The Bank of Canada is warning that the downturn tied to COVID-19 will be the worst on record and that the economic recovery will depend on the effectiveness of current measures to bring the pandemic under control. The pandemic has forced companies to close and workers to stay at home as much as possible in […]
The federal government is shaking up the people in the top spots at the Canada Infrastructure Bank, including saying goodbye to the chief executive and installing a new board chair. Out is Pierre Lavallee, the first CEO of the infrastructure financing agency that the Liberals created two years ago. In as the new board chair […]
The Bank of Canada cut its key interest target by half a percentage point to 0.25 per cent in an unscheduled rate announcement Friday. The central bank said its decision to lower rates is aimed at cushioning the economic shocks from COVID-19 and a sharp drop in oil prices by easing the cost of borrowing. […]
The Bank of Canada is cutting its overnight rate target by half a percentage point to 0.75 per cent in response to COVID-19. The central bank said Friday the unscheduled rate decision was due to the pandemic and its impact on the economy, adding that lower oil prices, even since its last scheduled rate decision […]
The federal government is rolling out a $1 billion funding package to help provincial health-care systems cope with the increasing number of new coronavirus cases and to help Canadian workers who are forced to isolate themselves. The Liberals are loosening restrictions on employment insurance payments for people who are off work due to illness by […]
The Ontario Teachers’ Pension Plan has signed a US$300-million deal investment deal with New Gold Inc. Under the agreement, the pension fund will acquire a 46 per cent free cash flow interest in the New Afton gold-and-copper mine. Ontario Teachers’ has an option to convert the interest into a 46 per cent joint venture interest […]
The Caisse de depot et placement du Quebec missed its benchmark portfolio last year due to lacklustre performance of real estate and infrastructure assets and a focus on long-term stability, even as it enjoyed its strongest return on investment in five years. The Quebec pension fund manager generated a 10.4 per cent annual return on […]
A Scotiabank retirement survey says more than half of respondents are concerned that financial pressure will force them to re-enter the workplace after they retire. The poll found that the average Canadian respondent expects to retire at 64 years old, while six per cent don’t plan to ever retire. Fear about losing their financial independence […]
The Quebec government has selected a relative newcomer at the Caisse de dépôt et placement du Québec to succeed Michael Sabia as its new head. Charles Émond is poised to take over as president and chief executive of the province’s pension fund manager. He moves up from his role at the Caisse as senior vice-president overseeing […]
As Mountain Equipment Co-op makes major changes to remain viable, the Vancouver-based retailer is investing in its frontline employees. MEC converted more than 950 jobs classified as casual, non-permanent roles into full- and part-time positions. Those employees will now receive MEC’s benefits package, which includes extended health and dental coverage, a tuition assistance benefit, a […]