Monday morning briefing: Vehicle sales making a comeback
Ext. is honoured to be recognized as one of Canada’s Fastest Growing Companies by Canadian Business magazine. A little over a decade ago, we set out to create a marketing agency that could move in lockstep with financial services clients by becoming an extension of their team. It’s a promise that continues to resonate with our clients who increasingly trust us with more of their communication needs and solidified our reputation as the leading financial services marketing firm.
Today, we have offices in New York and Toronto to support our growing roster of clients ranging from start-up and fintech firms to many of the world’s largest banks, insurers and asset managers. We could not have accomplished our growth without the hard work and dedication of our exceptionally talented writers, designers and account managers.
Jillian Bannister, Co-Founder and CEO
Richard Heft, Co-Founder and President
Economic/industry news
The U.S. inflation rate was 1.4% in September: Inflation rate slows to 0.2% in September
U.S. retail sales posted strong growth in September: U.S. retail sales climb most since June, topping estimates
Growth of existing home sales slowed in September: Growth in Canadian home sales slows amid record-tight supply
BlackRock recommends more alternative investments for portfolios: Here’s how advisors should position portfolios now: BlackRock
What may be in store for the retail industry: The future of retail
Reasons for hope
Pharma companies continue their late-stage clinical trials: Pfizer, BioNTech COVID vaccine trial remains on track, CEO says
Halloween may still be a go, but safety rules must be followed: COVID-19 won’t scare off trick-or-treaters if safety rules followed: Health officers
Some skills employers are looking for: Making sure you always have a job
Entrepreneurship surging amid the pandemic: COVID recession spawning entrepreneurs in U.S. amid joblessness
Adapting your business
Finding and closing high-earners: High-earning prospects are easier to find than you think
How to test your crisis management plan: 3 ways to ensure your crisis management and communication plans will work
The challenges of getting advisors back to the office: Advisors struggle to reopen offices
The pandemic has created many lessons for entrepreneurs: 4 crisis-proofing lessons for small-business owners
Chart of the week: Vehicle sales making a comeback
In Canada, new motor vehicle sales were 172,000 in the month of August. This marked the fourth straight month of gains following the substantial fall that occurred earlier in the COVID-19 outbreak. Sales have been helped by concern about public transit, along with continued pent-up demand.
Vehicle sales are still down, however, compared to 2019. The year-over-year decline is not surprising given the financial uncertainty that households now face. COVID-19 may also be accelerating a secular trend of lower automotive sales, which is supported by a rising interest in bicycles and the ongoing success of Uber. Is this a short-term blip or a long-term trend? Let us know what you think.
Used with permission of Bloomberg Finance L.P.
News and notes (U.S.)
Hedge funds posted a small decline in September: Hedge fund industry down 0.65 per cent in September, says Backstop BarclayHedge
Interest in venture capital funds strong in 2020: Venture capital funds on track for record fundraising year
Savings rising, but so are health care costs: Americans saving more during pandemic, but sweating health-care costs
Mutual fund sales and performance over the past two weeks: Mutual funds scorecard: October 13 edition
News and notes (Canada)
Wealthsimple reaches a $1 billion valuation: Wealthsimple hits unicorn status with $114-million financing round
More money being spent online: Canadians spend more money and time online during COVID pandemic: StatCan
Should there be more urgency for central banks to create a digital currency?: BoC deputy: Pandemic means central banks must ‘move faster’ on digital currency plans
Gender diversification on boards: ISS to boost Canadian board diversity benchmarks