Canadian Plastics

Category
Economy

News
April 29, 2020  

Quebec to reopen manufacturing, retail, and construction businesses

Most 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.

News
April 29, 2020  

Nearly one-third of Canadian companies seeing sales drop by 40%: StatCan

The highest proportion of businesses reporting losses and layoffs in a StatCan survey were in the accommodation and food services sector, as well as retail.

News
April 28, 2020  

Mexico to reopen auto factories

The 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.

News
April 27, 2020  

USMCA trade pact to go into effect on July 1

The 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.

News
April 24, 2020  

Feds announce rent relief of 75% for small businesses affected by COVID-19

The 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.

News
April 20, 2020  

Canada-U.S. border to be closed for another 30 days

The border was originally closed on March 21 because of the COVID-19 pandemic.

News
April 17, 2020  

New Scotiabank support program for medium-sized and larger Canadian firms

The 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.

News
April 17, 2020  

China’s economy contracts for the first time on record

For the first time since at least 1992, China’s economy contracted as the COVID-19 pandemic brought economic activity in the country to a halt.

News
April 15, 2020  

Global vehicle sales will drop 18% under extended COVID-19 lockdown scenario, report says

This forecast comes from a new report from market research firm IHS Markit.

News
April 14, 2020  

COVID-19 pandemic may cause worst economic downturn since the Great Depression, IMF says

As a result of the pandemic, IMF projects the global economy to contract sharply by –3 per cent in 2020,
much worse than during the 2008–09 financial crisis.

News
April 13, 2020  

Parliament adopts $73-billion wage subsidy bill

Called the Canada Emergency Wage Subsidy, the measure is designed to help companies avoid laying off employees during a pandemic that has led to many businesses shutting their doors.

News
April 9, 2020  

Conference Board of Canada predicts massive job losses ahead

The agency estimates that Canada could lose a cumulative 2.8 million jobs in March and April, which is nearly 15 per cent of total employment.

News
April 8, 2020  

Small businesses more optimistic in April, CFIB survey says

The small uptick is a sign that government intervention has had some effect during the COVID-19 pandemic, the Canadian Federation of Independent Business says, but it doesn’t signal a return to business as usual.

News
April 6, 2020  

Canada Emergency Response Benefit now open

Canadians who have lost their jobs due to the COVID-19 pandemic can now apply for the benefit at the government’s new website.

News
April 6, 2020  

Canadian Chamber of Commerce, StatCan partnering to create massive business conditions survey

The survey will examine issues like the impact that COVID-19 has had on businesses, changes that businesses have made to adapt to the ongoing situation, challenges they continue to face, and challenges they expect to face as the recovery begins.

News
April 6, 2020  

Ontario extends business closures to stop spread of COVID-19

The updated closure list now prohibits most construction projects.

News
April 3, 2020  

Moldmakers list their COVID-19 anxieties in new CAMM survey

The survey shows that employee anxiety, project cancellations or delays, employee protection, and declining sales are the biggest concerns about COVID-19 among respondents.

News
April 2, 2020  

Consulting firm Wood Mackenzie discusses coronavirus and the petrochemicals industry

Two immediate major COVID-19 shockwaves are linked to economic activity and feedstock pricing: a sudden freeze in economic activity, and volatile feedstock pricing following the oil price crash.

News
April 1, 2020  

European factory output plummets due to COVID-19 shutdown, report says

The IHS Markit manufacturing purchasing managers’ index for the eurozone also reports that Italy is enduring its sharpest contraction on record.

News
March 31, 2020  

Economic growth in January slowed to 0.1 per cent, StatsCan says

Reduced trade with China affected potential growth in January, the agency said, and the COVID-19 pandemic and a collapse in oil prices has hurt the economy since then.

News
March 31, 2020  

Tech community calls for swift action during COVID-19 crisis in open letter to Ontario government

More than 230 tech CEOs and innovation hubs are calling for the provincial government to maintain top talent and jobs threatened by the virus outbreak.

News
March 31, 2020  

Canadian auto sales face “tough year” in 2020, Scotiabank says

The outlook for Canadian auto sales has weakened substantially in the face of the COVID-19 outbreak and policy responses, a new report from the bank says.

News
March 30, 2020  

Feds offer new COVID-19 relief measures for small businesses

The federal government will cover 75 per cent of salaries for workers of qualifying small businesses affected by the COVID-19 pandemic.

News
March 26, 2020  

Upcoming webinar, April 1: Facing the COVID-19 challenge

The 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.

News
March 26, 2020  

Ontario introduces $17 billion COVID-19 aid package

The 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.

News
March 25, 2020  

Haitian Group reports “good” results amid “difficult year for the global economy” in 2019

The 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.

News
March 25, 2020  

COVID-19 drives small business confidence in Canada to record low, survey reports

The 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.

News
March 24, 2020  

Ontario, Quebec order all non-essential businesses to shut down

Both provinces will keep the orders in effect for at least two weeks, and both allow priority manufacturing to continue.

News
March 23, 2020  

Chemical and oil companies to slash capital spending, slowing investment wave

In 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.

News
March 20, 2020  

Half of Canada’s small firms report a drop in sales due to COVID-19, survey finds

A quarter of the respondents said they won’t survive a month with a drop in income of more than 50 per cent.

News
March 17, 2020  

Ontario declares state of emergency over coronavirus outbreak

During 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.

News
March 16, 2020  

Ontario announces job protection for workers during the COVID-19 outbreak

Ontario’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.