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Pattie Lovett-Reid: Signs of Canada's economic recovery that give us hope – CTV News

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TORONTO —
COVID-19 has influenced what and where we buy goods even where live and work.

Prepare for a bumpy and uneven recovery, according to Bank of Canada Governor Tiff Macklem, but I’m not so sure Canadians are buying it.

Retail sales have fully recovered from the COVID-19 pandemic. We may be buying different things but we are buying. All you need to do is try to buy something online only to find it is out of stock and while there may not be a lot of cars driving to and from work yet there are plenty of delivery trucks roaring up and down streets.

In the recent May retail sales report, the 18.7% month over month gain in sales was impressive, with e-commerce sales comprising 8% of the total sales while up over the past year 112.7%. Retailers with a strong online presence are cashing in. Those that don’t have less odds of survival.

All provinces registered an increase in retail sales with Quebec and Ontario leading the charge with 10 of 11 sub-sectors higher with the only drag being food and beverage. Grocery stores have exceeded expectations since the beginning of the pandemic and continue to raise their outlooks going forward.

Public transit has taken it on the chin while motor vehicle sales soar. Less health risk and exposure in your private vehicle.

The Canadian real estate markets snapped back in June. National home sales according to the Canadian Real Estate Association jumped 63% month over month in June while sales are up 150% since April. Realtors have gotten creative with open houses and the slight pull-back in prices in some markets has encouraged buyers.

Adding to this, if you are even thinking about getting into the housing market, the Bank of Canada governor was pretty clear, “rates are very low and going to be very low for a long time.” It isn’t every day you get encouragement, almost a guarantee to go ahead and borrow money because we are in a low interest rate environment for a long time.

Working from home has taught us 1) we don’t all need to live in urban centres and 2) we can be highly productive working anywhere, anytime, and brick and mortar office towers don’t really matter as they once did. Employers have embraced flexibility in the workplace with many large corporations suggesting they aren’t in any rush to get employees back into the office.

However, some of the hardest-hit are small business owners — the real backbone of our economy. Gyms, coffee shops, dry cleaners and the list goes on. These small businesses worry about being in business next week. The government subsidies will help but many were barely making ends meet prior to the pandemic and the thought of more debt is staggering. The physical distancing has been vital for public safety but terrible for the entrepreneur that relies on social gatherings and foot traffic to make a living.

But let’s not lose hope, there is a lot of good out there. Communities, businesses and governments are coming together, corporations recognize flexibility in the workplace will become the norm and not an exception, people cherish their homes a little more and the desire is there to buy local.

However, through it all I still feel sad. I feel sad for the people who have lost their lives and the families impacted, I feel sad for people who lost their business, their job or their life savings. But we are resilient and we continue to support the Canadian economy and one another.

Let’s end on a positive: RBC announced today Canada United – a national movement to support local businesses across the country. A movement encouraging Canadians to show some local love by buying, dining and shopping local during the weekend of August 28 to 30. And when you view videos at GOCanadaUnited.ca, or like posts @GoCanadaUnited or use the hashtag #CanadaUnited, RBC will contribute 5 cents up to a maximum contribution of $2M to the Canada United Small Business Relief Fund.

In turn the Fund will provide Canadian small businesses with grants of up to $5,000 to cover expenses related to personal protective equipment , renovations to accommodate re-opening guidelines or improving e-commerce capabilities.

Canada, together we will get through this.

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Bad traffic, changed plans: Toronto braces for uncertainty of its Taylor Swift Era

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TORONTO – Will Taylor Swift bring chaos or do we all need to calm down?

It’s a question many Torontonians are asking this week as the city braces for the arrival of Swifties, the massive fan base of one of the world’s biggest pop stars.

Hundreds of thousands are expected to descend on the downtown core for the singer’s six concerts which kick off Thursday at the Rogers Centre and run until Nov. 23.

And while their arrival will be a boon to tourism dollars — the city estimates more than $282 million in economic impact — some worry it could worsen Toronto’s gridlock by clogging streets that already come to a standstill during rush hour.

Swift’s shows are set to collide with sports events at the nearby Scotiabank Arena, including a Raptors game on Friday and a Leafs game on Saturday.

Some residents and local businesses have already adjusted their plans to avoid the area and its planned road closures.

Aahil Dayani says he and some friends intended to throw a birthday bash for one of their pals until they realized it would overlap with the concerts.

“Something as simple as getting together and having dinner is now thrown out the window,” he said.

Dayani says the group rescheduled the gathering for after Swift leaves town. In the meantime, he plans to hunker down at his Toronto residence.

“Her coming into town has kind of changed up my social life,” he added.

“We’re pretty much just not doing anything.”

Max Sinclair, chief executive and founder of A.I. technology firm Ecomtent, suggested his employees avoid the company’s downtown offices on concert days, saying he doesn’t see the point in forcing people to endure potential traffic jams.

“It’s going to be less productive for us, and it’s going to be just a pain for everyone, so it’s easier to avoid it,” Sinclair said.

“We’re a hybrid company, so we can be flexible. It just makes sense.”

Swift’s concerts are the latest pop culture moment to draw attention to Toronto’s notoriously disastrous daily commute.

In June, One Direction singer Niall Horan uploaded a social media video of himself walking through traffic to reach the venue for his concert.

“Traffic’s too bad in Toronto, so we’re walking to the venue,” he wrote in the post.

Toronto Transit Commission spokesperson Stuart Green says the public agency has been working for more than a year on plans to ease the pressure of so many Swifties in one confined area.

“We are preparing for something that would be akin to maybe the Beatles coming in the ‘60s,” he said.

Dozens of buses and streetcars have been added to transit routes around the stadium, and the TTC has consulted the city on potential emergency scenarios.

Green will be part of a command centre operated by the City of Toronto and staffed by Toronto police leaders, emergency services and others who have handled massive gatherings including the Raptors’ NBA championship parade in 2019.

“There may be some who will say we’re over-preparing, and that’s fair,” Green said.

“But we know based on what’s happened in other places, better to be over-prepared than under-prepared.”

Metrolinx, the agency for Ontario’s GO Transit system, has also added extra trips and extended hours in some regions to accommodate fans looking to travel home.

A day before Swift’s first performance, the city began clearing out tents belonging to homeless people near the venue. The city said two people were offered space in a shelter.

“As the area around Rogers Centre is expected to receive a high volume of foot traffic in the coming days, this area has been prioritized for outreach work to ensure the safety of individuals in encampments, other residents, businesses and visitors — as is standard for large-scale events,” city spokesperson Russell Baker said in a statement.

Homeless advocate Diana Chan McNally questioned whether money and optics were behind the measure.

“People (in the area) are already in close proximity to concerts, sports games, and other events that generate massive amounts of traffic — that’s nothing new,” she said in a statement.

“If people were offered and willingly accepted a shelter space, free of coercion, I support that fully — that’s how it should happen.”

This report by The Canadian Press was first published Nov. 13, 2024.



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‘It’s literally incredible’: Swifties line up for merch ahead of Toronto concerts

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TORONTO – Hundreds of Taylor Swift fans lined up outside the gates of Toronto’s Rogers Centre Wednesday, with hopes of snagging some of the pop star’s merchandise on the eve of the first of her six sold-out shows in the city.

Swift is slated to perform at the venue from Thursday to Saturday, and the following week from Nov. 21 to Nov. 23, with concert merchandise available for sale on some non-show days.

Swifties were all smiles as they left the merch shop, their arms full of sweaters and posters bearing pictures of the star and her Eras Tour logo.

Among them was Zoe Haronitis, 22, who said she waited in line for about two hours to get $300 worth of merchandise, including some apparel for her friends.

Haronitis endured the autumn cold and the hefty price tag even though she hasn’t secured a concert ticket. She said she’s hunting down a resale ticket and plans to spend up to $600.

“I haven’t really budgeted anything,” Haronitis said. “I don’t care how much money I spent. That was kind of my mindset.”

The megastar’s merchandise costs up to $115 for a sweater, and $30 for tote bags and other accessories.

Rachel Renwick, 28, also waited a couple of hours in line for merchandise, but only spent about $70 after learning that a coveted blue sweater and a crewneck had been snatched up by other eager fans before she got to the shop. She had been prepared to spend much more, she said.

“The two prized items sold out. I think a lot more damage would have been done,” Renwick said, adding she’s still determined to buy a sweater at a later date.

Renwick estimated she’s spent about $500 in total on “all-things Eras Tour,” including her concert outfit and merchandise.

The long queue for Swift merch is just a snapshot of what the city will see in the coming days. It’s estimated that up to 500,000 visitors from outside Toronto will be in town during the concert period.

Tens of thousands more are also expected to attend Taylgate’24, an unofficial Swiftie fan event scheduled to be held at the nearby Metro Toronto Convention Centre.

Meanwhile, Destination Toronto has said it anticipates the economic impact of the Eras Tour could grow to $282 million as the money continues to circulate.

But for fans like Haronitis, the experience in Toronto comes down to the Swiftie community. Knowing that Swift is going to be in the city for six shows and seeing hundreds gather just for merchandise is “awesome,” she said.

Even though Haronitis hasn’t officially bought her ticket yet, she said she’s excited to see the megastar.

“It’s literally incredible.”

This report by The Canadian Press was first published Nov. 13, 2024.

The Canadian Press. All rights reserved.



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Via Rail seeks judicial review on CN’s speed restrictions

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OTTAWA – Via Rail is asking for a judicial review on the reasons why Canadian National Railway Co. has imposed speed restrictions on its new passenger trains.

The Crown corporation says it is seeking the review from the Federal Court after many attempts at dialogue with the company did not yield valid reasoning for the change.

It says the restrictions imposed last month are causing daily delays on Via Rail’s Québec City-Windsor corridor, affecting thousands of passengers and damaging Via Rail’s reputation with travellers.

CN says in a statement that it imposed the restrictions at rail crossings given the industry’s experience and known risks associated with similar trains.

The company says Via has asked the courts to weigh in even though Via has agreed to buy the equipment needed to permanently fix the issues.

Via said in October that no incidents at level crossings have been reported in the two years since it put 16 Siemens Venture trains into operation.

This report by The Canadian Press was first published Nov. 13, 2024.

Companies in this story: (TSX:CN)

The Canadian Press. All rights reserved.



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