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What happened in the economy in 2020 – Yahoo Canada Finance

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The Canadian Press

From the camera rolls of American phones, glimpses of 2020

A year like no other: Americans shambled through it, doing the best they could under circumstances that were uneven at best — and sometimes downright punishing.
As they endured, here and there they pulled out their phones and did what so many people do these days: They snapped photos of the world around them.
Snapshots of 2020. We all have them. And behind some are the stories of an era of pandemic and polarization and progress and upheaval and daily life — the visual representations of the lives people experienced and the moments they captured.
Associated Press reporters went back to some of the people they interviewed during the news events of the past year and asked a straightforward question: What image on your phone’s camera roll tells YOUR story of 2020?
For the next three days, we are sharing some of their answers in photographs and words, adding new ones each day.
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DALE TODD, IOWA
The Aug. 10 derecho that hammered Cedar Rapids, Iowa, with winds up to 140 mph severely damaged tens of thousands of homes and businesses and devastated the community’s tree canopy.
Much of the city of 130,000 people was without electricity for a week or longer. “It feels like we got kicked in the teeth pretty good,” city councillor Dale Todd says.
But Todd says the lack of power and air conditioning caused something “sort of magical” to happen: Once-distant neighbours came together to help as the city started a massive effort to clear debris.
Todd’s family and neighbours gathered every night for community meals, at first featuring meats that had to be used or would spoil. They talked about their days and looked at the stars from Todd’s backyard without distractions from cellphones or television.
In this photo, Todd’s wife, Sara, fixes the mask of their 21-year-old son, Adam, who has severe epilepsy. Todd calls the photo a reminder of the “powerful sense of community that evolved.”
“That is what is going to get us through this pandemic, through this next year with the economy,” he says, “and hopefully it can be a model for how we rebuild our politics and sense of democracy.”
— By Ryan Foley
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RUTH CABALLERO, NEW YORK
When home health nurse Ruth Caballero looks at an April photo of her wearing her full kit of pandemic protective gear, she sees a feeling: “how scared I was.”
Covered in a surgical gown, face shield, plastic cap and two layers of masks and gloves, she was heading into a New York City apartment to see one of her first coronavirus patients, just released from a hospital.
“I remember putting all of that on and saying to myself, ‘Please, let me be able to be as effective medically to help this patient as much as I can. And please allow me to stay COVID-negative,’” recalls Caballero, who works for the Visiting Nurse Service of New York.
Moments later, Caballero came face-to-face with the ravages of COVID-19, meeting a tremendously weakened patient who asked: “Nurse, did they send me home to die?”
“No, they sent you home to live,” Caballero remembers saying. “And we’re going to fight this together.”
Caballero’s cellphone photo is a portrait, one of many, of New York City’s fearsome battle with the coronavirus. During an early April peak, it was blamed for over 750 deaths a day in the city alone. Still, Caballero glimpses more than those desperate times when she looks at that picture.
She also thinks of how different she felt two or three months later, as that first surge subsided, protective equipment shortages eased and she gained experience caring for coronavirus patients — and seeing them get better.
By then, “I looked forward to being able to provide them with nursing care,” says Caballero, who now has worked with more than 50 COVID-19 patients. “I’m not afraid,” she says. “Whatever I can do to help them recover, it is one of my greatest joys.”
— By Jennifer Peltz
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LIN-MANUEL MIRANDA, NEW YORK
Lin-Manuel Miranda already wears plenty of hats: He’s a Broadway playwright and producer, singer, songwriter, actor, rapper and composer.
But at the beginning of 2020, he was set to add a new title to his resume: film director. Until the coronavirus pandemic changed his plans, that is. Netflix had to shut down production of his directorial debut, the musical drama “Tick, Tick… Boom!,” earlier this year after only eight days of shooting.
“We started back up again in September. We wrapped just before Thanksgiving. And I’m incredibly grateful and proud to say that we were able to finish filming with no one getting sick, no delays,” Miranda says.
With wild hair and eyes wide open, the entertainer — in a face mask and face shield — took a selfie on the New York set of the film, which stars Andrew Garfield and Vanessa Hudgens. It will be released next year.
“The picture you’re seeing is me at the end of the day of our most complicated musical sequence. … So that’s why my hair is literally standing straight out of pure exhaustion,” he says.
“We really kind of learned a new way of filmmaking,” says Miranda, who this year released the 2016 filmed version of his Broadway musical “Hamilton” on Disney+ as well as “We Are Freestyle Love Supreme,” the Hulu documentary highlighting his improv skills. “It was a lot on top of what is already a hard gig, but it also made finishing it all the sweeter.”
— By Mesfin Fekadu, AP music writer
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ADAM RAMMEL, OHIO
Adam Rammel enjoyed seeing a full house at his brewpub, Brewfontaine, and had high hopes for his second location next door, the Syndicate. But for three months, from March 15 to June 5, the Bellefontaine, Ohio, restaurants were closed to indoor diners and limited to takeout and delivery. Rammel can’t shake the image of upside-down chairs on tables in an empty dining room.
Social distancing and customer anxiety have reduced the restaurants’ Friday and Saturday night crowds from an expected 130 people to 60 at best. With winter here, Rammel and his co-owners have given up on serving customers outdoors. Like other restaurateurs, he hopes the widespread availability of a coronavirus vaccine will bring back the crowds.
Asked how he’s been able to get through more than nine months of anxiety, Rammel said he’s been helped by “an amazing support system with partners, including my family. Trying to remain positive. And bourbon. Lots of bourbon.”
— By Joyce Rosenberg, AP business writer

The Associated Press

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Economy

S&P/TSX composite gains almost 100 points, U.S. stock markets also higher

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TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.

The S&P/TSX composite index closed up 93.51 points at 23,568.65.

In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.

The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.

The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.

The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.

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

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

Statistics Canada reports wholesale sales higher in July

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OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.

The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.

The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.

The personal and household goods subsector fell 2.5 per cent to $12.1 billion.

In volume terms, overall wholesale sales rose 0.5 per cent in July.

Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.

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

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S&P/TSX composite up more than 150 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 172.18 points at 23,383.35.

In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.

The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.

The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.

The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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