Corporate Governance

Ontario offers loan of up to $500 million to lottery and gaming corporation
Ontario is extending a line of credit of up to $500 million to its lottery and gaming agency.
Manufacturing sales fell 9.2% in March as factories closed due to the pandemic
Canadian manufacturing sales posted their biggest percentage drop since the financial crisis in March and economists warned sales are expected to continue to fall in April as the COVID-19 pandemic brought the economy to a crawl.Royal Bank senior economist Nathan Janzen said Thursday that the economic data will also likely get significantly worse in April with containment measures in place for the entire month.“Beyond that, we could see some improvement in May already with social/distancing measures easing in spots, but the drop in activity in March and April is still likely to be staggering, and entirely unprecedented in modern measured economic data,'' Janzen wrote in a brief note.Statistics Canada reported Thursday manufacturing sales fell 9.2% to $50.8 billion in March, the lowest level since June 2016, as factories shut down due to the COVID-19 pandemic or faced sharply lower demand.The average estimate by economists was for a drop of 5.7%, according to financial markets data firm Refinitiv.In volumes terms, manufacturing sales fell 8.3%.Sales fell in 17 of 21 industries led by the transportation equipment industry which plunged 26.5% in March as Canadian auto assembly plants and several parts suppliers in North America cut production.

Ontario's new vaping regulations kick in July 1

C-stores across the province are preparing for new amendments to the Smoke-Free Ontario Act, which brings with it more restrictive rules for operators when it comes to the sale of vaping products.The following regulations come into effect July 1, 2020: The sale of flavoured vapour products will be restricted to specialty vape stores and licensed cannabis retail stores.
COVID-19 cleaning strategies: A Q&A with Dr. Andrew Landa

Canada’s car washes know a thing or two about making vehicles shine and look their best.
'Immense amount of pain' predicted for Canadian oilfield services sector

Canada's oilfield services sector is in for “an immense amount of pain'' over at least the next year thanks to low North American oil and gas exploration activity amid a worldwide glut of cheap crude, according to a report from CIBC.Drilling and well completion companies stand to suffer the most as producers will be reluctant to reverse cuts in spending and production linked to the COVID-19 pandemic and its affect on fuel demand, the analysts warn.“There is no way to sugarcoat it.
Shopify unveils new products aimed at entrepreneurs grappling with COVID-19

Entrepreneurs who are struggling to keep their businesses alive amid the demands of COVID-19 or feel underserved by the country's financial institutions are about to get a helping hand from Shopify Inc.
Canadian retail sales fell 10% in March, April expected to be worse

Statistics Canada says retail sales in Canada posted their biggest monthly decline on record in March and warned that the drop for April will eclipse that loss.The agency says retail sales fell 10.0% to $47.1 billion in March as non-essential businesses began to shut their doors mid-month due to the pandemic.The drop was in line with economists' expectations of 10 per cent, according to financial markets data firm Refinitiv.Statistics Canada also says a preliminary estimate for April indicates a 15.6% drop for the first full month of the pandemic.The March decline came as sales plunged at motor vehicle and parts dealers, clothing and clothing accessories stores and gasoline stations, while sales at grocery stores soared.Excluding motor vehicle and parts dealers, retail sales were down 0.4% for the month.
Plastics bans, environmental monitoring get short shrift during pandemic

In mid January the British Columbia government announced it was looking at a wide ban on single-use plastic grocery bags to put an end to a piecemeal, city-by-city approach to the problem of plastic pollution.
COVID-19 will have lasting effects on consumer behaviour: Accenture

Several underlying consumer trends have risen to prominence during the COVID-19 crisis, leading to a wave of new behaviours—from online shopping to buying local—that are likely to persist long after the pandemic is over, according to a new study from Accenture.
A clear set of guiding principles help Alimentation Couche-Tard navigate COVID-19 crisis

In a statement outlining its business stance in the wake of COVID-19, Alimentation Couche-Tard says it is adhering to a clear set of guiding principles as its business navigates the COVID-19 outbreak.“During these troubled times, Couche-Tard is committed to being part of the solution in the communities where we work and live.
Pandemic to push back new climate targets, plastics ban, Wilkinson says

Canada's national environment agenda is the latest thing to be upended by the COVID-19 pandemic, as plans for both beefing up national climate targets and banning some plastics are likely to be delayed.Environment Minister Jonathan Wilkinson told The Canadian Press this week that the government remains firmly committed to its environmental promises, which were a key part of the Liberal 2019 re-election campaign.
Retail tenants hopeful over federal relief plan, but landlords reluctant to join

Bill Pratt hasn't paid some $70,000 in rent for his restaurants in Atlantic Canada since April after having to shutter operations due to the COVID-19 pandemic and experiencing a “critical” sales drop.