Public companies are deferring long-term capital expenditure, pausing share repurchase programs and cutting dividends to deal with the economic fallout of the coronavirus crisis. But companies in the health-care and information technology sectors are proving to be more resilient, said Nick Getaz, vice-president and portfolio manager in Franklin Templeton’s equity group, in a webinar on Thursday. “At this point, […]
While the coronavirus pandemic certainly doesn’t change pension plan sponsors’ fundamental fiduciary duty to their plan members, the crisis is creating circumstances that will test how that responsibility manifests. Fiduciary duty arises when one party has a certain vulnerability in respect to another party, said Kenneth Burns, partner at Lawson Lundell LLP, in a webinar roundtable hosted by the […]
Amazon.com Inc. is extending its increased hourly pay for all global employees and its double overtime pay for employees in Canada and the U.S. through May 30. The pay increase, which began in April, is $2 an hour in Canada, US$2 in the U.S., £2 in the U.K. and about €2 in many European Union countries. The extensions increase […]
The majority (93 per cent) of Canadian employers plan to favour a government-based approach when it comes to bringing their employees back to work, according to a new survey by Aon. The survey, which reached more than 500 Canadian organizations in late April, also found 82 per cent of respondents said they’ll stagger return to […]
With the coronavirus pandemic set as the backdrop for the foreseeable future, employers are getting mixed signals about the best way to function safely and effectively. “You have to look at this from the perspective of [having] the federal government saying, ‘Here’s what we think you should do,'” says Kathleen Chevalier, partner at Stikeman Elliott […]
The extent of fiscal and monetary intervention in the economy in response to the coronavirus crisis is likely to lead to deficits unlike anything seen before and result in asset prices faring better over the near term than the overall economy, said Bert Clark, president and chief executive officer of the Investment Management Corp. of Ontario, […]
The coronavirus pandemic has prompted U.S. employers to make several changes to their health and retirement offerings, according to a new survey by the International Foundation of Employee Benefit Plans. On the health benefits side, nearly all respondents (98 per cent) said they’re offering virtual health services, up 10 per cent from before the pandemic. And nearly half […]
Aon has introduced an interactive online tool that forecasts the impact of the coronavirus on employee populations across Canada, aiming to help employers anticipate the effect on their benefits plan costs, absenteeism and potential requirements for shifting work operations. “COVID-19 has brought on uncertainties in many aspects of our lives and this application will help […]
The federal New Democrats say all Canadians require access to two weeks of sick leave benefits as provinces start moving to reopen their economies while fighting the coronavirus and the federal government should pay for it. NDP Leader Jagmeet Singh said Wednesday that workers without sick leave who are put back on the job during the pandemic […]
To say things have changed since I wrote my last editorial is a massive understatement. Of course, the early rumblings of the coronavirus pandemic were already underway in the early weeks of 2020, but they were still very far removed from Canada’s reality. At the time of writing these words in mid-April, worldwide coronavirus cases […]