Trudeau promises $82B in economic supports in COVID-19 fight

Trudeau promises $82B in economic supports in COVID-19 fight
OTTAWA — Prime Minister Justin Trudeau says the federal government will spend up to $82 billion to help every Canadian get through the COVID-19 pandemic. “Public health should never hinge on financial considerations,” Trudeau said. The unprecedented financial aid package will beef up Canada Child Benefit payments for families, provide a wage subsidy for small businesses to help them keep... Read More

Canadian banks move to help customers, allow deferral of mortgage payments

Canadian banks move to help customers, allow deferral of mortgage payments
TORONTO — Canada’s big banks are trying to give Canadians more financial breathing room with a slew of measures aimed at helping customers hurt by an outbreak of a novel coronavirus. The Big Six banks — Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, Bank of Nova Scotia and TD Bank Group —have banded together to provide... Read More

Morneau to unveil $20 billion or more to cushion financial shock of COVID-19

Morneau to unveil $20 billion or more to cushion financial shock of COVID-19
OTTAWA — Finance Minister Bill Morneau is poised to announce billions in federal aid to help cushion the financial shock of the COVID-19 outbreak on Canadians. The sweeping economic package is expected to be worth $20 billion or more. It is expected to include measures to get direct payments to Canadians so that they can afford to follow the advice of health professionals to... Read More

Saskatchewan to unveil spending plan for next fiscal year in muted budget

Saskatchewan to unveil spending plan for next fiscal year in muted budget
REGINA — The Saskatchewan government is set to take the unusual step of announcing its spending plans for the next fiscal year without showing any revenue. Premier Scott Moe says the economic uncertainty created by the spread of COVID-19 means it’s too difficult to predict how much money will come in. The government says revenue forecasts that were initially in its 2020-21 budget... Read More

Pembina Pipeline cuts capital spending plan by up to $1.1 billion

Pembina Pipeline cuts capital spending plan by up to $1.1 billion
CALGARY — Pembina Pipeline Corp. is cutting its capital spending plan for this year by up to $1.1 billion due to the COVID-19 pandemic and the plunge in oil prices. The company now expects its revised 2020 capital budget to between $1.2 billion and $1.4 billion. The compared with an earlier plan to spend $2.3 billion. Pembina says it’s deferring the Phase... Read More

Transat AT moves to start suspending Air Transat flights as border closes

Transat AT moves to start suspending Air Transat flights as border closes
MONTREAL — Transat AT Inc. says it will start the gradual suspension of Air Transat flights until April 30 as the Canadian government moves to close the border in an effort to stem the spread of COVID-19. The company says sales for departures until April 30 are suspended immediately from and to most destinations in Europe and the United States.... Read More

North American stocks fall at the open, loonie dives below 70 cents US

North American stocks fall at the open, loonie dives below 70 cents US
TORONTO — Canada’s main stock index took another hit in early trading today, while the loonie dropped below the 70 cents US mark as COVID-19 fears continued to dominate markets. The S&P/TSX composite index was down 516.86 points at 12,168.35. In New York, the Dow Jones industrial average was down 1,255.92 points at 19,981.46. The S&P 500 index was down... Read More