Skip to content

National Business

GTA home sales plunge 67% in April as COVID-19 pandemic freezes real estate market

GTA home sales plunge 67% in April as COVID-19 pandemic freezes real estate market

TORONTO — Home sales in the Greater Toronto Area plunged 67 per cent in April as unprecedented COVID-19 social distancing measures and economic uncertainty affected sales and new listings, the Toronto Regional Real Estate Board reported Tuesday.
MEG Energy cuts capital spending plan again, reports $284M Q1 loss

MEG Energy cuts capital spending plan again, reports $284M Q1 loss

CALGARY — Shares in oilsands producer MEG Energy Corp. rose by as much as nearly 15 per cent on Tuesday amid strengthening oil prices after it reported it would cut its capital spending plan for a second time in two months.

US service sector shrinks; first time since Great Recession

WASHINGTON — The U.S. service sector shrank for the first time in a decade last month as the pandemic forced shutdowns and layoffs nationwide. The Institute for Supply Management said Tuesday that its service-sector index fell to 41.
Quebec-based Heroux-Devtek to cut 225 aerospace jobs due to drop in demand

Quebec-based Heroux-Devtek to cut 225 aerospace jobs due to drop in demand

LONGUEUIL, Que. — Heroux-Devtek Inc. says it will reduce its workforce by 10 per cent, or about 225 employees, due to falling demand in the commercial aerospace market due to the COVID-19 pandemic.
Statistics Canada says trade deficit grew to $1.4 billion in March

Statistics Canada says trade deficit grew to $1.4 billion in March

OTTAWA — Statistics Canada says the country's trade deficit grew to $1.4 billion in March as both exports and imports fell due to the COVID-19-related economic slowdown.
Thomson Reuters cuts revenue outlook due to disruptions caused by the pandemic

Thomson Reuters cuts revenue outlook due to disruptions caused by the pandemic

TORONTO — Thomson Reuters Corp. says it expects revenue to fall in the second quarter and is reducing its expectations for growth this year due to the disruptions caused by the COVID-19 pandemic.
Companies beef up COVID-19 measures with masks and temperature checks

Companies beef up COVID-19 measures with masks and temperature checks

TORONTO — When travellers board Air Canada flights, they will have more than their tickets checked.
California governor says some business may reopen this week

California governor says some business may reopen this week

YUBA CITY, Calif. — With more local governments moving ahead with their own plans for reopening, California Gov.
NDP questions health minister's knowledge of COVID-19 outbreak in Saskatchewan

NDP questions health minister's knowledge of COVID-19 outbreak in Saskatchewan

REGINA — Saskatchewan's Opposition on Monday questioned the flow of information from the government about a COVID-19 outbreak at a hospital just as the province was preparing to loosen restrictions intended to limit the spread of the illness.
Carnival Cruise Line plans to sail again starting in August

Carnival Cruise Line plans to sail again starting in August

Carnival Cruise Line said Monday that it plans to gradually resume cruising in North America in August, nearly five months after it halted operations due to the new coronavirus. Sailings will begin on Aug.