CEOs launch initiative to boost Black representation on boards: A group of high-profile Bay Street executives is calling on Canadian businesses to use their economic and social clout to challenge anti-Black racism in Canada and to commit to increasing Black representation in corporate leadership positions. (Mark Rendell)
HBC issues bond offering to shore up finances: Department store chain HBC LP is expected to raise up to US$900-million from a bond sale, money that Canada’s oldest company will use to weather the store closings that came with the novel coronavirus pandemic. (Andrew Willis and Susan Krashinsky Robertson)
Are mortgage deferrals key to sustaining Canada’s financial stability through the pandemic? The Bank of Canada thinks so: As the Bank of Canada fretted over bloated household debts for the better part of the past decade, its biggest fear was that stretched-to-the-limit mortgage holders would collapse under the weight of the next major economic shock. (David Parkinson)
Fed warns pandemic will ‘weigh heavily’ on economic growth, path back to prosperity will be much slower: The U.S. Federal Reserve signalled on Wednesday that the path back to prosperity is likely to be slower than the White House and the stock market would prefer. (Ian McGugan)
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