Chairs are stacked outside a restaurant in Montreal on Sept. 29. The Quebec government ordered restaurants, bars and casinos to close for 28 days, effective midnight Sept. 30, after a recent spike in new daily coronavirus cases.

Christinne Muschi/Reuters


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Christinne Muschi/Reuters

Chairs are stacked outside a restaurant in Montreal on Sept. 29. The Quebec government ordered restaurants, bars and casinos to close for 28 days, effective midnight Sept. 30, after a recent spike in new daily coronavirus cases.

Christinne Muschi/Reuters

Among the enormous burdens of fending off the coronavirus pandemic, many countries closed whole sectors of the economy while boosting emergency spending to keep citizens afloat. Now in Canada, momentum is building for another extraordinary measure: a basic income guarantee.

Simply put, it’s when residents receive cash from the government, without conditions, to ensure they meet their basic needs.

Prime Minister Justin Trudeau’s government has delivered

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Parachute, Canada’s national charity dedicated to injury prevention, launches new contest with support from Desjardins Insurance.

TORONTO, Sept. 24, 2020 /CNW/ – Do you follow all the rules? Are your driving skills second to none? Find out if that’s true, have fun, and win up to $10,000 cash in the new Canada’s Safest Driver contest.

This skills-based contest, which launches October 1, 2020, invites Canadian residents of age of majority with a valid driver’s licence to download the Canada’s Safest Driver app. It’s available as of September 24 at parachute.ca/CanadasSafestDriver.

This telematics app, developed by Cambridge Mobile Telematics, will track the following five indicators of safe and responsible driving:

  • Speed: are you obeying the speed limits on your trip?
  • Braking: are you screeching to a halt or braking safely in advance of your stop?
  • Acceleration: do you “gun it” or accelerate at a steady pace?
  • Cornering:
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(Bloomberg) — Six months after the Covid-19 shutdowns, more than two-thirds of Canadian small businesses still haven’t returned to full sales, according to a new report.

Only one in three, or 29%, of small- and medium-sized companies surveyed by the Canadian Federation of Independent Business said they’re back to “normal or better” sales as of Sept. 16. That number is largely unchanged since mid-July.

The report coincides with recent data that suggest the economic recovery is losing momentum after a quick initial rebound in the summer. Many businesses still face capacity restrictions imposed by provincial and local authorities to curb the virus outbreak. Those restrictions may get tighter, with some cities experiencing a spike in new cases.



a screenshot of a cell phone: Below Par


© Bloomberg
Below Par

“This underscores the need to kick the recovery into a higher gear,” Laura Jones, chief strategic officer at CFIB, said in the report. “The current situation just isn’t sustainable.”

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A visitor touches a 220kg gold bar at Jinguashi Gold Ecological Park, Taiwan. Photo: Pichi Chuang/Reuters
A visitor touches a 220kg gold bar at Jinguashi Gold Ecological Park, Taiwan. Photo: Pichi Chuang/Reuters

Canada’s Wheaton Precious Metals (WPM) has announced plans to list on the London Stock Exchange (LSE.L) as demand for precious metals from investors has been surging amid turbulence in equity markets of late.

Wheaton, one of the world’s largest companies involved in buying gold and silver, has a market capitalisation of about $23bn (£17.6bn), and is listed in Toronto and New York. On those indices, its shares have risen more than 70% this year.

Gold prices have risen this year by roughly 28% and hit a record high of above $2,000 an ounce in August. Silver has also been gaining, up 50% to $27 an ounce. 

The precious metal's value has been up this year amid investor fears in the equities market. Chart: Yahoo Finance
The precious metal’s value has been up this year amid investor fears in the equities market. Chart: Yahoo Finance

“News that Canada’s Wheaton Precious Metals is looking to

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By Fergal Smith

TORONTO, Sept 16 (Reuters)Setting a target for bond yields could help the Bank of Canada reduce the amount of debt it buys to keep interest rates low, checking a threat to market liquidity after the central bank’s share of bonds more than doubled this year, strategists said.

Canada’s central bank launched its first large-scale asset purchase program in April, committing to buy C$5 billion ($3.8 billion) of government bonds per week to support the economy after it was hammered by the coronavirus pandemic.

Last week, the BoC opened the door to adjusting the program, which helps lower borrowing costs but could cause some dysfunction for the market as the central bank’s bond holdings climb.

The BoC’s stake of bonds outstanding has increased to about 30% from 14% at the start of the year, including purchases at auction, data from the Bank of Canada shows.

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By Rod Nickel

WINNIPEG, Manitoba, Sept 11 (Reuters)A wave of consolidation is underway in Canada’s Montney oil and gas region as small companies struggling to weather the impact of coronavirus on the energy industry sell their holdings in what just a few years ago was a booming patch.

Lockdowns and sharp contractions in economic activity have hammered global oil demand in 2020, pushing prices so low that producers worldwide have made record output and spending cuts.

Canada, the world’s fourth-largest oil and gas producer, was already struggling as investors and foreign companies left to invest in production elsewhere that is cheaper and less carbon-intensive.

The Montney, which straddles Alberta and British Columbia, has seen at least nine significant deals worth some C$2.3 billion ($1.75 billion) in the past year.

It produces 1.5 million barrels of oil equivalent per day, including 45% of Western Canada’s gas supply,

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TORONTO (Reuters) – Canada’s main stock market index fell on Friday, taking its weekly loss to nearly 3%, as a selloff in high-flying technology shares continued, while the Canadian dollar rallied as domestic jobs data added to evidence of economic recovery.

The Toronto Stock Exchange’s S&P/TSX composite index <.GSPTSE> closed down 1.4% at 16,218.01, after paring earlier losses.

It was the second consecutive day of volatile trading for the TSX and other North American indexes, which had been on a tear since March. For the week, the TSX was down 2.9%, its biggest weekly decline since June.

“The market sell-off has been driven by technology names which have fallen in sympathy with U.S. counterparts and equity markets in general,” said Ben Jang, a portfolio manager at Nicola Wealth. “Profit-taking is not surprising given the recent outsized returns in technology.”

Shares of commerce platform provider Shopify Inc <.SHOP.TO>, Canada’s largest company

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Canadian coins (Jerin John/Unsplash)

Following last year’s QuadrigaCX collapse and loss of client funds, Canada’s crypto exchanges are going the extra mile to rebuild the trust of consumers.

Announced Wednesday, Toronto-based Coinberry has acquired a financial institution bond, a requirement for registration with its provincial securities regulator, the Ontario Securities Commission.

The move is a concrete example of a general tightening of regulation in Canada, particularly in the wake of the Quadriga debacle.

Related: A New Attempt to Tokenize Real Estate Projects in Mexico and Canada

“Every Canadian crypto user remembers Quadriga and the impact of that is still fresh in the back of their minds,” said Coinberry CEO Andrei Poliakov. “People still have to trust exchanges and platforms to use crypto and the investment on Coinberry’s part protects against the corrupt human element that has struck the personal finances of many Canadians.”

Read more: Gerald Cotten: Mystery Man

In the U.S., surety bonds

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TORONTO (Reuters) – A staggered reopening from lockdowns, supported by fiscal stimulus, is likely paying off for Canada’s economy, with activity forecast to rebound in the current quarter twice as fast as in the United States, its biggest trading partner by far.

Canada’s economy is set to grow at an annualized rate of 36% in the third quarter, compared to 20% for the United States, the average forecasts of Canada’s six largest banks showed. That reflects some catch-up for Canada after an estimated deeper slump in the second quarter, but also greater success at controlling the spread of the coronavirus pandemic.

The number of daily new cases in Canada has slowed to less than 400, using a 7-day moving average, from about 1,800 at its peak in May, according to Canada’s Public Health Agency. A spike in U.S. infections last month led to some states making a U-turn on reopening

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Canada’s Finance Minister Bill Morneau tendered his resignation Monday amid an ethics scandal tied to a well-known and well-connected charity. The allegations involve a free trip and favoritism, and have entangled the Prime Minister himself.
Morneau’s successor, deputy prime minister Chrystia Freeland, will become Canada’s first female finance minister and must now grapple with a struggling economy, buffeted by a global pandemic.

With Morneau’s resignation and Freeland’s appointment, there is no doubt the Trudeau government is trying to regain its footing. The Prime Minister also announced that the current parliament session will end, which means that ethics inquiries currently at committee won’t be able to resume hearings until the fall.

Opposition leaders say Trudeau is risking the country’s pandemic recovery with his cabinet changes, and attempting to distract from the scandal.

“At a time when Canadians are worried about their health and their finances, Justin Trudeau’s government is so consumed
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