finances
SaskPower is taking a revenue hit from COVID-19
Crown utility says sales were down by 10% from April to June, too soon to rule out increases.
Eight more weeks of CERB to cost $17.9 billion, budget officer says
CERB, now budgeted at $60 billion, has paid out $52.14 billion to over eight million people as of June 21.
Federal deficit likely reached $260B due to COVID-19: PBO
Finances could be helped by an economic recovery that would help lessen the red ink.
Ontario introduces $17B COVID-19 package; more than doubles deficit
Spending boost includes a $1-billion COVID-19 contingency fund for hospitals, and more personal protective equipment for front-line workers.
Quebec billionaire Lawrence Stroll acquires stake in Aston Martin
Under an agreement announced Jan. 31, the group led by Stroll will inject $316 million to acquire a 16.7% stake in the automaker
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Liberals’ fiscal update shows billions more in deficits but steady economy
Finance Department said the deeper deficit is largely driven by changes to how employee pensions and benefits are calculated.
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Morneau set to hear from provinces pushing for more financial help [UPDATED]
Five provinces will receive payments in the fiscal year that starts in April.
Canada’s top 1% saw fastest income acceleration, overall decrease in taxes
In 2017, those in the top 1% saw average income growth that year of 8.5% to $477,700.
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Higher oil prices, more tax income: Alberta ends 2018-19 with smaller deficit
Resource revenue was up $1.6 billion from what was expected.
Bombardier cuts outlook, full year revenue guidance down by US$1B [UPDATED]
Full first-quarter financial results released on May 2.
Federal budget expected to have more wiggle room, even with weaker outlook
Economy posted solid numbers for much of last year and employment has remained particularly strong.
Canada’s Big 5 bank CEOs pay rises 6.5% to earn $54M in 2018
A double-digit overall pay bump may make some bat an eye, but increase in compensation is reflection of complexities in financial sector CEOs face, expert says.
Bank of Canada’s interest rate decision helps utilities and telecom sectors
The BoC decided not to increase interest rates.
Tesla to pay off US$920M in bonds with company cash
Tesla had about $11 billion in debt at the end of 2018.
