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Canada

Canadian Economy to shrink 8.4% this year: IMF

The International Monetary Fund is estimating the Canadian economy will shrink by 8.4 per cent this year- a 2.2% steeper decline than it forecast in April.Globally, the IMF is predicting a drop of 4.9 per cent in GDP, significantly worse than the three per cent drop it had estimated two months ago.The IMF says the COVID-19 pandemic is disproportionately hurting low-income households and imperilling the significant progress made in reducing extreme poverty in the world since 1990. ...

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Asylum seekers continue to cross Canada-U.S. border despite shutdown

New statistics show 21 people were apprehended by the RCMP crossing into Canada from the U.S. in May, despite the shutdown of the border.That's up from just six who were stopped in April, the first full month the border was close...

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326 new COVID-19 cases and 18 deaths reported in Canada

There are 101,963 confirmed and presumptive cases in Canada. Quebec: 54,884 confirmed (including 5,424 deaths, 23,620 resolved) Ontario: 33,853 confirmed (including 2,619 deaths, 29,107 resolved) Alberta: 7,781 confirmed (includi...

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Champagne pays China mortgages, moves to Canadian banks to avoid 'distraction'

Foreign Affairs Minister Francois-Philippe Champagne says he has repaid two mortgages with a Chinese state bank and refinanced them with a Canadian financial institution.Champagne disclosed the development during testimony today b...

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Feds prepared to push back against any new U.S. tariffs on aluminum, Duclos says

The federal government will make the case to the Trump administration that Canadian aluminum is no threat to the American market, as the mercurial president reportedly prepares to slap on tariffs anew.Treasury Board President Jean...

Aurora Cannabis to lay off staff, close five sites

Aurora Cannabis Inc. is continuing to restructure with more layoffs and facility closures. The Edmonton-based cannabis company says it will reduce its selling, general and administrative workforce by 25 per cent immediately.Another 30 per cent of production staff will be laid off from the company over the next two quarters.Aurora has also decided to cease operations at five facilities over the next two quarters in order to focus production and manufacturing at the company's larger scale and more efficient sites.The affected facilities are Aurora Prairie, Aurora Mountain, Aurora Ridge, Aurora V...

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Eight more weeks of CERB to cost $17.9 billion, budget officer says

The parliamentary budget officer estimates in a new report that it will cost $17.9 billion to provide eight extra weeks of payments through the Canada Emergency Response Benefit. The report this morning from budget officer Yves G...

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Six COVID-19 related deaths reported in Canada

There are 101,637 confirmed and presumptive cases in Canada. Quebec: 54,835 confirmed (including 5,417 deaths, 23,506 resolved) Ontario: 33,637 confirmed (including 2,609 deaths, 28,933 resolved) Alberta: 7,736 confirmed (includi...

Signs people will choose work over CERB in jobs data, Qualtrough says

Canada's employment minister says the country's most recent job figures suggest that low-wage workers will go back to a job if one is available instead of remaining on federal aid.Carla Qualtrough says the growth in jobs from May gives her confidence that workers will choose to work when they get an offer and are able to do so.Statistics Canada's labour force survey for May showed that lower-wage jobs rebounded at a faster rate than the national rate as restrictions meant to slow the spread of the novel coronavirus started to ease.Speaking at the Senate's finance committee today, Qualtrough sa...

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Federal government offers grants for small businesses in fire-stricken Jasper, Alta.

Business owners in the fire-ravaged Rocky Mountain resort town of Jasper are getting some financial help getting back on their feet. The federal government says it will provide close to $4 million in grants and aid to rebuild th...

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