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Foodora files for insolvency as it prepares to close Canadian operations

Foodora files for insolvency as it prepares to close Canadian operations

TORONTO — Food delivery app Foodora has filed for insolvency as it prepares to close its Canadian operations in a couple of weeks.
Gildan suspends dividend, cuts executive pay after losing nearly US$100M in Q1

Gildan suspends dividend, cuts executive pay after losing nearly US$100M in Q1

MONTREAL — Gildan Activewear Inc. says it is suspending its quarterly dividend and cutting executive compensation after losing nearly US$100 million in its first quarter due to the global impact of the COVID-19 pandemic.
No short-term end to oil price slump hitting Alberta: premier

No short-term end to oil price slump hitting Alberta: premier

EDMONTON — Premier Jason Kenney says a global oil glut means Alberta's main industry will be dealing with low prices for a year or longer after the COVID-19 crisis abates.
Aimia CEO out as overhauled board charts new course, slashes payroll

Aimia CEO out as overhauled board charts new course, slashes payroll

MONTREAL — Aimia Inc. has replaced its CEO and shaken up its board in a sweeping move to reinvent itself as a holding company that will see it shed its rewards programs and the bulk of its staff.

Most actively traded companies on the TSX

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (15,228.11, up 429.82 points.) Bombardier Inc. (TSX:BBD.B). Industrials. Up five cents, or 11.63 per cent, to 48 cents on 24.
Toronto stock market soars to near eight-week high on surging energy sector

Toronto stock market soars to near eight-week high on surging energy sector

TORONTO — Canada's main stock index soared to a near eight-week high Wednesday as the energy sector surged despite producers posting big losses as they cut oil production amid low crude prices. The S&P/TSX composite index closed up 429.
A&W reports same-store sales down 4% due to COVID-19 pandemic

A&W reports same-store sales down 4% due to COVID-19 pandemic

VANCOUVER — A&W restaurant sales have fallen sharply since the COVID-19 pandemic started to grow in Canada in mid-March, according to the A&W Revenue Royalties Income Fund.
Economists agree: No quick rebound from recession is likely

Economists agree: No quick rebound from recession is likely

WASHINGTON — Devastated by the coronavirus, the U.S. economy is sinking. And the plunge is accelerating.
Boeing to cut 10% of work force as 1Q revenue, profit slide

Boeing to cut 10% of work force as 1Q revenue, profit slide

Boeing outlined plans Wednesday to cut 10% of its workforce, slow production of new planes and raise more cash to survive a downturn in business that started with the grounding of its bestselling jet and has accelerated with a deep slump in air trave

Ontario Energy Association calls for end to most hydro subsidies

TORONTO — The association representing Ontario's energy producers and distributors says the province should stop subsidizing the price of hydro and instead offer targeted help to customers who need it most.