BANGKOK - Asian shares started the week with fresh losses as countries reported surging numbers of infections from the coronavirus that has prompted shutdowns of travel and business in many parts of the world.
CALGARY - Budget cutting in response to the twin challenges of COVID-19 demand destruction and low oil prices mean the world's oil and gas industry will likely spend less on renewable energy going forward.
Stocks rallied this week as Washington acted to provide $2.2 trillion of relief to an economy shocked by the coronavirus outbreak, leaving some on Wall Street cautiously optimistic that the panicky selling that had gripped the market earlier may have come to an end.
Grace An nearly cried after the landlord for her downtown Toronto restaurant called with a compromise: pay half the roughly $5,000 rent in April and May, and pay back the other half over time when business, hopefully, returns to normal.
WASHINGTON - President Donald Trump signed an unprecedented $2.2 trillion economic rescue package into law after swift and near-unanimous action by Congress to support businesses, rush resources to overburdened health care providers and help struggling families during the deepening coronavir…
DETROIT - President Donald Trump issued an order Friday that seeks to force General Motors to produce ventilators for coronavirus patients under the Defence Production Act.
The Santa Fe Plaza is empty. So are the narrow streets of the adobe-laden historic district in the heart of Albuquerque. The ski lifts are idle, the galleries are shuttered, and the fate of the summer art market season is uncertain.
WASHINGTON - The head of the International Monetary Fund said Friday it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn.
MONTREAL - Air Canada's proposed acquisition of Transat AT Inc., which owns Air Transat, likely will hinder competition and result in less choice for Canadian travellers, the Competition Bureau says.
TORONTO - Canada's main stock index capped its first winning week since mid-February despite snapping a three-day rally as cases of COVID-19 continue to soar.
Wall Street closed lower Friday but still notched big gains for the week as investors held out hope that a $2 trillion rescue package will cushion businesses and households from the economic devastation being caused by the coronavirus.
CALGARY - Record low prices for oilsands crude could result in up to 20 per cent of Canada's thermal bitumen production being shut down over the next few months, according to analyst Matt Murphy of Tudor Pickering Holt & Co.
TORONTO - With the use of web-based video conferences proliferating during the COVID-19 crisis, cyber security experts warn they pose a threat as well as an opportunity in the age of telework.
OTTAWA - Canada's central bank made yet another unscheduled rate cut Friday to bring its key interest target down to a crisis-level low, and the federal government upped its financial lifeline to businesses in a two-pronged effort to further combat the economic shock from COVID-19.
TORONTO - Indigo Books & Music Inc. is laying off temporarily 5,200 of its retail employees starting today after deciding to keep its stores closed indefinitely during the COVID-19 outbreak.
TORONTO - Small and medium business owners and entrepreneurs got a boost from Prime Minister Justin Trudeau on Friday as he handed more out relief for companies grappling amid COVID-19.
AURORA, Ont. - Magna International Inc. has withdrawn its 2020 outlook because of the "high degree of business uncertainty" caused by the COVID-19 pandemic.
OTTAWA - Parliament's budget watchdog is projecting that the federal deficit for the coming fiscal year could be $112.7 billion, a jump of $89.5 billion from previous forecasts as government spending climbs to combat the economic fallout from COVID-19.
MONTREAL - Reitmans (Canada) Ltd. is laying off 90 per cent of its Canadian retail store workers and 30 per cent of its Montreal head office employees after closing stores amid the spread of COVID-19.
MONTREAL - Molson Coors Beverage Co. says it is withdrawing its financial outlook for the 2020 financial year and beyond due to uncertainty about the impacts of the ongoing COVID-19 outbreak.
MONTREAL - Quebecor Inc. says it has temporarily laid off 10 per cent of its workforce as it deals with the impact of COVID-19.
VANCOUVER - Boston Pizza International Inc. is temporarily laying off approximately half of its 192 corporate staff across its three offices in Canada.
MONTREAL - SNC-Lavalin Group Inc. is withdrawing its financial guidance for 2020 as it works to cut costs and manage its cash flow due the COVID-19 pandemic and its impact of the company's operations around the world.
TORONTO - Netflix is lowering video quality for its subscribers in Canada as it attempts to reduce soaring demands on internet bandwidth in the midst of the COVID-19 pandemic.
DUBAI, United Arab Emirates - The head of the United Nations told leaders of the world’s 20 major industrialized nations during an emergency virtual summit Thursday that "we are at war with a virus — and not winning it” despite dramatic measures by countries to seal their borders, shutter bu…
MONTREAL - Cirque du Soleil says it hasn't made a decision on steps it will take to stay afloat after cancelling all of its shows and laying off almost all of its employees due to the COVID-19 pandemic.
VANCOUVER - Athleisure retailer Lululemon Athletica Inc. declined to provide a financial outlook for its current fiscal year as the impact of the COVID-19 pandemic unfolds.
WASHINGTON - Nearly 3.3 million Americans applied for unemployment benefits last week — almost five times the previous record set in 1982 — amid a widespread economic shutdown caused by the coronavirus.
TORONTO - Canada's main stock index has made back about a third of its recent losses with the first three-day rally since hitting a record high in February.
OTTAWA - The newly created benefit for workers whose livelihoods are affected by COVID-19 may be a model for how the federal government helps unemployed Canadians in the future, Employment Minister Carla Qualtrough said Thursday.
Jacqui Birchall is hoping for a full refund from WestJet after it cancelled her flight from Puerto Vallarta to Vancouver as part of its major capacity reduction in response to the COVID-19 pandemic.
MONTREAL - Two major Quebec media companies are announcing big cost-cutting measures that they say are necessary to deal with the economic fallout from the COVID-19 pandemic.
TORONTO - The coronavirus outbreak is pushing some realtors to turn away all but the most desperate clients, while others are adopting extraordinary measures in an effort to help maintain social distancing and stem the spread of the pandemic.
OTTAWA - The federal government is asking banks and credit-card companies to lower interest rates for Canadians, many of whom are struggling financially because of the COVID-19 pandemic.
TORONTO - More than 230 leaders of technology companies and innovation hubs across the country are calling on the Ontario government for more help to weather the economic fallout of the COVID-19 pandemic.
TORONTO - When the federal government teased its $82-billion relief plan for Canadian businesses and workers impacted by COVID-19, Toronto jewelry manufacturer Jewels4Ever was anxious to hear more.
CALGARY - Canada's agriculture sector is warning of higher prices and potential food shortages if it isn't designated an essential service and allowed to do business as usual during the COVID-19 crisis.
VANCOUVER - SSR Mining Inc. says more than 300 workers will be affected by its decision to suspend operations at the Seabee gold mine in northern Saskatchewan until April 30 due to the threat of COVID-19.
Demand for dairy products at retail stores has spiked amid the COVID-19 outbreak while orders from food-service operators have fallen, said executives at dairy processor Saputo Inc.
OTTAWA - Canada Mortgage and Housing Corp. is expanding its insured mortgage purchase program to $150 billion as part of its response to the COVID-19 crisis.
WASHINGTON - The economy grew by a moderate 2.1% in the fourth quarter of last year, but many economists believe that will be the last positive growth seen for some time as the country endures a sharp contraction due to the coronavirus.
Speaking from his home in Ottawa, Prime Minister Justin Trudeau discusses the federal government's response to the ongoing COVID-19 (coronavirus) outbreak. The prime minister is in a 14-day period of self-isolation following confirmation that his wife, Sophie Grégoire Trudeau, has tested pos…