Monday morning briefing: Will Shopify rise above them all?

Leading your business out of the COVID-19 crisis. Helping businesses calculate the wage subsidy. The environment has benefited from widespread business shutdowns. And much more in this week’s briefing.

Economic/industry news

Canada’s inflation rate falls to 0.9%: Inflation in Canada slows to lowest since 2015 on oil glut

Could COVID-19 change capitalism?: Leon Cooperman says the coronavirus crisis will change capitalism forever and taxes have to go up

Fitch expects the global economy to contract by 3.9% this year: Global economy takes harder hit: Fitch

COVID-19 could force change in the wealth management industry: We are in the midst of a ‘total reboot’ of wealth management

Prices for WTI crude went negative last week: Covid-19 cripples demand for oil

ESG investments may gain even more interest: COVID-19 will boost interest in ESG investing: Nuveen

Reasons for hope

60 uplifting stories you need to know: 60 positive news stories you may have missed during the coronavirus outbreak

Helping the families of front-line workers who have lost their lives: Fund to help the survivors of workers who die fighting COVID-19

How to help support COVID-19 relief efforts: Giving in the time of COVID-19

The environment has benefited from widespread business shutdowns: The surprise emerging from the pandemic

Assisting your clients

The increased importance of video conferencing: Zooming in on the remote workplace

Leading your business out of the COVID-19 crisis: Five keys to the decisive action you need to accelerate out of COVID-19

A look at how financial advisors can grow their business amid COVID-19: 3 ways to maintain and grow your financial advisory practice during the coronavirus crisis

Setting up bank branches post COVID-19: Retail banking reboot: How COVID will force branch changes for safety

Handling clients while in self-isolation (video): How advisors can manage their business in self-isolation

Brands should adapt to a new reality: Want to save your brand? Adapt now

Chart of the week

Last week, Shopify surpassed The Toronto-Dominion Bank to become the second-largest company in Canada. The company’s market capitalization passed $100 billion. The share price for the e-commerce platform has already risen approximately 69% so far in 2020, and the company’s website has seen a strong uptick in traffic since people began to stay home. Can Shopify surpass Royal Bank of Canada as the largest company in Canada in 2020? Let us know what you think.

Used with permission of Bloomberg Finance L.P.

News and notes (U.S.)

Secondary market trading for private equity has slowed: Trading of private equity stakes will plummet this year

Tax benefits from the CARES Act: How the CARES Act impacts your clients’ taxes

Fidelity launches eight new thematic funds: Fidelity launches thematic funds with time-based fee discounts

Morningstar to purchase remaining 60% of Sustainalytics: Morningstar to take full control of Sustainalytics

News and notes (Canada)

CI Financial takes a position in Cabana Group: CI Financial acquires strategic interest in Cabana Group

Helping businesses calculate the wage subsidy: CRA launches wage subsidy calculator for employers

It was a tough market environment for hedge funds in Canada: Hedge fund wipeout in Canada leaves only 5 gainers in Q1

Mutual fund assets under management fell 10% in March: Mutual funds, ETFs lose assets in March

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