Lockdown a ‘multi-layered crisis for Canada,’ IMF chief economist says: Seven weeks ago, Gita Gopinath, the International Monetary Fund’s chief economist, told the world to brace for “the worst recession since the Great Depression.” This grim assessment came as the IMF issued a World Economic Outlook report that projected a 3-per-cent drop in global gross domestic product this year, dwarfing the 2009 financial crisis – a forecast that Ms. Gopinath herself described as “pretty dire.” (David Parkinson)
Vancouver kidney drug developer Chinook Therapeutics seeks Nasdaq listing through merger with U.S. biotech company: For the second time in a week a Canadian drug developer has unveiled plans to list publicly on Nasdaq, the bellwether exchange for biotech companies. (Sean Silcoff)
Scotiabank names Sumit Malhotra as new CFO of Canadian banking: The retail banking arm of Bank of Nova Scotia has promoted equity research analyst Sumit Malhotra to be its new chief financial officer. (James Bradshaw)
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