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National Business
Molson Coors expects Q2 drop in sales due to loss of bar and restaurant sales
Molson Coors Beverage Co. shares fell more than 10 per cent after the beer maker said it expects a challenging second quarter due to the COVID-19 pandemic. The company's shares fell $7.25, or 10.62 per cent, to $61.
Apr 30, 2020 1:39 PM
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Oil and gas drilling forecast revised to 49 year low as producers cut spending
CALGARY — The Petroleum Services Association of Canada has revised its 2020 Canadian drilling forecast to an almost 50-year record low of 3,100 oil and gas wells, a level not seen since 2,900 wells were drilled in 1972.
Apr 30, 2020 1:35 PM
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Whitecap Resources posts $2.1-billion loss, warns of 'involuntary' crude cuts
CALGARY — Oil producer Whitecap Resources Inc. says it is planning for "involuntary shut-ins" of production as North American crude storage levels threaten to exceed capacity and commodity prices remain at low levels.
Apr 30, 2020 12:39 PM
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Fed expands Main Street Lending Program for businesses
WASHINGTON — The Federal Reserve announced Thursday that it was expanding a major lending program to provide support for businesses struggling to cope with the economic disruptions caused by the coronavirus pandemic.
Apr 30, 2020 12:31 PM
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US mortgage rates at all-time lows; 30-year loan at 3.23%
WASHINGTON — Long-term mortgage rates tumbled to all-time lows this week as the economy and housing market continued to reel from the business and social shutdown spurred by the coronavirus pandemic.
Apr 30, 2020 12:10 PM
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Airports hammered by COVID struggle to survive; $2B in losses predicted
TORONTO — Clobbered by anti-pandemic measures that have stifled travel and grounded much of the world's commercial aviation, Canada's airports are predicting around $2 billion in lost revenues this year.
Apr 30, 2020 11:37 AM
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McDonald's says 25% of stores closed as 1Q sales fall
McDonald's says it has likely reached the trough of global restaurant closures due to COVID-19, with 25% still shuttered. But business has been slow to return as lockdown orders continue to disrupt consumers' routines.
Apr 30, 2020 11:35 AM
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Looking for car? Vehicle market likely to look very different due to pandemic
TORONTO — Motorists are advised to fasten their seatbelts for a very different spring car-buying season. In addition to complicating the shopping experience, the COVID-19 pandemic could have an impact on selection, price and financing, say experts.
Apr 30, 2020 11:22 AM
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Economic growth stalled in February ahead of pandemic-related downturn
OTTAWA — Economic growth in Canada stalled in February ahead of the collapse in March due to the COVID-19 pandemic, Statistics Canada said Thursday.
Apr 30, 2020 10:44 AM
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With European economy in record drop, central bank gives aid
FRANKFURT — The European Central Bank is stepping up its efforts to cushion the economy against a record downturn that the bank's president, Christine Lagarde, said was “of a magnitude and speed that are unprecedented in peacetime.
Apr 30, 2020 9:22 AM
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