Netflix reduces video quality in Canada to lower internet bandwidth use

Netflix reduces video quality in Canada to lower internet bandwidth use
TORONTO — Netflix is lowering video quality for its subscribers in Canada as it attempts to reduce soaring demands on internet bandwidth. The streaming giant says it will introduce changes today that are designed to slash its data traffic by 25 per cent as internet service providers deal with a surge in user activity in the midst of the COVID-19 pandemic. The lower... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (13,371.17 , up 243.94 points.) Aurora Cannabis Inc. (TSX:ACB). Health care. Up 20 cents, or 18.87 per cent, to $1.26 on 27.5 million shares. Bombardier Inc. (TSX:BBD.B). Industrials. Up one cent, or two per cent, to 51 cents on 22.6 million shares. Suncor Energy Inc. (TSX:SU). Energy. Down $1.14, or... Read More

Major Quebec media companies cut costs as COVID-19 impacts advertising

Major Quebec media companies cut costs as COVID-19 impacts advertising
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. Cogeco Media, which operates 23 radio stations in Quebec and Ontario, said today it was laying off 130 people, representing 25 per cent of its workforce. The company says the decision is due to a drop in advertising revenue. Meanwhile Montreal’s... Read More

Lululemon withholds guidance for 2020 due to COVID-19 as Q4 profits rise

Lululemon withholds guidance for 2020 due to COVID-19 as Q4 profits rise
VANCOUVER — Lululemon Athletica Inc. says it is withholding its financial outlook for 2020 due to the impact of the COVID-19 pandemic. The retailer has temporarily shuttered all its stores in North America and Europe as well as Malaysia and New Zealand, along with its distribution center in Washington state. Lululemon says all but one of the nearly 40 stores that closed temporarily... Read More

Seabee gold mine in northern Saskatchewan suspended due to virus threat

Seabee gold mine in northern Saskatchewan suspended due to virus threat
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. Spokesman Michael McDonald says the mine employs about 360 staff on two shifts and they will continue to be paid during the shutdown. About 20 people from... Read More

TSX makes back a third of losses on first three-day rally since highs

TSX makes back a third of losses on first three-day rally since highs
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. The S&P/TSX composite index closed up 243.94 points or 1.8 per cent on Thursday at 13,371.17. In New York, the Dow Jones industrial average was up 1,351.62 points or 6.4 per cent at 21,552.17. The... Read More

Businesses welcome government relief measures but want more — and quickly

Businesses welcome government relief measures but want more — and quickly
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. Chief executive Anita Agrawal had already closed her two locations and was fretting about whether she would have to lay off staff, some who have worked for her for 20 years. Now,... Read More

Saputo Inc. sees demand shift from food service to retail amid COVID-19 pandemic

Saputo Inc. sees demand shift from food service to retail amid COVID-19 pandemic
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. “We’re really seeing a shift, moving away from food service more into retail,” said CEO Lino Saputo Thursday during a call with analysts to provide an update on the company’s operations through the... Read More

Airlines owe passengers vouchers—but not refunds—for cancelled flights: watchdog

Airlines owe passengers vouchers—but not refunds—for cancelled flights: watchdog
GATINEAU, Que. — The Canadian Transportation Agency says airlines are not required to refund passengers for flights cancelled due to the COVID-19 pandemic or other reasons outside an airline’s control. The transportation watchdog says current rules only oblige the airline to ensure passengers can complete their trip. Over the past month, airlines have cancelled routes and slashed capacity amid plunging travel... Read More