Top Business Headlines
 

June 7, 2020

 
 
Top news
 
‘The recovery has begun’: Canada, U.S. swing to surprise job gains
 

JONATHAN HAYWARD/The Canadian Press

‘The recovery has begun’: Canada, U.S. swing to surprise job gains
 

Matt Lundy

 
Economics Reporter
Canada and the United States posted surprise gains in employment for May, a sign the North American economy is beginning to heal from the COVID-19 pandemic.

 
In Canada, the number of employed people rose by 289,600 last month as provinces began to reopen their economies, Statistics Canada said Friday, or strikingly better than a loss of 500,000 that economists had expected. The unemployment rate climbed to a record high of 13.7 per cent as more people rejoined the labour market in search of work.

 
 
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Editor's picks
 
For thousands of seniors, deferring pension means being denied emergency aid
 

Sean Kilpatrick/The Canadian Press

  For thousands of seniors, deferring pension means being denied emergency aid
 

Patrick Brethour

 
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WestJet breaks ranks with carriers to offer refunds to some customers
 

Jeff McIntosh/The Canadian Press

WestJet breaks ranks with carriers to offer refunds to some customers
 

Christopher Reynolds

 
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Bombardier cuts 2,500 aviation jobs as pandemic hammers business-jet market
 

David Becker/Reuters

Bombardier cuts 2,500 aviation jobs as pandemic hammers business-jet market
 

Eric Atkins

 
Transportation Reporter
 
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Latest posted news
 
  Study shows workplace bias comes early identifying high-potential employees
 
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  OECD and IEA call for an end to fossil fuel industry subsidies
 
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  Streetwise newsletter: Best reads of the week
 
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Opinion
 
Ottawa is tightening the rules for first-time home buyers – for their own good
 

Rob Carrick

 
Personal Finance Columnist
The club of people who can afford to buy a first home is getting smaller as a result of actions taken by the federal government’s housing specialists.

 
Kick the housing market while it’s down, will they? Yes, and kudos to Canada Mortgage and Housing Corp. for having the guts to do it. Tightening the standards for deciding who can afford a mortgage is the right thing to do in these uncertain times.

 
The changes, effective July 1, are really focused on home ownership, not home buying. Instead of raising the minimum down payment to 10 per cent from 5 per cent, as some feared, CMHC tightened the percentage of a buyer’s income that can go toward a mortgage and other debt.

 
 
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From energy and resources
 
Papua New Guinea accuses Barrick of plan to illegally export gold
 
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From financial services
 
  Bankers wonder if virtual roadshows are here to stay
 
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Globe Investor
 
  Short-sellers stay bearish as market claws back
 
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From economy
 
  U.S. economy adds 2.5 million jobs in May; unemployment rate drops to 13.3%
 
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From technology, telecom and media
 
Ottawa postpones auction of 5G spectrum due to pandemic
 
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From small business
 
  Report on Small Business Newsletter: Early uptake of commercial rent relief program is lower than expected
 
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From careers
 
Generation Z feeling the pressure to choose STEM careers
 
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In case you missed it
 
Work begins on Trans Mountain expansion in B.C.
 

Dennis Owen/The Globe and Mail

Work begins on Trans Mountain expansion in B.C.
 

Emma Graney

 
Energy reporter
 
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