Skip to content

National Business

US mortgage rates at all-time lows; 30-year loan at 3.23%

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.
Airports hammered by COVID struggle to survive; $2B in losses predicted

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.
McDonald's says 25% of stores closed as 1Q sales fall

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.
Looking for car? Vehicle market likely to look very different due to pandemic

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.
Economic growth stalled in February ahead of pandemic-related downturn

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.
With European economy in record drop, central bank gives aid

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.
EPL's Saudi piracy concerns as Newcastle takeover assessed

EPL's Saudi piracy concerns as Newcastle takeover assessed

The English Premier League has to decide whether to approve Saudi Arabia's takeover of Newcastle while concerned that piracy of its broadcasts from the kingdom poses a “significant risk” to the competition's revenue.

Investment firm Raymond James Ltd. acquires Oak Trust Co.

TORONTO — Raymond James Ltd. has acquired Oak Trust Co., a privately held trust company based in London, Ont. Financial terms of the deal by the Canadian arm of investment dealer Raymond James Financial Inc. were not disclosed.
Horgan says details of plan to reopen B.C. during pandemic coming next week

Horgan says details of plan to reopen B.C. during pandemic coming next week

VICTORIA — Premier John Horgan says he will outline details next week about reopening British Columbia during the COVID-19 pandemic as workers at two additional poultry processing plants were reported to have tested positive for the virus.
Saskatchewan reopen plan won't start in two communities with COVID-19 outbreaks

Saskatchewan reopen plan won't start in two communities with COVID-19 outbreaks

REGINA — Saskatchewan Premier Scott Moe says he's confident in his government's plan to relax some restrictions around COVID-19 starting next month, despite two outbreaks of the illness and another death.