Thousands more people are expected to contract COVID-19 and hundreds will likely die in the coming week, according to government projections, despite the progress the country has made in fighting the pandemic. Canada's case rate is now doubling every 16 days rather than three to five days seen about three weeks ago, Dr. Theresa Tam, the country's top public health officer, said on Thursday.
HSBC Bank Canada reported a drop in its first-quarter profit compared with a year ago as it took a charge related to bad loans it expects due to the downturn in the economy. The bank says it earned a profit attributable to common shareholders of $54 million or 11 cents per share for the quarter ended March 31. That's compared with a profit of $158 million or 32 cents per share in the first three months of 2019.
Restaurants struggling to survive during the COVID-19 crisis have turned to take-out and delivery, but the fees charged by food-delivery companies are eating away their bottom line, some operators say. Physical distancing measures have decimated dine-in service, which accounts for most industry revenue, said Mark von Schellwitz, a vice-president of the non-profit Restaurants Canada.
With Canada's two most populous provinces poised to outline plans for a gradual return to normalcy, Prime Minister Justin Trudeau said Monday that Ottawa will help guide, but not dictate, how provinces and territories should start easing restrictions. Ontario and Quebec together account for more than 80 per cent of the country's COVID-19 cases.
Despite a surge in demand due to COVID-19, many distress centres across Canada are dangerously close to folding thanks to major declines in both volunteers and revenue. Stephanie MacKendrick, CEO of Crisis Services Canada, which runs the only national suicide-specific helpline in Canada, says her organization relies on a network of approximately 100 community distress centres across the country to field calls from people.
Conservative Leader Andrew Scheer laid out Monday the numerous lines of inquiry his party intends to follow this week as a modified version of a House of Commons sitting gets underway. They include the state of the nation's emergency supply stockpile, the mishmash of federal economic benefit programs that allow some to fall through the cracks and to what extent the minority Liberals are backstopping provincial efforts to reopen their economies, Scheer said.
