided at a meeting Thursday to push for a cut of 1.5 million barrels a…
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North American stock markets continued their roller coaster ride on Thursday as fears over the spread of the coronavirus continued to roil portfolios. The S&P/TSX composite index was down 193.26 points or a little over one per cent at 16,586.27. In New York, the Dow Jones industrial average was down 665.76 points at 26,425.10. The S&P…
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The world’s biggest seller of coffee is temporarily forbidding customers from bringing their own reusable mugs because of fears that they could help spread the coronavirus. Starbucks said in a release on Wednesday that it is instituting a number of new policies to handle the virus that has so far infected almost 100,000 people around the…
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Two major Canadian travel insurance providers — Manulife and TuGo — will no longer cover new customers who need to cancel their trips due to the coronavirus outbreak. Travellers with regular trip cancellation insurance typically have been able to get reimbursed if, after booking their trip, Ottawa issued a coronavirus-related advisory to avoid non-essential travel to their destination. However, customers with Manulife or…
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In the world of finance there are few things people like more than low interest rates. As anyone who owes money on a mortgage or has borrowed to buy something they couldn’t otherwise afford knows, paying a half percent less in annual interest can make a big difference to your bottom line. Especially when rates are…
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