Canada column for
Sunday, May 17/20
THE CANADIAN REPORT
(c) By Jim Fox
Many Canadians are
at their summer “cottages” this holiday weekend despite warnings from health
officials about spreading the COVID-19virus.
They were asked to
stay home on this three-day Victoria Day weekend that traditionally marks the
unofficial start of summer.
Many provincial and
national parks have reopened to visitors for day use only, not including
fishing, boating or camping.
Cottage country
mayors north of Toronto also concerned about day-trippers.
“I know Ontarians
are eager to enjoy the great outdoors,” said Premier Doug Ford, who went to his
cottage on Easter Sunday to check on the plumbing.
Those with vacation
homes should travel with immediate family members only and take food and other
necessities with them, he added.
“We can’t restrict
travel,” said Canmore Alberta Mayor John Borrowman near Banff National Park but
urged cautions.
The ban on
cross-border non-essential travel between Canada and the United States remains
in effect through June 21 at least.
Canada has had about
75,000 confirmed COVID cases and 5,550 deaths.
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The future of Air
Canada, the country’s national airline, is in jeopardy as up to 20,000 workers
are losing their jobs on June 7.
In a memo to its
38,000 workers, management said Air Canada is flying at five percent of its
capacity due to travel restrictions and is losing $22 million a day.
Flight attendants are
being asked to cut hours, take a leave or resign.
“Sadly, the hard
truth is that we will be materially smaller for at least three years,” said
Craig Landry, executive vice-president of operations.
---
News in brief:
- Nova Scotia
Premier Stephen McNeil said his government will “provide support” in any public
inquiry into a shooting rampage that took 22 lives last month. McNeil said he
expects there will be a federal review of the killings by a disgruntled
Halifax-area denturist. Public Safety Minister Bill Blair said the government
is considering an independent commission of inquiry.
- Canada’s central
bank is concerned about the ability of companies to weather the pandemic’s economic
crisis. Bank of Canada governor Stephen Poloz warns that a cash-flow problem
for businesses could soon develop into a solvency issue. There has been $150
billion in federal aid, the slashing of the key interest rate to 0.25 percent
and buying bonds to ease the flow of credit.
---
Facts and figures:
The Canadian dollar
is lower at 70.86 cents U.S. while the U.S. dollar returns $1.41 Canadian before
exchange fees.
The Bank of Canada’s
key interest rate is steady at 0.25 percent while the prime lending rate is 2.45
percent.
Canadian stock
markets are mixed with the Toronto index down at 14,638 points and the TSX Venture
index up at508 points.
The average price
for gas in Canada is up at 89.3 cents a liter (Canadian) or $3.39 for a U.S. gallon.
Lotto Max: (May
12) 11, 19, 22, 26, 33, 46 and 48; bonus 1. (May 8) 3, 4, 10, 11, 26, 28 and 40;
bonus 31.
Lotto
6/49 (May 13) 3, 10, 21, 35, 38 and 48; bonus 28. (May 9) 13, 14,
15, 35, 45 and 47; bonus 9.
---
Regional briefs:
- House buyers are
on the sidelines and prices are flat as Canada’s housing market had a sales
slump of a record 56.8 percent last month. The Canadian Real Estate Association
said activity was down 66.2 percent in the Greater Toronto Area; 57.9 percent
in Greater Vancouver; 51.5 percent in Ottawa; and 42 percent in Winnipeg. The
average house price of $488,000 was down by 1.3 percent.
- The highly
anticipated lobster fishing season opened this weekend in Atlantic Canada. Fishermen
began setting traps but are concerned over a shortage of workers and low prices
of just $5 a pound. New Brunswick put a halt on temporary foreign workers entering
the province to curb the spread of the pandemic.
-30-
Jim Fox can be reached at canadareport@hotmail.com
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