COVID-19 Hard on Lower Income Canadians

Posted by & filed under Canadian Government, Student life.

Description: We could soon be dealing with two million unemployed Canadians in the face of the COVID-19 virus. Canada has not seen unemployment rates like this in over 70 years. The story tells us that the job losses are not distributed very evenly, with about 40% of those making $14 an hour or less facing… Read more »

Tax Breaks – of a Sort

Posted by & filed under Personal Tax.

Description: During this highly unusual situation with Canada dealing with COVID-19, the Canada Revenue Agency (CRA) is giving some valuable extension room to Canadians. For instance, the normal April 30 deadline for most Canadians has been extended to June 1. CRA has set up a webpage to help Canadians keep up to date with these… Read more »

No Merger?

Posted by & filed under Financial Reporting and Analysis, Marketing & Strategy.

Description: Canada’s Competition Bureau is warning against the proposed acquisition of Air Transat by Air Canada. The Bureau is concerned that the combination of the two carriers would make things worse for travelers by raising prices and reducing service. The two airlines have over 80 routes with overlap. Date:  March 27, 2020 Source:  thestar.com Link:… Read more »

Run on EI

Posted by & filed under Canadian Economy, Canadian Government.

Description: During this last week approximately 500,000 Canadians filed a claim for Employment Insurance (EI). In the same week the previous year, only 27,000 filed. The corona virus has caused closures and layoffs throughout the land, prompting unemployed Canadians to see this form of assistance. Date:  March 20, 2020 Source:  theglobeandmail.com Link: https://www.theglobeandmail.com/business/article-ottawa-receives-500000-new-applications-for-employment-insurance-as/   Discussion… Read more »

Big Fine for Apple

Posted by & filed under Ethics.

Description: Just as in the week before, it is a bit of a challenge to find a business story that wasn’t about the corona virus. This one may catch your attention though: France has fined Apple and two wholesalers over $1.2 billion for anti-competitive behaviour. Perhaps not too suprisingly, Apple disagrees with the decision and… Read more »

Flames to the Rescue

Posted by & filed under Student life.

Description: During this highly unusual situation with COVID-19, we have seen the sudden interruption of various professional sports seasons. This has left many part-time employees who worked in arenas and sports venues without work. In Calgary, the NHL Flames had originally taken the stance that the employees who weren’t working would not be paid. But… Read more »

Truck Driver Shortage

Posted by & filed under Student life.

Description: It was hard to find a business story this week that wasn’t about the corona virus. But, here’s one: officials are worried about a massive shortage of truck drivers to move goods across North America. According to a recent report, Canada is short 20,000 drivers. It seems like the self-driving vehicles won’t be bailing… Read more »

Airline Industry Woes

Posted by & filed under Accounting Principles, Canadian Economy.

Description: Perhaps no industry has been hit harder by the Corona virus than travel and tourism. Flight attendants at Westjet are anticipating layoffs of up to 50% in the face of COVID-19. Things are moving very quickly in this crisis, as earlier in the week the layoff numbers being tossed around were in the order… Read more »

A Budget in 17 Minutes

Posted by & filed under Advanced Accounting, Canadian Government.

Description: One unusual outcome of the current corona virus situation may have been the unusual co-operation at the Legislative Assembly of New Brunswick on Friday. While budget debates are often long and perhaps divisive, this year in NB the budget and an additional bill passed in 17 minutes, with no one voting against the budget…. Read more »

Mortgage Rates Drop

Posted by & filed under Canadian Economy.

Description: Mortgage rates in Canada took a drop this week following the Bank of Canada’s 50 basis points cut to its rate. The site ratespy.com – https://www.ratespy.com/ – estimated that for each 1/2% cut in interest rates, Canadians would save $500 per year on each $100,000 borrowed. This is Canada’s lowest interest rate since the… Read more »