August another good month for manufacturers: purchasing managers
Canadian PMI shows sharpest improvement in business conditions since August 2018.
US not joining global effort to find COVID-19 vaccine
Trump doesn’t ant to be “constrained” by multilateral groups, claims the WHO is heavily influenced by China.
COVID-19 turns BC’s 2019-20 budget surplus to $321M deficit
Declines in tax revenues, losses at the Insurance Corporation of British Columbia and early measures to tackle the pandemic.
Fitch Ratings issues new warning over federal spending, debt
Downgraded Canada’s triple-A credit rating in June to AA+ over the deterioration of public finances due to COVID-19.
US economy plunged an annualized 31.7% in Q2
Previous worst quarterly drop since record-keeping began in 1947 was a 10% annualized loss in 1958.
Alberta to outline $20B plus deficit in fiscal reckoning
Debt expected to rise to almost $77 billion by next spring and to almost $88 billion by 2023.
Small business outlook points to sluggish recovery
Proportion of businesses in bad shape has dropped and is now on par with those who say they are in good shape.
Bank of Canada reviews effect on wealth, income distribution: Wilkens
Also testing other frameworks related to monetary policy to see how they fare in good economic times and bad.
Federal finances remain vulnerable to fluctuating interest rates
An increase could lead the government into a downward cycle of increased deficits, and that means higher taxes.
China, US discuss economic co-ordination in trade meeting
Part of the Phase 1 truce aimed at ending a tariff war between the two biggest global economies.
Canadians cheer, US denounces WTO decision on softwood lumber
Department of Commerce and International Trade Commission declared wrong in 2017 when they imposed countervailing duties.
As Freeland takes finance job, crisis will dictate spending plans: experts
Talks about going green, equitable and inclusive growth; suggests the Liberals plan to double down on their existing approach.
Inflation rate falls to 0.1% as price growth slows: Statistics Canada
Reading was down from a year-over-year increase of 0.7% in June, average economist estimate had been 0.5% for July.
Cabinet glass ceiling shattered as Freeland named finance minister
Solid reputation both inside and outside of cabinet, first in international trade, then foreign affairs.
China considers imposing tariffs on Australian wine
Focuses on wine in containers 2 litres or smaller, which accounts for most Australian exports.
Morneau leaves cabinet, federal politics, as suddenly as he arrived
First rookie MP in nearly a century to step into the high-profile and demanding role of finance minister.
Morneau resigns finance post and seat, plans to run for head of OECD
Exit comes amid WE charity controversy and investigation by the federal ethics watchdog.
Quebec, Ontario ask Ottawa to intervene in Montreal port strike
They say shutdown in week two will harm Eastern Canada’s economy and erode the competitiveness of the port.
Bombardier the poster child of pork barrel cronyism
Instead of picking winners and losers, governments should step back and let markets work.
Ontario budget deficit projected to jump to $38.5B in 2020-2021
Province spent billions to support the health-care sector and help businesses and residents weather the storm.
Manitoba pushes economic rebound as COVID-19 cluster grows
There were 16 new cases reported in the province Aug. 12, for a total of 587 infections.
Virus surge makes U.S. weak link in global economic recovery
The American economy shrank at an annual pace of 32.9% from April through June
58% of Americans oppose Trump tariff on Canadian aluminum: survey
Polling firm Leger says numbers reflect a lack of a clear rationale for the action by the mercurial US president.
Bank of England says economy will take time to heal
U.K. GDP probably shrank by 23% in the second quarter
U.S. economy shrank at record breaking 33% rate last quarter
State and local government spending, bruised by a loss of tax revenue that forced layoffs, also fell at an annual rate of 5.6%.
Boosting marginalized groups key to ‘feminist economic recovery,’ report says
In the midst of the pandemic, the employment rate declined twice as much for Canadian women in the 25 to 54 age range compared with men
Trade, technology and security at risk in US China feud
Sharp deterioration in US-China ties poses risks to both countries and the rest of the world.
BDC records $218M net loss for 2020 fiscal, remains confident
Higher net fair value depreciation on capital investments due to uncertainty and volatility.
China tells US to close consulate in Chengdu in growing spat
Retaliation for US order to close China’s Houston consulate after accusation Chinese agents tried to steal IP.
Liberals review rollout of social finance fund to combat pandemic fallout
Idea is investors front the money for projects to address social problems, the government rewards those investments if projects work.
China says it’s not trying to replace US, won’t be bullied
Response to AG Barr who cautioned American business leaders against promoting policies favourable to Beijing.
CERB a top reason workers refuse to return to work: CFIB
Emergency benefit appears to be impeding small companies from staffing up as they reopen their businesses.