October 1st, 2020

Business

Consumer confidence posts solid gain to 101.8 in September

By Martin Crutsinger, The Associated Press on September 29th, 2020

WASHINGTON – U.S. consumer confidence rebounded more quickly in September than most economists had expected, but it remains well below levels that preceded the pandemic. The Conference Board reported Tuesday that its consumer confidence index rose to a reading of 101.8, up from 86.3 in August. The increase came from a more favourable view of ... Read More »

Be the first to comment!

CRTC to keep wholesale internet rates steady while reviewing decision to slash prices

By The Canadian Press on September 29th, 2020

TORONTO – Bell Canada and several cable companies including Rogers Communications will be able to keep their wholesale internet rates as they are while the federal telecommunications regulator reviews its decision to cut them. The companies have been battling the 2019 CRTC decision to slash what network operators can charge independent internet service providers (ISPs). ... Read More »

Be the first to comment!

S&P/TSX composite down in early trading, U.S. stock markets mixed

By The Canadian Press on September 29th, 2020

TORONTO – Canada’s main stock index fell moderately in early trading, weighed down by losses in the financial and energy sectors, while U.S. stock markets were mixed. The S&P/TSX composite index was down 38.47 points at 16,204.34. In New York, the Dow Jones industrial average was down 44.90 points at 27,539.16. The S&P 500 index ... Read More »

Be the first to comment!

PBO: Deficit on track to hit $330 billion with COVID effects lasting years

By The Canadian Press on September 29th, 2020

OTTAWA – The parliamentary budget office says the federal deficit for the year is on track to hit $328.5 billion as a result of COVID-19. That figure released this morning reflects measures announced as of the start of the month, including an estimated $225.9 billion in emergency aid in response to the pandemic. Relative to ... Read More »

Be the first to comment!

S&P CoreLogic Case-Shiller: US home prices rise 3.9% in July

By Paul Wiseman, The Associated Press on September 29th, 2020

WASHINGTON – U.S. home prices rose at a faster pace in July as the housing market continued to show strength in the midst of the coronavirus outbreak. The S&P CoreLogic Case-Shiller 20-city home price index, released Tuesday, rose 3.9% in July from a year earlier, up from a 3.5% annual gain in June. The 20-city ... Read More »

Be the first to comment!

Survey of employers projects more salary freezes ahead, following big jump in 2020

By The Canadian Press on September 29th, 2020

TORONTO – Winter is coming and this year the forecast includes more salary freezes because of COVID-19. Human resources consulting firm Morneau Shepell says 13 per cent of the 889 organizations it monitors say they plan to freeze salaries in 2021. That’s far more than last year’s pre-COVID survey, which incorrectly predicted only two per ... Read More »

Be the first to comment!

Recovery plan inspires confidence but Canadians like working from home for now: Poll

By Joan Bryden, The Canadian Press on September 29th, 2020

OTTAWA, Ill. – The federal government’s economic recovery plan has inspired some confidence that it will create jobs and a stronger economy in future, a new poll suggests. But, in the meantime, the vast majority of Canadians who’ve been working from home aren’t eager to rush back to their work places as cases of COVID-19 ... Read More »

Be the first to comment!

Hiring marginalized workers could jump-start economy, boost incomes by $5K: Deloitte

By Anita Balakrishnan, The Canadian Press on September 29th, 2020

TORONTO – Canada’s economy was headed for slowing growth in the next decade even if COVID-19 had never hit, according to a new report by Deloitte Canada. The report, which looks at more than 1,000 variables to predict how Canada’s economy will look in 2030, suggests that the country will need more workers – with ... Read More »

Be the first to comment!

United Airlines pilots approve deal that delays furloughs

By David Koenig, The Associated Press on September 28th, 2020

Pilots at United Airlines voted to approve an agreement that will avoid about 2,850 furloughs that were set to take effect later this week and another 1,000 early next year. Airline officials said Monday that the agreement will reduce involuntary job cuts to fewer than 12,000 if Congress fails to provide more aid to airlines ... Read More »

Be the first to comment!

COVID-related delays increase costs of Nalcor Energy’s Muskrat Falls project

By The Canadian Press on September 28th, 2020

ST. JOHN’S, N.L. – Delays related to software problems and to the COVID-19 pandemic are pushing up the cost of the Muskrat Falls hydroelectric project by hundreds of millions of dollars. Province-owned Nalcor Energy said today in a news release the project needs another $75 million in capital due to pandemic-related days. Nalcor adds that ... Read More »

Be the first to comment!