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Canadian economy bounces back in May, but 'normal' could be a long time coming

Canadian economy bounces back in May, but 'normal' could be a long time coming

Canada’s economy is healing, but the damage done by the COVID-19 pandemic and the threat posed by a second wave of the coronavirus means a return to normalcy isn’t happening anytime soon, experts say.Statistics Canada reported on Friday that real gross domestic product in May was 4.5 per cent higher compared to April, which was better than the Bay Street consensus of 3.5-per-cent growth.We apologize, but this video has failed to load.Try refreshing your browser, or.The positive economic growth in May came as provinces and territories began reopening parts of their economies, StatsCan noted....

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Jul 31
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How a Chinese firm with Canadian ties jumped to the front of the coronavirus vaccine race

How a Chinese firm with Canadian ties jumped to the front of the coronavirus vaccine race

When a group of Chinese scientists gathered over barbecue and beer in a Toronto backyard a decade ago, talk drifted to their homeland’s vaccines, which had long lagged the developed world on quality and safety. Four of them decided to act.They left top positions at global pharmaceutical companies in Canada to set up a biotechnology firm half a world away in Tianjin, China, hoping to produce vaccines on par with Western countries. Now, that company, CanSino Biologics Inc., is vaulting into the global spotlight as connections on both sides of the Pacific make it one of the front-runners in...

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Jul 1
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Posthaste: Housing affordability is a worry but one analyst believes the scales may tip in favour of buyers as early as this summer

Posthaste: Housing affordability is a worry but one analyst believes the scales may tip in favour of buyers as early as this summer

We apologize, but this video has failed to load.Try refreshing your browser, or.Good morning!Real estate agents can be forgiven for being a bit smug these days. The pandemic may have cut new home sales listings, but there are plenty of buyers knocking on doors.Anecdotal evidence, and now some real data, suggests home prices are rising and there is brisk market activity.National home sales rose 63 per cent on a month-over-month (m-o-m) basis in June, while actual (not seasonally adjusted) national average sale price posted a 6.5 per cent year-on-year gain, according to the Canadian Real...

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Jul 31
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Mexico can benefit from Chinese economic slowdown, Lopez Obrador says

Mexico can benefit from Chinese economic slowdown, Lopez Obrador says

Filed underShare this storyMexico can benefit from Chinese economic slowdown, Lopez Obrador saysMEXICO CITY — A slowdown in China’s economy this year should allow Mexico to attract more investment, lure companies and create jobs, Mexican President Andres Manuel Lopez Obrador said on Monday.Speaking at a regular government news conference, Lopez Obrador pointed to forecasters’ expectations that China’s economy will post its weakest growth in years in 2020 amid disruptions caused by the coronavirus outbreak.“That means this big factory, the biggest factory in the world, will reduce its...

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May 25
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Ottawa to seek equity or cash from companies applying for new COVID-19 loan program

Ottawa to seek equity or cash from companies applying for new COVID-19 loan program

Filed underShare this storyOttawa to seek equity or cash from companies applying for new COVID-19 loan programOTTAWA — Large companies that receive bridge financing through a new federal loan program will have to give the government the option to take an ownership stake, or provide a cash equivalent.Finance Minister Bill Morneau says the terms will be the same for any company asking for help through the program that opens for applications today.He says the terms are designed to make sure companies using the program receive bridge loans, not bailouts, to get through COVID-19’s economic...

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May 20
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Nuclear Fusion Startup Gets $84 Million to Enter Next Phase

Nuclear Fusion Startup Gets $84 Million to Enter Next Phase

Filed underShare this storyNuclear Fusion Startup Gets $84 Million to Enter Next Phase(Bloomberg) — U.S. clean-energy startup, Commonwealth Fusion Systems, raised an additional $84 million from major investors in Europe and Asia, underscoring that the appetite remains to back new technologies that could mitigate climate change.As the world looks to ramp up the use of intermittent renewable energy, it needs to add forms of flexible clean power that can be turned on whenever needed. That’s why investments in previously-fringe technologies like long-duration energy storage, hydrogen and...

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May 26
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Wattpad chooses Halifax over Calgary for second HQ, citing Wexit and cuts to Alberta’s tech tax credits

Wattpad chooses Halifax over Calgary for second HQ, citing Wexit and cuts to Alberta’s tech tax credits

Filed underShare this storyWattpad chooses Halifax over Calgary for second HQ, citing Wexit and cuts to Alberta’s tech tax creditsWattpad chose Halifax over Calgary as the site of its second headquarters, citing concerns about Western separatism and cuts to Alberta’s tax credits for tech companies, .Toronto-based Wattpad has announced it was building a new office in Nova Scotia. Calgary had been among the cities bidding to host the company.At a forum in Lake Louise on Nov. 29, Calgary Economic Development (CED) CEO Mary Moran told a group of Alberta business leaders that “We, as an...

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Dec 11
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