Best way to bail out airlines hit by the coronavirus impact on their business is still up in the air

Policymakers around the world are grappling with the question of how to save their airline industries as travel grinds to a halt in the face of the novel coronavirus pandemic.While there is consensus that some kind of assistance will be required in Canada, where Air Canada has already announced a temporary layoff of workers and both it and WestJet have grounded international routes, the form...

Walmart to Hire 150K Workers, Offer $550 Million in Bonuses

Walmart will hire 150,000 workers to meet rising demand during the Chinese coronavirus pandemic, the company said Thursday. “As part of responding to the current environment, Walmart is also hiring 150,000 new associates through the end of May to work in stores, clubs, distribution centers and fulfillment centers,” the press release read. At first, the positions will be temporary but many...

How the coronavirus could wreak havoc on the global supply chain

Decades of globalization have created supply chains so deeply interconnected that a shock event like the coronavirus is now harder to control and could have a dramatic ripple effect on global commerce, economists are warning.“We tend to think about the economy as countries selling to countries. But the reality of business today is that companies get their parts from other companies, and sell...

U.S.-China pact signals global trade progress, but Poloz says it’s uncertain if Canada will benefit

Bank of Canada Governor Stephen Poloz said it’s too early to tell whether recent improvements on the global trade front will lead to stronger trade and investment.In opening remarks he gave in Vancouver ahead of a “fireside chat” interview, Poloz said it “remains to be seen” how Canadian business will respond to the preliminary U.S.-China trade pact. The implications for Canada are...

Stephen Poloz to step down: How Canada’s top banker went from folksy obscurity to steady hand

OTTAWA — Outgoing governor Stephen Poloz once joked that, after being chosen to succeed Mark Carney as head of the Bank of Canada in 2013, he was received much like the guy who replaced Wayne Gretzky. That is to say: nobody actually remembers the guy who replaced The Great One.Poloz was plucked from relative obscurity as head of Export Development Canada and, despite being on the shortlist of...

Bank of Canada’s Stephen Poloz: Six candidates to be the next governor

Now that Stephen Poloz has announced he will step down as Bank of Canada Governor after his seven-year term ends in June 2020, attention turns to the possible candidates who might replace him. Here are six possibilities.The FavouriteCarolyn Wilkins, senior deputy governor, Bank of Canada Carolyn Wilkins, senior deputy governor, Bank of Canada David Kawai/Bloomberg Hometown: Peterborough,...