TORONTO — Five things to watch for in the Canadian business world in the coming week:
COVID-19 and the new normal
Thousands of people have already lost their jobs as non-essential businesses have shut down, while others like grocers look for ways to keep their doors open and meet the demand from shoppers stocking up. Businesses will be watching for what comes after Ottawa moved to shore up small businesses last week and the Bank of Canada cut its key interest rate target to 0.25 per cent.
Finance Minister Bill Morneau has promised more help would be announced soon for the oil and gas sector, which has been hit by record low prices for oilsands bitumen as Saudi Arabia and Russia flood world markets with cheap barrels. More details could be forthcoming this week.
Statistics Canada will release gross domestic product by industry figures for January on Tuesday. The reading will give a snapshot of how the economy was performing before the COVID-19 pandemic struck Canada.
Dollarama Inc. reports its fourth-quarter and full-year financial results on Wednesday. The retailer has been recognized as an essential business in Quebec and Ontario and has been working to keep its stores open for customers during the COVID-19 pandemic.
Teck Resources Ltd. holds a conference call to provide a QB2 project update and an annual business review. The update comes as the miner deals with the COVID-19 pandemic.
This report by The Canadian Press was first published March 22, 2020.
The Canadian Press