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Economic Trends during COVID-19

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5 Ways to Build Trust and Reliability

Any entrepreneur knows that a critical aspect of growing one's business and elevating your brand is to step up as a thought leader in your field. For instance, we've all marveled at the CEO who shares words of wisdom on LinkedIn or the icon names behind our favorite newsletters and podcasts.

Video: Prejudice Rises in 'Scapegoat Economics' During Pandemic: Paul Donovan

Paul Donovan. chief economist at UBS Global Wealth Management and author of "Profit and Prejudice: The Luddites of the Fourth Industrial Revolution", speaks with Bloomberg's Caroline Hyde and Romaine Bostick on "What'd You Miss?" about the unequal recovery in the economy.

Video:2021 Seen as the `Bounce Back' for Inflation

January is shaping up to be a pivotal month in determining whether the nascent U.S. reflation trade can really gather steam in 2021.

How 139 currencies performed against the Canadian dollar in 2020

The Canadian dollar enjoyed a rather upbeat 2020, considering the economic collapse in the spring. Most currencies (97 out of 139) weakened against the loonie last year, highlighted by a 1.8-per-cent decline for the U.S. dollar.

The pandemic and retirement: what happens to your pension in a recession?

Pension funds are already picking up after their slump in 2020 when Covid-19 hit – but inevitably the outlook remains uncertain. Try not to panic, say experts, because retirement savings are long-term investments

The Financial Panic of 2020

We have all heard the phrase “history repeats itself!” Yet, very few people seriously apply long-term history to manage their investments.

Year in review: The pandemic plus lockdown added up to deep recessions

Loose policy staved off financial panic, but the effects will be felt for years.

A bullish 2021? Investors shouldn’t ignore the case for caution

Market participants should welcome a brightening outlook for the year ahead, but they shouldn’t assume that the current party mood will continue through 2021. Wise investors may want to put some coffee on. It’s time to sober up.

That brief market plunge in March has served up a wealth of 2020 hindsight

Looking back on a year of endless, overwhelming disruption to daily life, the 2020 global stock market crash stands out for its incredible efficiency.

Video: Covid-19 Fuels Innovative Solutions

To tackle Covid-19, companies around the world have adapted innovative solutions to meet the pandemic's “new normal." Here are some highlights

Podcast: The year that was—“Money Talks” 2020

Host Henry Tricks leads an international band of “Money Talks” regulars on a whistlestop tour through a year like no other. The team choose their stories of the year, face baffling clues to mystery items, and share their predictions—and their hopes–for 2021.

This past year taught us important lessons on risk tolerance

Disasters reveal risk tolerances. The COVID-19 pandemic highlights the cautious nature of most Canadians as we try to stay at home as 2020 comes to a close. But some people are wired differently.

Market Edges Toward Euphoria, Despite Pandemic’s Toll

Already notable for its mostly unstoppable rise this year — despite a pandemic that has killed more than 300,000 people, put millions out of work and shuttered businesses around the country — the market is now tipping into outright euphoria.

The economy is set to charge ahead in 2021, but not before more pain

The Canadian economy is poised for strong growth in 2021 as COVID-19 vaccinations reach a critical mass of people, and restrictions are gradually lifted – the start of a return to normal after a destructive year for workers and businesses.

Video: NFIB Says Pandemic Relief to Help Businesses Through Winter

National Federation of Independent Businesses President Brad Close discusses what the $900 billion pandemic aid plan means to small businesses and the prospect of further stimulus. He speaks on "Bloomberg Markets."

Video: Online Retailers Try Alcohol Delivery

Online retailers are looking to cash in on higher demand for alcohol deliveries

Canadian banks are finally reaping the benefits of hefty digital investments

The pandemic has been the primary driver of rising digital banking usage this year—and it will spur further spending on Canadian banks' digital platforms in the near term.

A (markets) journal of the plague year

Last December the first infection with the new coronavirus was reported to the World Health Organization. Twelve months later, global financial markets have been on a roller coaster like no other.

The Stimulus Deal: What’s in It for You

Lawmakers agreed to issue stimulus payments of $600 and distribute a federal unemployment benefit of $300 for 11 weeks. But that money will take time to start arriving.

Plenty of room at empty Bethlehem inns ahead of Covid-hit Christmas

Normally the city’s busiest time of year, Christmas in Bethlehem is set to be a sober affair with no international tourists

Reopening rally? Speculative bubble? These days, it's hard to tell

Surging U.S. stocks are stretching equity valuations near their highest levels in years, leaving investors to determine whether the rally signals a coming economic rebound or an asset price bubble in the midst of a global pandemic.

5 Trends the Pandemic Accelerated

2020 hasn't spurred as many brand new trends because many of us are focused on surviving both the economic and health challenges around the pandemic. Let's look at which trends the pandemic has accelerated and what some of the longer-term impacts could be.

Video: Inside A Covid-Safe Factory of the Future

South Korea’s CJ Foods has revamped its factories for the coronavirus age, providing a glimpse of what the future of manufacturing might look like.

Video: Morgan Stanley’s Wilson Says Don’t Fight New Market Trends

Mike Wilson, chief U.S. equity strategist at Morgan Stanley, discusses market momentum and why investors should get behind the new market trend.

U.S. Fed Leaves Rates Unchanged and Commits to Ongoing Bond Purchases

U.S. Federal Reserve officials pledged to help the economy through the painful pandemic era. The central bank will continue cushioning businesses and households by keeping interest rates at rock-bottom and buying government-backed debt for the foreseeable future.

The Biggest Stock Surprises of 2020

The pandemic brought out volatility in the market like any black swan event would, but the uncertain duration of COVID-19 kept the market guessing and overreacting for most of 2020. It's worth looking at some of the stock surprises of the past year, why they happened, and what likely lies ahead for them in the new year.

The pandemic could give way to an era of rapid productivity growth

Businesses have adopted new processes and technologies—and there are signs that they may pay off

The ‘K-shaped’ recovery won’t be kind to Canada’s older workers

As we survey the damage from the COVID-wrecked economy, we may find that the employment prospects for older workers are getting thin just as the supply of mature job-seekers starts to climb.

Video: How the Pandemic Made Your Boss Big Brother

Employee surveillance software has done booming business as many people continue to work from home. They call it "Bossware," and it may be here to stay.

The world desperately needs more nurses

Rich countries rely on poorer ones for their nurses. That risks making shortages worse.

Canada-U.S. border to remain closed until at least Jan. 21

Canada has shown little interest in lifting the restrictions as the virus runs rampant across the United States.

Infographic: The Stunning Pace Of Progress: One Year In, Covid-19 Treatments And Vaccines Are Close At Hand

Since bursting onto the scene over a year ago, the COVID-19 pandemic has so far claimed well over one million lives. The ferocious spread of the virus first witnessed in the spring is now being dwarfed by an even larger surge. Yet despite this grim reality, hope has emerged.

A typical family’s food bill will jump by almost $700 next year — the biggest leap in more than a decade

It’s only going to get worse for Canadians who are already feeling stretched at the grocery store, with food prices set to rise in 2021 due in no small part to COVID-19.

4 Key Trends for Retail Entrepreneurs in 2021

New consumer behaviors provide opportunities for growth through the holidays and into 2021, including decreasing physical space and increasing product assortment as well as achieving faster consumer insights.

The pandemic could give way to an era of rapid productivity growth

Businesses have adopted new processes and technologies—and there are signs that they may pay off

How has a Covid vaccine been developed so quickly?

Analysis: Funding and high public interest contributed to slashing of research and approval time

Is it 'hoarding' or good planning? Canada leads world in procuring COVID vaccine

Canada has pre-ordered far more COVID-19 vaccine per capita, and from more potential suppliers, than any other country, figures from North Carolina’s Duke University suggest.

Video: The Future of Working From Home After Covid Has Gone

What will happen to the office? Will we see workers coming in only when they have to? And if so, what does that mean to the multibillion-dollar commercial real estate industry?

Coronavirus Pandemic: The Best and Worst Places to Be

Bloomberg News crunched the numbers to determine the best places to be in the coronavirus era. Here are the top performers of Bloomberg’s Covid resilience ranking based on 10 criteria.

Working from home due to COVID-19? You likely qualify for a brand new tax deduction of up to $400

One of the many announcements in Monday’s fiscal update was a work-from-home personal tax deduction of up to $400 for employees who have incurred “modest expenses” in 2020 due to remote working.

Scotiabank, BMO 'cautiously optimistic' about COVID rebound after reporting profits

Canadian bank executives say an economic rebound is on its way after months of governments and financial institutions working to offset turmoil with loans, deferrals, interest rate cuts and subsidies.

It's Father Clickmas: can Santa save Christmas over Zoom?

It’s 130 years since Father Christmas first appeared in a department store. But this year is the strangest one yet – with virtual calls taking the place of shopping centre visits. Is it enough to keep the ho ho hos flowing?

The Atypical Recession: Here’s what forecasters got wrong about the COVID-19 economy

In a typical recession, there is a tried-and-true playbook. Incomes go down. Bankruptcies go up. Consumers pull back on major purchases, etc. Not this time.

The Atypical Recession: Here’s what forecasters got wrong about the COVID-19 economy

In a typical recession, there is a tried-and-true playbook. Incomes go down. Bankruptcies go up. Consumers pull back on major purchases, etc. Not this time.

4 Future Trends That Represent Massive Opportunity

Trends like 5G, cloud storage, autonomous vehicles and ghost kitchens are a natural evolution in our habits as consumers and sellers.

Video: Vaccines Can Ease Covid Restrictions by Next Summer: Johns Hopkins

Johns Hopkins Assistant Professor of Emergency Medicine Lauren Sauer discusses how vaccines can help to ease coronavirus restrictions and the biggest concerns about the spread of Covid-19 during the holidays.

Video: How Covid-19 Is Changing Consumer Spending Habits

CardFlight founder and Chief Executive Officer Derek Webster discusses the company’s latest report on consumers’ spending habits amid the coronavirus pandemic. He speaks on "Bloomberg Markets."

‘Buy Nothing’ and zero waste groups offer more than just free stuff during COVID-19 pandemic

Thousands of Canadians have joined giving communities on social media in recent years. The groups, which mostly exist on Facebook, range from neighbourhood chapters of the Buy Nothing Project to less organized, city and regional “free stuff” pages.

No money down: New financing companies are transforming online shopping by offering pay-later options for small purchases

At a time of economic uncertainty brought on by COVID-19, flexible payment plans may be more attractive to consumers. At the same time, consumer advocates fear these plans are egging on shoppers to buy things they can’t afford.

Approximately 1 Million Packets of Clorox Disinfectant Wipes Are Being Used Per Day

The cleaning-products company saw a significant increase in all its products, especially disinfectant wipes, due to the pandemic.

Video: Carmen, Vincent Reinhart: Economy in a Pandemic Depression

Carmen Reinhart, World Bank chief economist, and Vincent Reinhart, Standish Mellon Asset Management chief economist, discuss the lasting consequences of economic shocks like the Covid-19 pandemic.

The revenge of the low-skilled worker

Given the realities of the digital economy, there is no excuse for treating low-qualification jobs as synonymous with low-quality jobs. Acknowledging this will be crucial for re-establishing these workers’ negotiating power and forging a new social contract.

'Less is more:' Restaurants pandemic-proofing menus to survive the second wave

In a bid to survive the second wave, eateries are pandemic-proofing their menus by offering customers top sellers while deleting the less popular items for now.

Pandemic underscores importance of financial intelligence, federal centre says

The federal anti-money laundering agency says it gave more than 2,000 intelligence leads to partners in the last fiscal year despite the havoc the COVID-19 pandemic created for the business world.

Video: New Economic Forum: Transforming Cities Post Pandemic

Lord Mayor of Dublin Hazel Chu, Foster + Partners founder Lord Norman Foster, Harvard Professor of Economics Edward Glaeser and Vanke Chairman Yu Liang discuss how global centers can use this moment to transform their urban environments.

How Starbucks Makes Money

Like many restaurants and retailers, Starbucks has been severely affected by the impacts of the COVID-19 pandemic this year. The coffee chain posted net earnings of $924.7 million for its full 2020 fiscal year, which were down 74.3% compared to 2019.

What a wealth tax could mean for financial planning

Canada’s federal government is considering a wealth tax to reduce inequality and to pay for the relief measures that were implemented in response to the COVID-19 pandemic.

Zoom Is Now Worth More Than ExxonMobil—And Founder Eric Yuan’s Net Worth Has Nearly Doubled In Three Months

As Zoom Video Communications’ stock has skyrocketed, so too has the fortune of its billionaire founder.

Most economic and business forecasts assume there will be an effective COVID-19 vaccine. But what if there isn’t?

As the global COVID-19 pandemic carries on with its deadly toll, most economic and business forecasts assume there will be an effective vaccine against the virus, likely by the middle of next year. But what if there isn’t?

Reasons to stop worrying the pandemic will be followed by a plague of tax increases

Like junior economists, we’re looking at the high level of government spending to fight the pandemic and wondering how it will be paid for without a tax increase. Consider one senior economist’s take on the matter.

The economic damage of the second wave won’t be nearly as devastating as the first — here’s why

With a second wave of COVID-19 upon us, it’s natural to worry whether the pandemic might send the economy skidding into a deep ditch like it did during the first wave.

Global Wealth Hits $400 Trillion For First Time Ever, Despite Covid-19

Average global household wealth has risen by $1 trillion this year, defying the pandemic, but there have been big winners and losers.

Healthcare executives' triumph during the pandemic shows how the accumulation of wealth is changing

For many in healthcare, the coronavirus pandemic has been a challenge. But for a select few, it has been a gold mine.

The resilient city: Why Canadian metropolises will thrive despite the pandemic

Urban dwellers have been fantasizing about escaping to the suburbs and countryside since the COVID-19 pandemic hit. But while the virus is reshaping our cities, they will still be centres of growth and vibrancy in the years to come.

The eternal zero

The pandemic will leave a legacy of even lower interest rates—and even higher asset prices

Regulators Eyeing Tech To Boost Financial Stability

Enhanced supervisory technology (SupTech) with strong governance and skilled human oversight could well have important benefits for financial regulators around the in efforts to increase economic stability in their nations and around the globe, said a report prepared for the G20.

Why 4 Technologies That Boomed During Covid-19 Will Keep People Home More After A Vaccine

A global survey shows that the popularity of video conferencing, telehealth, e-learning and grocery apps will persist even after life goes back to normal. Here's why.

Cheques are COVID-catchers – how to get comfortable using e-transfers instead

So much change is being crammed down our throats these days, most of it negative. For an example of a helpful change brought by the pandemic, consider the rise of the cheque-killing e-transfer.

Mobile Phone Use Surges During COVID-19 Lockdown

Social and workplace restrictions imposed as part of the Covid-19 lockdown resulted in mobile phone conversations lasting longer, according to the market regulator

The pandemic has caused the world’s economies to diverge

As recovery takes place, however, huge gaps between the performance of countries are opening up—which could yet recast the world’s economic order.

Thinking about permanently working from home?

In these times of COVID-related work transitions, do you have the choice to work from home on a permanent basis? That might have seemed like a dream option six months ago, but for others, one that is not so welcome.

Canadians will pay the bill for COVID-19 in higher taxes — here’s how it will likely happen

Nobody is talking about raising taxes these days. Not with the country in the midst of a pandemic-induced recession that risks getting worse if the rising infection rate forces new lockdowns.

After a weak September, get ready for a wild October

September turned out exactly as advertised - markets were down. . Now, what about October? It also has a reputation for high volatility,

The President Has Covid-19; Ten Key Points

The greatest presidential health crisis since Ronald Reagan was shot in 1981 has scrambled everything from the campaign to the financial markets. Some very early observations:

The ‘Atlantic bubble’ has largely succeeded in keeping out COVID-19. But can it last?

As cases reach alarming heights in Quebec and Ontario, the East Coast is healthy and thriving under some of the country’s toughest health rules. Here’s how they did it.

Canada’s economy to take a hit from the second wave, economist says — and some sectors may never recover

The Canadian economy faces a long, slow recovery from COVID-19, and some industries are never bouncing back to where they were, according to a new forecast from a business think tank.

What a second wave could mean for the hardest-hit business sectors

Many have not yet recovered, and many will not. A further blow could be 'pretty disastrous'

A three-point plan for coping with a potential second wave stock market plunge

Now that COVID-19 cases are again rising sharply around the world, it’s worth looking at the potential for another decline and then considering what you’ll do about it.

With CERB winding down, Ottawa starts tinkering with an engine of the economic recovery

If the federal government isn’t careful, its decision to wind down the Canada Emergency Response Benefit could deal a blow to people’s livelihoods and blunt the country’s economic rebound from the COVID-19-caused downturn.

A second wave of COVID-19 could send the markets spinning this fall — here’s how to prepare

The COVID-19 pandemic may have upended the stock market this spring, but it's important to remember not to panic.

Why double-dip recessions are especially difficult, and what they mean for the general state of the economy

Each time a recession looms, financial folk start fretting: Could it become a dreaded double-dip recession? While these types of economic downturns are rare — in fact, the US has experienced only one before — they're always a possibility.

Consumers are buying goods again, but services are slow to recover

Canadians are shaking up their spending patterns during the COVID-19 pandemic, resulting in a two-track recovery for consumption: Sales of goods are thriving, while services are slumping.

New Survey Shows Covid-19 Coronavirus Pandemic Worsening Financial Inequalities In America

An NPR, Robert Wood Johnson Foundation, and Harvard poll showed the percentages of households facing serious financial problems during the pandemic.

Can Craft Whiskey Survive The Pandemic?

Ten years ago, as craft distillers pursued their dreams, the market saw new American whiskey styles. All of that is at risk under Covid.

Does a second wave of COVID-19 mean a second wave of panic-buying and empty shelves? Experts weigh in

With a second wave of the virus looming as cases begin to rise, the question begs: are we in for another panic-buying frenzy? And can Canada’s grocery store supply chain survive a second wave?

UK faces an unemployment shock – and ending furlough will worsen it

Scheme has given firms breathing space in Covid crisis, but Treasury won’t extend it

Sales at Tim Hortons have plummeted and the numbers are brutal — here are five ways to fix it

Tim Hortons is flagging. The Canadian commercial icon is doing so poorly that some industry observers regard it as an albatross for its owner, Restaurant Brands International Inc.

Investor Anxiety Shifts to U.S. Elections as Volatility Returns

After five months of blistering returns for equities amid the pandemic, investors are still bullish, but bracing for another downturn. That’s the overwhelming sentiment among Investopedia readers according to our most recent survey.

The Motherhood Recession

Working mothers facing tough decisions with limited childcare and school options.

Trudeau announces cash for loans, support to Black Canadian entrepreneurs

Black Canadians who want to start or expand a business will have access to loans and supports for training and mentorship under a new federal program unveiled by Prime Minister Justin Trudeau in Toronto Wednesday.

Infographic: Highest Number Of American Young Adults Live With Their Parents Since The Great Depression

In the United States, the catastrophic economic impact of the coronavirus pandemic has forced increasing numbers of young adults to move in with their parents.

Researchers Examined The 2020 Market Crash, Here’s What They Found

The markets may have returned to new highs after the Covid-19 crisis, but researchers are determining the trends that drove stock prices during the market crisis of Q1 2020. Here's what they have found.

Masks and rapid COVID-19 tests can prevent economic catastrophe. So why aren’t they used more?

Employers, finance ministers and central bankers are wondering again how they can find enough money to prevent mass economic suicide. But, two relatively cheap solutions already exist to keep economies trundling along.

Canadian economy added 246,000 jobs in August, unemployment rate 10.2%

Statistics Canada says the economy added 246,000 in August as the pace of job gains slowed compared with July, when 419,000 jobs were added. The figure marked the fourth consecutive month of gains from COVID-19 related lockdowns.

Canada’s economy sees record quarterly slump; June gains suggest early COVID-19 efforts ‘paying off’

The Canadian economy suffered its biggest quarterly slump on record in the second quarter as pandemic-related shutdowns slowed the country to a crawl, but a dramatic rebound in June and July indicates that a recovery is well underway.

Video: What’s the Economic Cost of Covid-19?

What is Covid-19’s economic impact? Warwick McKibbin, professor and director at the ANU Centre for Applied Macroeconomic Analysis, explains.

Mindset Matters: Lessons Learned From The Year That Sucked!

This column explores some of the basic lessons of this harsh year and asks how has COVID impacted organizational thinking in terms of the future of business strategy.

One nation under two per cent: Is it time for a shake-up of the economy’s most important number?

Whether you know it or not, one of the most important numbers in your life is two, as in two per cent. Is it time for a shake-up of the economy’s most important number?

Video: How Covid-19 Has Affected Commercial Real Estate

The Covid-19 pandemic has pummeled the commercial real estate industry. As rents and property values plunge and delinquencies rise, the sector faces a reckoning, especially in New York and other urban centers.

Why the end of CERB could hit consumer spending – and complicate the recovery

The end of federal emergency-income supports will leave a sizable number of unemployed Canadians with less generous benefits, potentially reducing consumer spending and adding uncertainty to the recovery this fall.

New finance minister Chrystia Freeland in difficult spot between fiscal restraint, broader social spending

Freeland takes on the role as the federal government prepares to post a $343B deficit next year, dwarfing any fiscal shortfalls previously seen in Canadian history.

Feds earmark money to help communities adapt to realities of COVID-19

The federal government is offering $31 million to help communities find ways to adapt to the realities of the COVID-19 pandemic.

Employment minister says millions of Canadians will be 'seamlessly' transitioned from CERB to EI by month's end

The CERB program has been criticized for being overly generous at $2,000 per month, creating a disincentive for some recipients to return to work.

Canada's soaring debt isn’t as bad as the ‘90s fiscal crisis yet — but it’s getting there

Canada has pulled out the stops to support the economy through the coronavirus crisis, flooding the system with aid while piling on record debt. Four months into the lockdown we are now getting a sense of the damage.

CRA launches updated CEWS calculator ahead of applications opening Monday

The federal government has launched an updated calculator to help employers estimate what help they may receive from the next phase of the Canada Emergency Wage Subsidy.

Podcast: What the decision whether to reopen schools this fall means for the recovery

The economic recovery is about more than whether the oil sector recovers, whether people resume air travel, or even whether neighborhood bars and restaurants open. For many people, the ability to return to the workforce will depend on whether childcare centres and schools reopen.

Global markets second-guess stimulus policy rollback

The once resolute “whatever it takes” message of government support for pandemic-hit economies is fraying at the margins as some recovery from the COVID-19 shock emerges, leaving buoyant markets pondering the prospect of ebbing stimulus.

A second wave of COVID-19 could pummel the markets — here’s how to protect your portfolio

Now that stock prices have rebounded close to where they were before the crash, it’s a good time to make sure your portfolio and finances are resilient.

Second-wave shutdown a mistake: renowned Harvard economist

When Emmanuel Farhi died suddenly two weeks ago at the relatively tender age of 41, the world lost one of its most brilliant economists. Here's what he thought about shutting down the economy.

With the end of CERB looming, what’s next for the unemployed?

After billions in payments to millions of Canadians affected by the COVID-19 pandemic, the Canada Emergency Response Benefit is coming to an end. What happens now?

Video: We’re Comfortable About the Economic Recovery: Morgan Stanley

Morgan Stanley's chief cross-asset strategist Andrew Sheets talks about risk assets and the economic recovery.

How the COVID-19 pandemic may sabotage retirement for boomers and Gen X

By both financial and emotional measures, people aged 75 and older are weathering the pandemic better than most.

What Is The Stock Market Trying To Tell Us About The Economy? And Should We Listen?

If the stock market is our mother, she says, “There, there. Everything’s goings to be all right.” The two keys to understanding recent pricing: looking forward, and comparing stocks to alternatives.

Canada’s GDP jumped 4.5 per cent in May, but likely fell 12 per cent in second quarter due to COVID-19

Statistics Canada reported that the country’s economy rebounded more quickly than previously thought as COVID-19 shutdowns eased over the spring, but economists caution that the recovery beyond this initial restart will likely be more difficult.

Why layoffs are still piling up, months after the pandemic started

Four months into the COVID-19 pandemic, the pink slips keep coming. As layoffs continue across all industries, a very different Canadian economy will emerge.

Video: Macklem Says Bank of Canada Will Do More If Needed

Bank of Canada Governor Tiff Macklem joins Amanda Lang for his first live interview with BNN Bloomberg, following the central bank's latest interest rate decision.

Video: The Race for a Covid-19 Vaccine

“We believe we could make somewhere between 15 to 50 million doses by the end of this calendar year.” A new human clinical trial for a Covid-19 vaccine is underway at the University of Queensland.

Bank of Canada holds rate, forecasts decline in GDP of 7.8% this year

The Bank of Canada is holding its key interest rate at 0.25 per cent in response to what it calls the “extremely uncertain” economic outlook from the COVID-19 pandemic, and plans to keep it there until the picture improves.

Video: Canada Reclaims 1 Million Jobs Lost to the Coronavirus Pandemic

Canada reclaimed almost 1 million jobs of those lost to the coronavirus pandemic, a promising start to what’s expected to be an arduous recovery.

As debt soars, Ottawa banks on record low interest rates

The federal government is aiming to take full – and lasting – advantage of rock-bottom interest rates as it borrows record amounts to fund its COVID-19-driven spending.

Fiscal update: Morneau projects $343.2-billion deficit; federal debt to climb above $1-trillion

The federal government is forecasting a deficit of $343.2-billion this year due to a sharp decline in tax revenue and massive emergency spending in response to the coronavirus pandemic.

Four things Canada needs to keep the economy open, and the virus contained

As we near the end of the first round against the pandemic, Canada must give itself precision tools for recovery.

What a Second Round of Coronavirus Lockdowns Would Mean for the Stock Market

So far the stock market has remained surprisingly sanguine in the face of the economic and human toll of COVID-19. Now as new virus hotspots emerge in the U.S., investors are having to reassess.

BoC’s Macklem sees ‘downward pressure’ on inflation as goods and services rebound outpaces consumer demand

The Bank of Canada expects consumer demand to recover more slowly than output as the economy claws its way back from the COVID-19 crisis, a combination that could put “a lot of downward pressure” on inflation, Governor Tiff Macklem said in his inaugural speech.

Canada's Clean Energy Sector Can Help Drive Economic Recovery From COVID-19

For Canada, structural economic changes will have significant implications because the oil and gas sector plays a vital role in the national economy and accounts for over 10% of nominal GDP.

There are signs of hope, but economic recovery will be slow

A full recovery is well over a year and a half away, even if there's no second wave of the virus. And while there are some signs of life, they point to a stunted regrowth that will take many more months.

The working person’s pandemic quandary: What to do with all the money being saved in locked-down economy?

The biggest talking point in pandemic personal finance for those lucky enough to have kept their job is how much money they’re saving.

Four reasons to be cautious about this market rebound

Global stock markets are in an ecstatic mood. Their consistent message is that history’s briefest depression is receding fast. Maybe so. But you don’t have to be a curmudgeon to wonder if investors are getting just a bit ahead of reality.

As provinces reopen, Canadian economy shows flickers of life

The Canadian economy is showing signs of a fragile rebound as provinces ease lockdown restrictions, suggesting that the worst of the damage inflicted by the COVID-19 pandemic is over – provided that the outbreak is contained in the months ahead.

UPDATE 1-Reopening schools in Denmark did not worsen outbreak, data shows

As countries across Europe make plans to exit months of lockdown aimed at curbing the virus outbreak, some parents worry that opening schools first might put the health of their children in danger.

What You Can Expect From the Coronavirus Recession, According to Economists

Although the powers that be have yet to formally declare the U.S. in a recession, it’s not hard to see that the coronavirus crisis is decimating the economy.

Cash Exodus: COVID-19 pandemic could accelerate shift to cashless, experts say

Some businesses reopening with pandemic protocols in place have said they won't accept cash for the time being, potentially accelerating what the Bank of Canada describes as a decade-long shift away from the banknote.

Cash Exodus: COVID-19 pandemic could accelerate shift to cashless, experts say

Some businesses reopening with pandemic protocols in place have said they won't accept cash for the time being, potentially accelerating what the Bank of Canada describes as a decade-long shift away from the banknote.

What You Can Expect From the Coronavirus Recession, According to Economists

Although the powers that be have yet to formally declare the U.S. in a recession, it’s not hard to see that the coronavirus crisis is decimating the economy.

As Malls Reopen, Here’s What Your Shopping Experience Will Look Like

Stores want to welcome customers back to engage in carefree shopping excursions, yet at the same time, they’re making enormous efforts to try to assure shoppers and employees that it’s actually safe for stores to be open.

Video: Why Are Real, Financial Worlds Diverging?

Financial markets are buying up risk assets even as economists keep revising down 2020 estimates, and the timeline for reopening economies remains uncertain.

Video: How the Coronavirus Caused Oil Prices to Drop Below Zero

Covid-19 brought the global economy to a screeching halt. One industry hit hard and fast is oil. The coronavirus, oversupply, leverage, and technicals all played a part in the historic catastrophe that came to a head on April 20th.

Video: 'Daunting Task' to Reopen U.S. Businesses in the New Normal

Tom Buiocchi, CEO of ServiceChannel, talks about the challenges of reopening businesses after the shutdown.

Video: Reopening the Economy While Protecting Public Health

This 50 minute webinar hosted by Francine Lacqua and organized by Bloomberg discusses issues related to public health and about the economic impact of the virus.

Staggering job losses as COVID-19 deaths climb; wage supports extended

The economic brutality of Canada's anti-pandemic measures was highlighted on Friday with the latest figures showing almost two million people lost their jobs in April on top of the one million in March.

Can we afford all this? Probably, for now

There's an obvious reason why Finance Minister Bill Morneau sidesteps every question about how big the deficit will be and when he will publish a budget on managing it all. He just doesn't know.

Here’s why there is reason for optimism as the TSX emerges from a bear market

The market is telling a there-and-back-again story. It started the year by peaking and then swooning into a feverish decline, followed by a speedy partial recovery.

How to make Canada a more self-reliant country in the aftermath of the coronavirus pandemic

Canadians have worked together to flatten the coronavirus curve. We need to do the same to bend the economic curve back in our favour.

How is Ottawa going to pay off its COVID-19 debt? With any luck, it won’t have to

To save the economy and support millions of Canadians without work, Ottawa and the provinces are borrowing money on a scale not seen since the Second World War.

In this pandemic war, Canada has come together – while the U.S. falls apart

Americans should be leading the world in the coronavirus fight, not trailing it. Instead of bringing Americans together, the pandemic has become another flashpoint in the country’s culture war.

10 Ways To Prepare For A Post-Coronavirus Recession

Although there’s much uncertainty in our world currently courtesy of the major disruption to our lives from the coronavirus pandemic, there are things you can do to prepare yourself and your company for a post-coronavirus recession.

Here's what it will take to reopen Canada's economy

Lifting restrictions too soon could lead to another wave of infections and hundreds of additional deaths; keeping them in place too long could cause more job losses and business closures while impairing long-term recovery efforts.

Investors were slow to see coronavirus’s global spread. Are they again too complacent about the economic risks?

In the days immediately before the COVID-19 pandemic slammed into the global economy, investors were calmly pushing North American stocks to record highs.

The 4-Part Playbook That Will Help Any Leader Beat A Recession

When things take a turn for the worse, the recession playbook requires leaders to avoid the temptation to panic or play a game of “wait and see” (a surefire way to let competitors steal a march), and instead get proactive and productive. The task is not to react—but to respond.

Will it be a quick or lengthy economic rebound? Charting the possible shape of a challenging recovery

With evidence building that the nationwide effort to contain the novel coronavirus is working, the conversation has shifted toward reawakening the economy.

Video: How the Coronavirus Broke the Global Economy

Bloomberg’s Stephanie Flanders speaks to U.S. economist Adam Posen and asks how governments and economists have measured up to the challenge of the coronavirus.

More help on the way for businesses, Morneau says

The federal government is readying more help for Canadian businesses suffering the impacts of COVID-19, including sectors of the economy such as hospitality, retail and airlines and the country's oilpatch that have taken a severe hit.

The CARES Act: The Tax Provisions And What’s Next

In this episode of Tax Notes Talk, Nicole Kaeding, vice president of policy promotion and economist with the National Taxpayers Union Foundation, discusses the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

Italy Hits Peak Coronavirus, But As The U.S. Worsens, Patience Thins

The good news is that Italy seems to have reached peak coronavirus as expected.

Video: Markets Have Seen the Lows, But Volatility Will Continue

Jason Trennert, chairman at Strategas Research Partners, discusses market volatility and consumer behavior on "Bloomberg Markets.

Pandemic debt: Countries are spending trillions to save the economy from the coronavirus crisis. Can the world afford it?

Over the past three weeks, governments around the world have embarked on one of the greatest peacetime borrowing binges in history. One big uncertainty hovers over these calculations.

Five lasting implications of COVID-19 for Canada and the world

What will be the long-term implications of the pandemic? There will be a number of lasting issues to come to terms with, one way or another, and we believe considering five of these implications should be an early part of our post-pandemic strategic planning.

Suffering Through Your First Financial Crisis? Read This to Relax

A generation of investors is experiencing its first genuine financial crisis. For many millennials, no amount of rational thinking can ease the pain of the first time you watch a fifth of your life savings evaporate in a few weeks. Here's how to get through it.

Predictions for the Coronavirus Stock Market

A Nobel laureate is cautiously positive about the market for the long run but worries about how long that will need to be.

Mutual funds face flood of redemptions in turbulent market

Canadian mutual fund companies are seeing fund redemptions begin to rise as the novel coronavirus rattles global equity markets, leaving panicked investors looking to hit the sell button.

Governments are spending big to keep the world economy from getting dangerously sick

A character in a novel by Ernest Hemingway once described bankruptcy as an experience that occurs “two ways: gradually, then suddenly”. The economic response to the covid-19 pandemic has followed this pattern.

The road ahead: After the lockdown, the question confronting the government will be how to rebuild the economy

Even though the end is nowhere in sight, governments are being forced to imagine what the world after the coronavirus will look like.

Loan relief may end up costing thousands more

After being approached by the federal government, the big six banks put out a joint statement last week stating they would provide financial relief to Canadians impacted by the economic consequences of COVID-19. But be sure to read the fine print.

Paying to stop the pandemic

The struggle to save lives and the economy is likely to present agonising choices.

Canada unveils massive $82 billion stimulus package to combat coronavirus; extends travel ban to U.S.

The federal government is once again cranking up its response to the COVID-19 pandemic, as Prime Minister Justin Trudeau kickstarted the most aggressive national measures yet to prop up the economy.

Video: How Fighting Coronavirus Is Hurting the Global Economy

When Coronavirus strikes, the worst damage is done by the body's effort to fight off the disease. The immune system overreacts. Some critics say that's what's happening with the economy.

Gordon Pape: Negative interest rates could now be coming to Canada. Three investments to prepare for it

A reader sent in a very relevant question last week: “If we head towards negative interest rates like some parts of the world, where does one invest their money to earn a decent return?”

Gordon Pape: What investors should do now in the face of so much uncertainty

We’re now in bear market territory for the first time since the financial crisis. The main questions are how low the markets will go and how long this will last. In the face of such uncertainty, what should you do?

Cash Is King In The Time Of Coronavirus

Businesses and investors have rushed to cash as known cases of Covid-19 passed 140,000 globally and the World Health Organization has declared the virus is now a global pandemic.

‘All crises end’: Crucial financial lessons for the coronavirus crash, learned from past collapses

On his way out the door, former Bank of Nova Scotia chief executive officer Rick Waugh shared some advice that seemed so simple but has proven invaluable. All crises end.

Investors prepare for more market swings as virus spreads in the U.S.

With one of Wall Street's wildest weeks in recent memory now in the history books, investors are bracing for more uncertainty and big market swings ahead.

How Could The Coronavirus Outbreak Impact The Cavaliers Financially?

A game between the Utah Jazz and the Oklahoma City Thunder was cancelled after it was discovered that Utah center Rudy Gobert had tested posted for coronavirus. As a result of this, the NBA has suspended play until further notice so they can figure out the proper steps forward.

Five Critical Ways The Coronavirus Could Decide The Next President

In the United States, there has already been a major impact on the political selection process, but what does that mean moving forward?

Corporate bonds and loans are at the centre of a new financial scare

The pool of corporate lending has risen to $74trn.

Foot traffic has fallen sharply in cities with big coronavirus outbreaks

Google data show Rome has been one-third less busy than usual

Banks can handle potential energy losses, but face risks if larger economic crisis triggered by coronavirus unfolds

Canada’s big banks can absorb some potential losses on loans, but a larger economic crisis triggered by the COVID-19 virus could still cause significant damage to loan books, analysts warned Monday.

Coronavirus fears hit the market hard. How much did ordinary Americans lose?

The deep declines in the U.S. stock market over coronavirus fears the last three weeks have left a dent in retirement portfolios and brokerage accounts.

How will coronavirus hit money, pensions and property prices?

We look at whether you should sell shares and hold off buying a home, or just sit tight

The corona effect: Why governments and central banks face a challenge like never before

While the ultimate scope of the virus outbreak remains very much in doubt, the uncertainty around the disease is poisonous in its own right. It freezes decision-making and casts a pall over risk-taking. That is creating a cascading series of risks.

The US is sprinting to develop a coronavirus vaccine or treatment. Here's how 9 top drugmakers are racing to tackle an outbreak that's spreading around the world.

Multiple drug companies are working with US health authorities to develop treatments for a coronavirus outbreak. Here's how nine leading drugmakers are attempting to fight the virus.

Three ways the coronavirus could affect banking globally

As fallout from the coronavirus outbreak continues, we see the possibility of three trends developing in the global banking industry in response.

There will be no easy cure for a recession triggered by the coronavirus

An economic collapse may have already begun and globalisation will make recovery more difficult.

The right medicine for the world economy

Coping with the pandemic involves all of government, not just the health system.

Interest rate cut as virus hits economy

The Bank of Canada slashed a key interest rate Wednesday in a bid to blunt the economic impact of the spread of COVID-19 even as Prime Minister Justin Trudeau warned that a slowdown is already taking hold.

Coronavirus could push UK to brink of recession, says Goldman Sachs

Analysts at Deutsche Bank halve UK growth forecast for this year to only 0.5%.

Business Planning For The COVID-19 Coronavirus

Business leaders are asking about the COVID-19 coronavirus’s impacts on the economy and what a company can do to help its employees. They should also be considering business planning for a disaster.

Bank of Canada cuts rates as coronavirus delivers ‘negative shock’

The Bank of Canada cut its key interest rate by 50 basis points Wednesday in response to the “material negative shock” of the COVID-19 virus

The markets just saw their worst week since the 2008 crisis. Here’s what you should do now

Pape says: In past columns, I have written about how to prepare for a correction. But that’s history. Now we’re actually in one. So, what to do at this point? Here are some suggestions.

Video: Mohamed El-Erian Breaks Down Coronavirus Impact Into Four Stages

Mohamed El-Erian, chief economic adviser at Allianz and a Bloomberg Opinion columnist, explains the four distinct phases he sees for markets and economies related to the spread of the coronavirus.

As its covid-19 epidemic slows, China tries to get back to work

Officials shift their focus to reviving growth. But that isn’t easy

Video: How Coronavirus Purged The Market

“This is definitely not a time to panic.” Markets are tumbling on coronavirus fears. Global markets editor Hilary Clark breaks it down.

How China’s coronavirus epidemic could hurt the world economy

When shocks hit the global economy, Wall Street looks to history to see what will happen next. The outbreak in China of covid-19, a respiratory disease, invites a comparison to the last one, SARS.

Coronavirus effect on Canada’s economy will be different from SARS

Regardless of the direct impact of pandemics on economic activity in Canada and globally, it’s their psychological effects on economic participants that pose the deeper risk.

In sickness and in health: World market themes for the week ahead

With China on sick leave due to the coronavirus, here are five world market themes for the week ahead.

Morneau says coronavirus outbreak will hit Canadian economy, affect oil prices and tourism

The spreading coronavirus outbreak will hit the Canadian economy, in particular, the tourism sector, supply chains and the struggling oil industry, Finance Minister Bill Morneau said on Monday.

The Wuhan coronavirus: What we know so far about the new disease

Here's the latest on what you need to know about the Wuhan coronavirus outbreak.

China, Then And Now: Why Coronavirus Is A Bigger Threat To The Global Economy Than Previous Outbreaks

The coronavirus is likely to have a bigger economic impact than previous outbreaks thanks to a rapidly growing Chinese economy and its deeper commercial ties to the U.S.

Coronavirus has finally broken the resolve of markets. Here’s why you shouldn’t run from stocks

That track record of health emergencies also suggests stock-market losses are typically fleeting – sell-offs that can last as little as three weeks.

Don’t overstate the risk of coronavirus to the Canadian economy

The financial markets are bracing for the coronavirus outbreak to seriously infect the Canadian economy. The reality is more likely to be a case of the sniffles.

Take Five: When China sneezes

From the coronavirus to the Bank of England, here are five themes that will shape global economies and markets in the week ahead.

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