Nearly 3.3 million Americans applied for unemployment benefits last week — more than quadruple the previous record set in 1982 — amid a widespread economic shutdown caused by the coronavirus pandemic. The surge in weekly applications was a stunning reflection of the damage the viral outbreak is doing to the economy.
Instead of helping their clients plan a long awaited trip or a vacation of a lifetime, these days travel agents are working overtime trying to sort through a mirage of cancellations and closures, while trying to find ways home for overseas travellers. When COVID-19 began to spread, Lesley Keyter created a folder
The unprecedented stock market sell-off underway has many Canadians wondering if the time hasn’t come to shut down stock markets entirely for a while, in order to give everyone a breather while the world economy deals with the coronavirus. Canada’s benchmark stock index has lost more than a third of
The U.S. Federal Reserve took emergency action Sunday and slashed its benchmark interest rate by a full percentage point to nearly zero and announced it would purchase more Treasury securities to encourage lending to try to offset the impact of the coronavirus outbreak. The central bank said the effects of
The Federal Court of Appeal has dismissed an attempt by airlines to suspend the country’s new passenger rights charter until an appeal of the regulations is heard. A judge turned down a motion by Air Canada, Porter Airlines Inc. and 14 other carriers to freeze the traveller protections while the
Shares of Tesla tumbled 17 per cent on Wednesday, hitting the brakes on a dramatic rally after a senior executive warned the coronavirus outbreak in China would delay deliveries of Model 3 cars made at its Shanghai plant. Tesla shares lost $154 or more than 17 per cent to close at $732 Wednesday, after
Canada’s economy grew 0.1 per cent in November, driven largely by higher utility costs and mostly offsetting October’s surprise decline, Statistics Canada data showed on Friday. Analysts in a Reuters poll had forecast no change after an unexpected 0.1 per cent decline in October. Goods-producing industries and the services sectors both posted
A new report found that the reality of retirement in Canada isn’t quite what people expect it to be. The online poll of 1,800 people conducted by Ipsos on behalf of RBC revealed notable misconceptions surrounding retirement. They include the timing of that last day on the job and how Canadians actually spend their