Five things to watch for in the Canadian business world in the coming week
Written by The Canadian Press on February 21, 2021
TORONTO — Five things to watch for in the Canadian business world in the coming week:
BMO and Scotiabank will kick off bank earnings season on Tuesday, followed by National Bank of Canada and RBC on Wednesday, and TD and CIBC on Thursday. Banking leaders said in January that an economic rebound is on the horizon, but that the short-term looks difficult and spending won’t truly pick up until the back half of 2021 or even 2022.
Bank of Canada governor Tiff Macklem is to speak online to Calgary Chamber of Commerce on Tuesday about how the global pandemic has affected the bank’s financial outlook. A recent survey by the central bank on consumer expectations showed that respondents believed they were less likely to find a new job if they lost their current one.
Extendicare Inc. will release its Q4 and 2020 results on Wednesday. The company, which owns or operates 71 long-term care facilities in Ontario, is subject to a proposed class action lawsuit related to its handling of the COVID-19 pandemic.
Loblaw Companies Limited will release its Q4 2020 results on Thursday. The grocery store operator is one of 12 companies participating in a pilot with the University of Toronto’s Creative Destruction Lab to experiment with rapid antigen tests to screen staff for COVID-19.
Quebecor will hold a call to discuss its Q4 and full-year 2020 results on Thursday. CEO Pierre Karl Peladeau has signalled that he is still interested in acquiring Transat AT from his personal investment company after Air Canada said it will not allow more time for it’s takeover of the airline to go through.
This report by The Canadian Press was first published Feb. 21, 2021.
The Canadian Press