Business, labour groups say Liberals’ COVID-19 wage subsidy too little to help

Business, labour groups say Liberals’ COVID-19 wage subsidy too little to help
OTTAWA — A growing number of business and labour groups are urging the federal Liberals to up their promised wage subsidy to help companies hit hard by COVID-19 keep people on their payrolls. The latest salvo came from the United Steelworkers union on Tuesday morning, around the same time the Canadian Federation of Independent Business panned the promise for not going far... Read More

People stuck at home due to virus turn to news programming

People stuck at home due to virus turn to news programming
NEW YORK — With millions of American homebound due to the coronavirus pandemic, there’s little surprise they’re curious about what’s going on in the world. News programs reached more people than they had in years and, in one case, notched its biggest average audience ever, the Nielsen company said. Two of the broadcast evening newscasts, which offer a cogent summary... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (12,571.08, up 1,342.59 points.) Bombardier Inc. (TSX:BBD.B). Industrials. Up one cent, or 2.33 per cent, to 44 cents on 15.4 million shares. Suncor Energy Inc. (TSX:SU). Energy. Up $2.01, or 13.04 per cent, to $17.42 on 13.2 million shares. Toronto-Dominion Bank. (TSX:TD). Financials. Up $6.61, or 13.41... Read More

North American stock markets roar back to life on hopes of stimulus, virus signs

North American stock markets roar back to life on hopes of stimulus, virus signs
TORONTO — North American stock markets roared back to life on hopes of a massive U.S. government stimulus package and positive data from Italy regarding the novel coronavirus outbreak. The S&P/TSX composite index closed up 1,342.59 points or almost 12 per cent at 12,571.08. In New York, the Dow Jones industrial average enjoyed its largest daily gain since 1933 by... Read More

Nearly 7,000 employees to depart WestJet as airlines continue to curb operations

Nearly 7,000 employees to depart WestJet as airlines continue to curb operations
MONTREAL — WestJet Airlines Ltd. says roughly half of its 14,000 employees will leave the company — some temporarily — due to the COVID-19 pandemic. The 6,900 departures comprise early retirements, resignations and both voluntary and involuntary leaves after WestJet asked staff to choose one of those options or reduce their hours or pay, said CEO Ed Sims. “This is devastating news for all... Read More

Dollarama, Walmart Canada boost employee pay amid COVID-19 outbreak

Dollarama, Walmart Canada boost employee pay amid COVID-19 outbreak
Two more retailers are joining other companies that have remained open during the COVID-19 pandemic in paying their employees more during the outbreak. “Our ability to provide everyday essentials to millions of Canadians is only made possible through the hard work of the Dollarama team working in our stores, in our warehouses, and in our distribution centre,” said Neil Rossy,... Read More

Bombardier furloughs 12,400 workers, halts plane and rail production in Canada

Bombardier furloughs 12,400 workers, halts plane and rail production in Canada
MONTREAL — Bombardier Inc. is temporarily halting production at its Canadian plants, sending 12,400 employees on unpaid leave as the plane maker suspends its 2020 financial forecast due to the COVID-19 pandemic. The company said Tuesday it is stopping all non-essential work in the country, including aircraft and rail production in Quebec — where 9,000 workers are heading home — and Ontario. The... Read More

Suncor cuts $1.5 billion from budget to cope with low oil prices, virus impact

Suncor cuts $1.5 billion from budget to cope with low oil prices, virus impact
CALGARY — Oilsands giant Suncor Energy Inc. is putting projects on hold and cutting its 2020 capital budget by 26 per cent to deal with lower oil prices linked to a market share battle between Saudi Arabia and Russia, as well as lower demand for fuel because of the COVID-19 pandemic. The Calgary-based producer, refiner and operator of Petro-Canada service stations is slashing its 2020 capital... Read More

Governments fight to curb COVID-19 and economic fallout of growing pandemic

Governments fight to curb COVID-19 and economic fallout of growing pandemic
TORONTO — The two-pronged battle to contain the spread of COVID-19 while inoculating the economy from the drastic fallout of the pandemic saw governments on Tuesday rush to try to ease concerns of hardship even as they tightened restrictions on people and businesses. With large swaths of normal life grinding to a halt, the federal government was expected to pass... Read More