Amid medical-supplies scramble, pandemic highlights new perils to free trade

Amid medical-supplies scramble, pandemic highlights new perils to free trade
WASHINGTON — “America First” rhetoric and disdain for free trade are old news in the Donald Trump era, but with countries in a life-or-death scramble to stockpile gowns, gloves, masks and ventilators, protectionism these days isn’t such a dirty word. Even an ardent free trader like Prime Minister Justin Trudeau let slip an interesting — and vaguely isolationist — turn of phrase Tuesday as he laid out Canada’s... Read More

Suddenly strapped for cash: Financial advisers on dealing with COVID-19 fallout

Suddenly strapped for cash: Financial advisers on dealing with COVID-19 fallout
TORONTO — Credit counsellor Pamela George is hearing from Canadians who feel lost amid the financial strife of COVID-19. After the Ottawa-based adviser began offering free phone consultations last month, the stories began to flow in. Some told her they hadn’t established emergency funds for the unexpected, and now they’re worried simple necessities could sap their regular savings accounts. “I’m seeing so much... Read More

Liberals delay release of wage subsidy details

Liberals delay release of wage subsidy details
OTTAWA — Canadian businesses desperate for details about the federal government’s promised wage subsidy program will have to wait a little longer for answers. On Monday, Prime Minister Justin Trudeau said his finance minister would lay out the details of the program during a briefing on Tuesday. That never happened and now Finance Minister Bill Morneau says he and Small Business Minister... Read More

World hungry for Canadian grain amid pandemic, with shipments abroad rising

World hungry for Canadian grain amid pandemic, with shipments abroad rising
Canadian grain is in high demand as shippers try to feed a growing appetite from mills and governments seeking to shore up staple reserves amid the COVID-19 pandemic. The Chamber of Marine Commerce says grain shipments at the Port of Thunder Bay in Ontario doubled year over year in March, with vessels loading 200,000 tonnes last week and higher volumes... Read More

Wall Street’s rally rolls on, led by health care stocks

Wall Street’s rally rolls on, led by health care stocks
NEW YORK — U.S. stocks climbed Monday, led by big gains for health care companies announcing developments that could aid in the coronavirus outbreak. The rally tacked more gains onto a recent upswing for the market, which is coming off the best week for the S&P 500 in 11 years. Nascent optimism is budding that the worst of the selling... Read More

Major residential landlords signal flexibility for tenants in need during outbreak

Major residential landlords signal flexibility for tenants in need during outbreak
TORONTO — Some of Canada’s biggest landlords say they’re committed to working with tenants who have lost their job because of the coronavirus pandemic. The signals come as efforts to contain the outbreak have led to huge business disruptions and surging unemployment levels that have made many Canadians worried about how they will pay next month’s rent. The unprecedented times have led some tenants to... Read More

Freshii delays financial results, cuts head office staff to reduce costs

Freshii delays financial results, cuts head office staff to reduce costs
TORONTO — Freshii Inc. is delaying the filing of its latest financial results as it deals with the COVID-19 pandemic and its impact on its restaurants and franchise partners. The company says it has also temporarily “streamlined its head office workforce” in a move to cut costs. It did not say how many people were affected. Freshii says the COVID-19... Read More

Large business, non-profits, charities eligible for wage subsidy, Trudeau says

Large business, non-profits, charities eligible for wage subsidy, Trudeau says
OTTAWA — Prime Minister Justin Trudeau says large and small businesses, non-profits and charities will all be eligible for a 75-per-cent subsidy on wages meant to cushion the blow from the COVID-19 pandemic. Employers will have to show that their revenues have fallen by at least 30 per cent due to COVID-19. The wages the subsidy covers will be capped... Read More

Time to ‘revenge shop’: China’s virus hot spot reopens

Time to ‘revenge shop’: China’s virus hot spot reopens
WUHAN, China — The city at the centre of China’s virus outbreak was reopening for business Monday after authorities lifted more of the controls that locked downs tens of millions of people for two months. “I want to revenge shop,” one excited customer declared as she traversed one of Wuhan’s major shopping streets, Customers were still scarce, though, as those... Read More

Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week
TORONTO — Five things to watch for in the Canadian business world in the coming week: COVID-19 and the new normal Thousands of people have already lost their jobs as non-essential businesses have shut down, while others like grocers look for ways to keep their doors open and meet the demand from shoppers stocking up. Businesses will be watching for... Read More