Category
Economy
OPINION: The chemical industry’s response to a crisis while in crisis
by Dean Curtis, president and CEO of ICISIn recent months, it has never been clearer just how important and responsive this industry is when faced with a global health crisis.
Canadian small business confidence on the rise, but half are still in bad shape: CFIB
by Canadian PlasticsSevere operating challenges remain, but Canada’s small business sentiment improved in early May, according to new figures from the Canadian Federation of Independent Business.
Plastics and composites will maintain growth trajectory through 2020 despite COVID-19, report says
by Canadian PlasticsDespite the impact of the COVID-19 pandemic across industries, the demand for modular building materials and advanced admixtures will propel the construction chemicals segment, according to a new report from Frost & Sullivan.
Oil supply cuts could curtail 15% of ethylene supply in Middle East, analyst says
by Canadian PlasticsThe potential loss is due to oil supply dynamics, according to new analysis from Wood Mackenzie, and equates to around 1.5 million tons of ethylene.
Ontario declaration of emergency extended to June 2
by Canadian PlasticsThe provincial government has also passed new legislation that will allow for more virtual or remote transactions during COVID-19.
SPECIAL REPORT: Canada, plastics & COVID-19
by Canadian PlasticsMore than just a humanitarian crisis, the COVID-19 pandemic is causing global economic disaster, as the virus domino toppled supply chain lines and shuttered factories in China, Europe, and then worldwide. And Canada’s plastics industry isn’t being spared the effects.
More financial support for mid-size businesses navigating COVID-19 crisis
by Canadian PlasticsIntended for businesses with revenues between $50 million to $300 million, the new expanded Business Credit Availability Program is supported by Export Development Canada.
Canada’s emergency wage subsidy program to be extended beyond June 6
by Canadian PlasticsThe program covers 75 per cent of worker pay up to $847 a week.
Unemployment hit near-record levels in Canada and the U.S. in April
by Canadian PlasticsThe unemployment rate in Canada soared to 13 per cent in April, while unemployment in the U.S. hit 14.7 per cent, the highest unemployment rate in that country since the Great Depression.
Quebec delays reopening of businesses in Montreal until May 18
by Canadian PlasticsBut the construction and manufacturing sectors across Quebec will reopen as scheduled on May 11, Premier Francois Legault said.
CFIB applauds reopening of Canada’s economy
by Canadian PlasticsThe Canadian Federation of Independent Business is expressing support for the reopening of Canada’s economic activity that began on Mary 4., but also calls for caution as employees return to work.
Canadian auto sales plunged in April, Scotiabank says
by Canadian PlasticsAnd while provinces will gradually start re-opening on varying timelines in May, Scotiabank expects auto sales to remain weak throughout the second quarter.
Ontario unveils sector guidelines for businesses ahead of reopening
by Canadian PlasticsThere are more than 60 labour guidelines businesses will need to follow, including ground markings for physical distancing and installing plexiglass barriers.
Quebec to reopen manufacturing, retail, and construction businesses
by Canadian PlasticsMost retail stores in the province will be able to reopen on May 4, while the province’s construction and manufacturing sectors will be allowed to start reopening on May 11.
Nearly one-third of Canadian companies seeing sales drop by 40%: StatCan
by Canadian PlasticsThe highest proportion of businesses reporting losses and layoffs in a StatCan survey were in the accommodation and food services sector, as well as retail.
Mexico to reopen auto factories
by Canadian PlasticsThe move follows a U.S. campaign to get Mexico to reopen the plants out of concern for the North American free trade zone’s supply chain.
USMCA trade pact to go into effect on July 1
by Canadian PlasticsThe date for the new U.S.-Mexico-Canada trade agreement is a month later than initially proposed, after automakers asked for more time because of COVID-19 difficulties.
Feds announce rent relief of 75% for small businesses affected by COVID-19
by Canadian PlasticsThe new program will provide forgivable loans to qualifying commercial property owners to cover 50 per cent of three monthly rent payments payable by eligible small business tenants experiencing financial hardship during April, May and June.
Canada-U.S. border to be closed for another 30 days
by Canadian PlasticsThe border was originally closed on March 21 because of the COVID-19 pandemic.
New Scotiabank support program for medium-sized and larger Canadian firms
by Canadian PlasticsThe EDC Business Credit Availability Program is structured as a one-year operating credit or cash flow term loan of up to $6.25 million, with 80% guaranteed by EDC.