Category
Economy
Upcoming webinar, April 1: Facing the COVID-19 challenge
by Canadian PlasticsThe webinar brings together Steve Loftus, president of Innovative Automation, and Dennis Darby, president and CEO of Canadian Manufacturers and Exporters, to share COVID-19 strategies.
Ontario introduces $17 billion COVID-19 aid package
by Canadian PlasticsThe plan includes $3.7 billion in direct support for people and job protection measures, $3.3 billion in additional health-care spending, and $10 billion in deferred taxes and other measures largely designed to keep businesses afloat.
Haitian Group reports “good” results amid “difficult year for the global economy” in 2019
by Canadian PlasticsThe China-based injection molding machine maker recorded an overall sales decrease of 9.6% last year compared to 2018, but still sold more than 32,000 units for the year ending Dec. 31, 2019.
COVID-19 drives small business confidence in Canada to record low, survey reports
by Canadian PlasticsThe Business Barometer Index is at a record low 30.8, a new Canadian Federation of Independent Business survey found, well under the previous lows near 39 recorded in both the 2008 and 1990 recessions.
Ontario, Quebec order all non-essential businesses to shut down
by Canadian PlasticsBoth provinces will keep the orders in effect for at least two weeks, and both allow priority manufacturing to continue.
Chemical and oil companies to slash capital spending, slowing investment wave
by Joseph Chang, Global Editor, ICIS Chemical BusinessIn the wake of the coronavirus and collapse in crude oil prices, chemical, oil and gas, and midstream companies will all slash capital spending for growth projects to preserve cash.
Half of Canada’s small firms report a drop in sales due to COVID-19, survey finds
by Canadian PlasticsA quarter of the respondents said they won’t survive a month with a drop in income of more than 50 per cent.
Ontario declares state of emergency over coronavirus outbreak
by Canadian PlasticsDuring a March 17 public announcement, Premier Ford emphasized that the emergency declaration is not a provincial shut down, and that the majority of businesses will not be affected by the order.
Ontario announces job protection for workers during the COVID-19 outbreak
by Canadian PlasticsOntario’s provincial government will introduce legislation that, if passed, would immediately provide job-protected leave to employees in isolation or quarantine due to COVID-19, or those who need to be away from work to care for children because of school or day care closures.
Canada closing border to most non-residents, exempts U.S. citizens
by Canadian PlasticsThe restrictions come into effect March 18, and do not apply to Americans due to the many close connections bewteen Canada and the U.S.
Flexible packaging demand in Asia hit by sluggish regional economy, report says
by Canadian PlasticsAccording to Wood Mackenzie’s report, ‘Flexible Packaging Asia Supply Demand Report’, the region’s largest markets – China and India – experienced significant disruptions in 2019.
Wacker to cut 1,000 jobs in cost-saving measure
by Canadian PlasticsThe Germany-based chemical maker said the job cuts will affect its administrative departments and the “indirect, non-operational functions” of its business divisions
Plastics machinery shipments “stayed low” in 2019, industry association says
by Canadian PlasticsDespite a fourth quarter uptick, weak business investment spending was due to trade and tariff uncertainties and overall weaker manufacturing activity, the Plastics Industry Association’s Committee on Equipment Statistics said.
Trudeau tells U.S. lawmakers that USMCA bill will pass Commons
by Canadian PlasticsPresident Donald Trump signed the three-nation pact last month and Mexico ratified it last summer.
Thin wall packaging industry is globally fragmented but gaining on aluminium and glass, report says
by Canadian PlasticsThin wall packaging accounts for 12 per cent of the global packaging production, the report from AMI Consulting concludes, equivalent to 18 million tonnes.
Small businesses need better access to immigration system to address labour shortages, report says
by Canadian PlasticsThe report by the Canadian Federation of Independent Business says that the biggest issues are a mismatch between the jobs small businesses need filled and the skills-level of immigrants, and the complicated process of bringing in and retaining foreign workers.
Canadian auto sales estimated as being “relatively flat” in January, report says
by Canadian PlasticsIn the U.S., meanwhile, auto sales contracted modestly in January, the report from Scotiabank says.
Canadian auto sales “disappointed” in 2019, report says
by Canadian PlasticsThis marks a second consecutive year of auto sales declines following the 2017 high, a new report from Scotiabank says, and auto sales are in for another bumpy ride in 2020.
U.S. Senate passes new North American trade deal
by Canadian PlasticsAfter President Trump gives his signature to the three-nation pact, it needs only Canada’s approval to take effect.
U.S., China sign “phase one” of trade deal
by Canadian PlasticsThe U.S.-based Plastics Industry Association praises the signing as a “step in the right direction”.