MONTREAL - Bombardier Inc. will cut 2,500 workers from its plane-making division as demand for the company's main source of income — private jets — falls amid a recession and feeble travel demand.
OTTAWA - The federal government will delay a planned auction of 3,500-megahertz wireless spectrum by six months, a move that could affect how the Canadian telecom industry rolls out fifth-generation network services.
TORONTO - North American stock markets ended the week on fire following surprisingly positive jobs reports in Canada and the United States.
WASHINGTON - U.S. unemployment dropped unexpectedly in May to 13.3% as reopened businesses began recalling millions of workers faster than economists had predicted, triggering a big rally Friday on Wall Street and giving President Donald Trump something to boast about in his reelection bid.
As companies begin to think about a return of staff to their offices, some firms are looking at a more permanent shift to work-from-home through flexible arrangements or even shuttering some office spaces as the COVID-19 shutdown moves from weeks into months.
WestJet Airlines Ltd. has quietly changed its refund policy to allow some customers whose flights were cancelled due to the pandemic to recoup their cash.
WASHINGTON - The U.S. unemployment rate fell to 13.3% in May from 14.7%, and 2.5 million jobs were added — a surprisingly positive reading in the midst of a recession that has paralyzed the economy in the wake of the viral pandemic.
OTTAWA - Canada's national unemployment rate was 13.7 per cent in May. Here are the jobless rates last month by province (numbers from the previous month in brackets):
OTTAWA - The national unemployment rate was 13.7 per cent in May. Statistics Canada also released seasonally adjusted, three-month moving average unemployment rates for major cities. It cautions, however, that the figures may fluctuate widely because they are based on small statistical sampl…
The Ministry of Labour has issued a “requirement” and two workplace orders against Impala Canada in the wake of last week’s death of an underground mechanic at the company’s Lac Des Iles palladium mine near Thunder Bay.
TORONTO - Canadians looking to borrow money for a home purchase a home are in for some extra challenges after the Canada Mortgage and Housing Corporation announced changes to its lending standards on Thursday.
MONTREAL - Saputo Inc. believes the COVID-19 pandemic may present "great opportunities" for mergers and acquisitions, though travel restrictions present some difficulty in finalizing any possible deals, the chief executive said.
OTTAWA - A senior official at the Bank of Canada says the central bank will be paying close attention to what the post-pandemic economy can supply and what consumers demand.
Bombardier Inc. says it will temporarily lay off 196 employees working on regional transit services in the Greater Toronto Area due to a steep decline in ridership numbers amid the COVID-19 pandemic.
TORONTO - A cyberattack on the Chartered Professional Accountants of Canada website has affected the personal information of more than 329,000 members and stakeholders, the organization said.
Lucky Paras didn't have to live up to his name to get his money back from an airline. He just approached the problem from a different angle.
HALIFAX - Businesses such as bars, restaurants and barber shops are poised to reopen Friday across Nova Scotia, after being closed for nearly three months because of COVID-19 restrictions.
WASHINGTON - The U.S. trade deficit hit the highest level in eight months in April. Exports and imports both posted record monthly drops as the coronavirus pandemic smothered America's commerce with other countries.
OTTAWA - Canadian exports posted a record drop as they fell to their lowest level in more than a decade and the country's merchandise trade deficit in April swelled to more than double compared with March.
CALGARY - Former Bank of Canada governor Stephen Poloz has been appointed to the board of directors at pipeline company Enbridge Inc.
MONTREAL - Stingray Group Inc. swung to an $8.5-million loss in the fourth quarter of its fiscal year as radio revenues declined due to the initial impact of the COVID-19 pandemic.
MONTREAL - A shareholder advisory agency is urging Bombardier Inc. shareholders to vote against the company's approach to compensation over the severance package to former CEO Alain Bellemare that could reach $17.5 million.
TORONTO - North American stock markets set new three-month highs as investors again shrugged off risks as they gained more confidence about the economic recovery.
TORONTO - Home sales are showing signs of improvement in the Toronto real estate market, but economists say it's far too early to feel optimistic about the trajectory of a recovery from the devastating effects of the COVID-19 pandemic.
TORONTO - Canada Goose Holdings Inc. shares jumped more than 16 per cent Wednesday after the company beat analyst expectations for revenue in its most recent quarterly earnings and said the biggest impacts of the COVID-19 crisis seemed to be behind it.
Sean Liburd spent much of Tuesday night answering emails from customers, most looking for books to help them better understand the mass protests against police brutality in the United States and broader anti-racism movement that some are engaging with for the first time.
WASHINGTON - The U.S. services sector shrank for a second month in May as the coronavirus pandemic triggered shutdowns and layoffs around the country.
WASHINGTON - Eagles songwriter Don Henley urged Congress on Tuesday to “Take It to the Limit” to protect artists against online pirating, wading into a copyright fight pitting Hollywood and the recording industry against big tech platforms like Google’s YouTube.
TORONTO - Investor optimism about economic reopenings pushed North American stock markets, crude oil prices and the loonie to nearly three-month highs.
MONTREAL - Huawei Technologies Inc.'s ambitions to be a player in Canada's 5G network took a major hit Tuesday as two of the country's three largest telecom companies announced partnerships with the Chinese tech giant's European rivals.
FRANKFURT - The European Central Bank could soon expand its anti-pandemic stimulus program to more than a trillion euros, giving it more firepower to keep the virus crisis from sliding into a new financial crisis for the 19 countries that use the euro.
VANCOUVER - Home sales in the Greater Vancouver area continued their steep year-over-year drop last month amid confinement measures and physical distancing requirements related to the COVID-19 pandemic.
CAPE CANAVERAL, Fla. - The astronauts launched into orbit by SpaceX joined in the ringing of the opening bell for the Nasdaq on Tuesday to mark “a pivotal moment" for the space economy.
MONTREAL - Air Canada has raised $1.59 billion from share and debt offerings intended to offset some of the carrier's losses from the COVID-19 pandemic.
Federal safety investigators bypassed aviation regulators on Tuesday and urged leading helicopter manufacturers to install so-called black boxes that would help determine the cause of crashes such as the one that killed former NBA star Kobe Bryant.
MONTREAL - Molson Coors Beverage Co. will eliminate about 190 temporary and permanent jobs in Quebec by the end of 2021 following its move to a new brewery complex south of Montreal.
WASHINGTON - Nearly 26,000 nursing home residents have died from COVID-19, the government reported Monday, as federal officials demanded states carry out more inspections and vowed higher fines for facilities with poor infection control.
MONTREAL - Bombardier Inc. has completed the sale of its regional jet business to Mitsubishi Heavy Industries Ltd. for US$550 million, cementing the plane maker's departure from commercial aviation following a three-decade run.