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COVID-19 may be the catalyst — not the cause — of a painful but useful economic transformation: Don Pittis

CBC Business News - 8 hours 39 min ago

From a growing property market crunch to retailer bankruptcies to the collapse of oil, experts say COVID-19 may be a trigger for needed economic change.

400 people to be laid off at Boeing in Winnipeg in coming weeks

CBC Business News - Sun, 05/24/2020 - 08:29

Employees at the company were told about the cuts on Friday, the spokesperson said in a statement emailed to CBC News.

COVID-19 may delay plastics ban, airline customers struggle over refunds: CBC's Marketplace cheat sheet

CBC Business News - Sun, 05/24/2020 - 06:00

CBC's Marketplace rounds up the consumer and health news you need from the week.

'I don't know how I'm gonna go back to the office': COVID-19 forces women to rethink careers

CBC Business News - Sun, 05/24/2020 - 01:00

As the slow process of reopening non-essential businesses begins across Canada, female professionals and entrepreneurs are struggling with work-life balance.

Businesses adjusting to COVID-19 pandemic | Business Panel

CBC Business News - Sat, 05/23/2020 - 09:21

Our weekend business panel discusses how retailers are struggling to adapt under the global pandemic. Plus, a look at the details of a bridge financing program for large companies unveiled by the federal government this week.

Ontario's auto sector returns to work under a COVID-19 cloud of doubt

CBC Business News - Sat, 05/23/2020 - 01:00

Thousands of Ontario auto workers are returning to work this month, resuming their places in the supply chain as the North American industry’s ecosystem slowly wakes from its COVID-19 coma.

Wondering when Canadians can start travelling again? Here's what you need to know

CBC Business News - Sat, 05/23/2020 - 01:00

Now that provinces have eased COVID-19 restrictions, some people may contemplate travelling abroad. Here’s what you need to know about leaving Canada while COVID-19 still lingers in our lives.

Shops are reopening after COVID-19, and some are adding a new line to your bill to pay for it

CBC Business News - Sat, 05/23/2020 - 01:00

As businesses take their first cautious steps toward reopening, Canadians should brace themselves for the possibility of seeing a new fee tacked on to their bill: a COVID-19 surcharge.

Hertz files for U.S. bankruptcy protection as car rentals evaporate in pandemic

CBC Business News - Fri, 05/22/2020 - 19:48

The more-than-a-century-old car rental firm Hertz Global Holdings Inc. filed for bankruptcy protection on Friday after its business all but vanished during the coronavirus pandemic and talks with creditors failed to result in needed relief.

Biden blasts Keystone XL, calling it 'tarsands we don't need'

CBC Business News - Fri, 05/22/2020 - 07:10

The presumptive Democratic nominee made clear in an interview that he wants the pipeline stopped.

COVID-19 pushed Canadian retail sales to their biggest ever plunge in March

CBC Business News - Fri, 05/22/2020 - 07:05

Widespread lockdowns due to COVID-19 across the country pushed Canadian retail sales down by 10 per cent in March, the biggest plunge on record.

Alberta urged to help high-tech industry 'at risk' from economic crisis

CBC Business News - Fri, 05/22/2020 - 03:00

Technology and innovation companies are looking to the UCP government to provide the incentives needed to attract capital investment to a budding sector.

Credit card chargebacks a challenge for some airline customers

CBC Business News - Fri, 05/22/2020 - 01:00

Marketplace has heard from many people who were unsatisfied with credit for future travel after their flights were cancelled, and some have sought refunds through a chargeback from their credit card company but have met with resistance.

Will COVID-19 lead to an exodus from crowded offices in downtown towers? Don't count on it, experts say

CBC Business News - Fri, 05/22/2020 - 01:00

The COVID-19 pandemic is forcing many commercial tenants in downtown towers to reconsider their physical environment, from the amount of office space required if employees will work from home more often to issues presented by public transit and where they're located in a metropolitan area.

COVID-19 economic crisis could spike mortgage deferrals to 20%, CMHC boss warns

CBC Business News - Thu, 05/21/2020 - 13:01

Almost 20 per cent of Canadians who have CMHC insured mortgages could be forced to defer payments by September because of the economic crisis sparked by COVID-19, the head of the federal agency says.

WestJet seeks exemption to section of Canada Labour Code covering group terminations

CBC Business News - Thu, 05/21/2020 - 12:13

WestJet is asking for an exemption to the section of the Canada Labour Code covering group terminations, designed to protect employees and prevent a flood of workers entering the labour market all at once.

Alberta Energy Regulator suspends environmental monitoring for oilpatch over COVID-19

CBC Business News - Thu, 05/21/2020 - 11:58

A wide array of environmental monitoring requirements have been suspended for Alberta's entire energy industry. According to decisions posted on its website, the Alberta Energy Regulator said suspensions include all conventional oil and gas operators as well as in situ oilsands projects.

Shopify permanently moves to work-from-home model

CBC Business News - Thu, 05/21/2020 - 09:22

One of Canada's top companies will have staff work from home as much as possible — even after the COVID-19 pandemic ends.

Canada Goose to cut staff, Victoria's Secret shutters some Canadian stores

CBC Business News - Thu, 05/21/2020 - 09:08

Retailers with Canadian operations are laying off employees and closing stores as they grapple with COVID-19. Canada Goose Holdings Inc. is cutting 125 of its staff, or two per cent of its 5,000-person workforce, while Victoria's Secret is closing some of its Canadian and U.S. locations.

Canada Post reports $153M loss in 2019 amid rising parcel competition

CBC Business News - Thu, 05/21/2020 - 08:52

Canada Post lost $153 million before taxes last year as intense e-commerce competition slowed growth of its parcel business and an ongoing shift toward online communication prompted mail operation declines.

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