Automotive sector helps Canadian retail sales surge 18.7% in May: StatsCan
Sales were buoyed by government income-support programs and consumers satisfying pent-up demand – both of which could fade in the second half of the year,
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Canada & World
Canadian and international business news relevant to local business leaders here in Ottawa. Includes stories related to inflation, interest rates, employment, major government announcements and more.
Five Canadian business stories to watch this week
A preview of some of the national business news that will be making headlines in the days ahead.
Liberals revise COVID-19 wage subsidy, ease eligibility in bid to boost takeup
Amounts paid out will be proportional to revenue declines due to the COVID-19 pandemic.
Gyms, theatres among those cleared to reopen as Ottawa, much of Ontario, enters next reopening stage
Ford says the next phase of economic recovery suggests the province is turning a corner after feeling the ravages of the global pandemic.
BDC to give $160M to IP-rich companies struggling to access capital
Fund will target scaling companies in knowledge-based industries with rich IP portfolios including patents, design and trade secrets and at least $1M in annual revenue.
Bank of Canada holds rate, forecasts decline in GDP of 7.8% this year
Outlook is less rosy than those the Trudeau Liberals relied on in their economic update released a week ago.
Canada, U.S. expected to extend mutual travel ban into late August
Canada-U.S. border has been closed to “discretionary” travel like vacations and shopping trips since the pandemic took hold of the continent in mid-March.
Federal wage subsidy to be extended to December
Prime minister isn’t saying today how the government will reshape the eligibility rules for the program
Five Canadian business stories to watch this week
A preview of some of the national business news that will be making headlines in the days ahead.
DavidsTea closing 82 stores in Canada, all 42 U.S. stores
Closure of “a significant number of money-losing stores” will allow firm to focus on e-commerce sales.
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