The Canadian Press
The latest news on the COVID-19 global pandemic (all times Eastern):8:45 a.m.
A new survey suggests half of Canada’s small businesses have already seen a drop in sales due to the economic effects of COVID-19.
The survey conducted by the Canadian Federation of Independent Business also says four in 10 of those affected businesses are also reporting a drop of more than 25 per cent.
The CFIB survey found the sectors most negatively affected were hospitality, arts and recreation, retail and personal services.
It says 43 per cent have reduced hours for staff and 20 per cent have started temporary layoffs.
Thirty-eight per cent say they have experienced supply chain issues.
Ontario Premier Doug Ford is declaring a state of emergency in response to the COVID-19 pandemic.
The state of emergency prohibits organized public events of 50 or more people in Ontario until March 31.
Effective immediately, all public libraries, private schools, licensed child daycares, theatres, cinemas and other public venues in the province must close.
All bars and restaurants must close except to provide takeout food and delivery.
Essential services such as grocery stores and pharmacies will continue to operate.
Canadian Imperial Bank Of Commerce is changing the hours at its bank branches and temporarily closing some that do not offer over-the-counter cash and banking services.
The bank says 816 of its locations will remain open, but operate under modified hours, while 206 will temporarily close tomorrow in an effort to help slow the spread of COVID-19.
CIBC says any employee affected by the temporary changes will continue to receive their full pay.
The bank is also introducing assistance for clients impacted by job loss or other circumstances and urged those that need help to contact the bank.