WestJet cancels thousands of domestic flights through May as virus gashes sales

WestJet cancels thousands of domestic flights through May as virus gashes sales
CALGARY — WestJet Airlines Ltd. says it will cancel more than 4,000 domestic flights weekly in May as the COVID-19 pandemic continues to hammer the airline industry. The company says it will remove some 600 daily flights from its schedule between May 5 and June 4 — about 18,000 trips in total —due to “significantly reduced guest demand” during the crisis. The Calgary-based carrier... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (14,288.16, up 348.10 points.) StageZero Life Sciences Ltd. (TSX:SZLS). Health care. Unchanged at 13.5 cents on 25.9 million shares. Bombardier Inc. (TSX:BBD.B). Industrials. Up one cent, or 2.44 per cent, to 42 cents on 9.4 million shares. Cenovus Energy Inc. (TSX:CVE). Energy. Up 37 cents, or 9.92 per cent,... Read More

B.C. securities panel orders companies, founders to pay $37 million in fines

B.C. securities panel orders companies, founders to pay $37 million in fines
VANCOUVER — A group of companies and its founders have been fined nearly $37 million by a B.C. Securities Commission panel that says they misled investors, conducted unregistered trading and illegally sold securities. The panel says it ordered FS Financial Strategies and six other companies in B.C., Alberta and Ontario to pay $32.8 million for “making misrepresentations to hundreds of investors” as well as illegally... Read More

Investment fund assets down 10% in March as COVID-19 worries spread

Investment fund assets down 10% in March as COVID-19 worries spread
TORONTO — The Investment Funds Institute of Canada says fund holdings dropped by about 10 per cent in March from a month earlier, as investors worried about the economic impacts of the COVID-19 pandemic. The institute says mutual fund assets were down by $159.9 billion compared with February, to $1.45 trillion, while net redemptions totalled $14.1 billion compared with net sales of... Read More

Ticketmaster’s TicketWeb among portals selling access to cancelled concerts

Ticketmaster’s TicketWeb among portals selling access to cancelled concerts
TORONTO — Live concerts are cancelled in most parts of the country for the foreseeable future, and yet Ticketmaster and other Canadian ticket portals continue to sell access to upcoming events that aren’t happening. Several dozen concerts, including a DJ set with Andrew Rayel originally slated for Friday at Toronto’s Toybox Nightclub, are still available to purchase on Ticketweb, a portal owned by Ticketmaster.... Read More

Energy sector shutting down oil production as low crude oil prices persist

Energy sector shutting down oil production as low crude oil prices persist
Calgary-based oil and gas companies are continuing to reduce production, cut spending and trim costs as volatile oil prices remain stubbornly below profitable levels for most. Enerplus Corp. announced Wednesday it will cut another $25 million to take its 2020 capital budget to $300 million, leaving it at about 55 per cent of its original budget of $545 million. In an announcement two days after benchmark U.S.... Read More

Annual inflation rate cooled in March to 0.9 per cent as pandemic took hold

Annual inflation rate cooled in March to 0.9 per cent as pandemic took hold
OTTAWA — Statistics Canada reports the annual pace of inflation in March slowed to a pace last seen in 2015 as the economy was gripped by the COVID-19 pandemic. The agency says the consumer price index for March was up 0.9 per cent compared with a year ago. The reading compared with a year-over-year increase of 2.2 per cent in February. Economists... Read More

Greater Toronto Area home sales down 69 per cent mid-way through April

Greater Toronto Area home sales down 69 per cent mid-way through April
TORONTO — The Toronto Regional Real Estate Board says home sales were down 69 per cent in the first 17 days of April compared with a year ago as the COVID-19 outbreak put a chill on market activity. Board president Michael Collins says in an unusual mid-month update that uncertainty about jobs and the economy contributed to the decline, as did physical distancing... Read More