Skip to content

National Business

Suncor CEO predicts slow recovery for sector from pandemic demand crunch

Suncor CEO predicts slow recovery for sector from pandemic demand crunch

CALGARY — Consumer demand for fuel is growing slightly after a sudden decline due to measures to deal with the COVID-19 pandemic but the CEO of Suncor Energy Inc.
Barrick Gold removes suspended Papua New Guinea gold mine output from guidance

Barrick Gold removes suspended Papua New Guinea gold mine output from guidance

TORONTO — Barrick Gold Corp. has withdrawn production guidance for its Porgera gold mine in Papua New Guinea after suspending operations amid a dispute with the national government over an extension of its expired mining permit.
With factories dark, GM profit slumps 88%; 2Q likely worse

With factories dark, GM profit slumps 88%; 2Q likely worse

DETROIT — General Motors' first-quarter net income fell 88%, but it still managed to make $247 million despite the arrival of the global coronavirus pandemic. U.S. automakers suspended production in much of the world in late March.
Torstar reports $23.5-million loss as Q1 revenue falls in wake of COVID-19

Torstar reports $23.5-million loss as Q1 revenue falls in wake of COVID-19

TORONTO — Torstar Corp. lost $23.
ADP: More than 20 million jobs vanished in April

ADP: More than 20 million jobs vanished in April

BALTIMORE — U.S. businesses cut an unprecedented 20.2 million jobs in April, an epic collapse with coronavirus outbreak closing the offices, factories, schools, construction sites and stores that propel the U.S. economy.
HGTV, Food Network helped by coronavirus stay-at-homes

HGTV, Food Network helped by coronavirus stay-at-homes

NEW YORK — Americans stuck at home staring at fading furniture and wondering what to cook for dinner have been a boon for television networks like HGTV and the Food Network.
Norbord cuts dividend due to pandemic, reports Q1 profit up from year ago

Norbord cuts dividend due to pandemic, reports Q1 profit up from year ago

TORONTO — Norbord Inc. cut its dividend due to the uncertainty caused by the pandemic as it reported a profit in its first quarter, boosted by higher oriented strand board prices and lower raw material and energy prices.
Crescent Point reports $2.32-billion Q1 loss due to plunge in oil prices

Crescent Point reports $2.32-billion Q1 loss due to plunge in oil prices

CALGARY — Crescent Point Energy Corp. reported a $2.32-billion first-quarter loss as it took a non-cash charge of $3.56 billion due to the plunge in oil prices. The company says the loss amounted to $4.
EU forecasts 'recession of historic proportions' this year

EU forecasts 'recession of historic proportions' this year

BRUSSELS — The European Union predicted Wednesday “a recession of historic proportions this year” due to the impact of the coronavirus as it released its first official estimates of the damage the pandemic is inflicting on the bloc’s economy.
Family of dead crew member with virus sues Royal Caribbean

Family of dead crew member with virus sues Royal Caribbean

MIAMI — The family of a cruise crew member who died after testing positive for COVID-19 filed a lawsuit against Royal Caribbean Cruises on Tuesday saying the company failed to protect its employees as the pandemic ravaged sailings around the world.