Air Canada revises refund policy amid growing anger over cancelled flights

Air Canada revises refund policy amid growing anger over cancelled flights
MONTREAL — Air Canada is revising its cancellation policy amid mounting customer frustration, offering travellers the option of a voucher with no expiry date or discount Aeroplan points if the airline cancels their flight due to the COVID-19 pandemic. The airline says the new policy — the previous one capped travel vouchers at 24 months — applies to non-refundable tickets issued up to the end of June, with... Read More

CAE foresees ‘major disruptions’ this quarter due to COVID-19 pandemic

CAE foresees ‘major disruptions’ this quarter due to COVID-19 pandemic
MONTREAL — Flight simulator maker CAE Inc. saw profits fall six per cent last quarter due to the impact of the COVID-19 pandemic — and the turbulence isn’t over. “As we look to the fiscal year ahead, we believe it will be a tale of two halves, with the first half of the year marked by sharply lower demand and major... Read More

Globe publisher says print advertising revenues headed for ‘accelerated decline’

Globe publisher says print advertising revenues headed for ‘accelerated decline’
TORONTO — Phillip Crawley, publisher of The Globe and Mail, is warning that already diminished print advertising revenues are headed for another shock as the impacts of COVID-19 ravage the newspaper industry. Crawley on Thursday urged the federal government to take greater “targeted support measures” to help publishers weather the decline as they continue to cover the viral pandemic. “The long-term outlook for... Read More

Dominion Diamond proposes transaction to exit CCAA status, reopen Ekati mine

Dominion Diamond proposes transaction to exit CCAA status, reopen Ekati mine
CALGARY — The owner of the Ekati diamond mine is proposing a transaction that would allow it to exit court protection from creditors, provide short-term operating funds and allow it to eventually restart the suspended mine. Dominion Diamond Mines ULC says it has signed a letter of intent with an affiliate of The Washington Companies under which an entity to be managed by Washington would buy its... Read More

S&P/TSX composite edges higher as U.S. stock markets fall; Loonie down

S&P/TSX composite edges higher as U.S. stock markets fall; Loonie down
TORONTO — Canada’s main stock index edged higher in early trading, as gains in the materials sector outweighed losses in the financial and energy sectors. The S&P/TSX composite index was up 4.57 points at 14,889.42. In New York, the Dow Jones industrial average was down 125.26 points at 24,348.86. The S&P 500 index was down 11.64 points at 2,936.87, while... Read More

China boosts spending for virus-hit economy, takes up HK law

China boosts spending for virus-hit economy, takes up HK law
BEIJING — China’s No. 2 leader on Friday promised higher spending to revive its pandemic-stricken economy and curb surging job losses but avoided launching a massive stimulus on the scale of the United States or Japan. Premier Li Keqiang told lawmakers Beijing would set no economic growth target, usually a closely watched feature of government plans, in order to focus... Read More

PM faces question: how will feds help ramp up COVID-19 testing, contact tracing

PM faces question: how will feds help ramp up COVID-19 testing, contact tracing
OTTAWA — Prime Minister Justin Trudeau will be under pressure today to detail how the federal government will help provinces massively scale up testing for COVID-19 as the country slowly begins to come back to life. Trudeau reiterated Thursday evening his offer of federal help on testing and contact tracing during his weekly conference call with premiers — repeating an offer he first made a... Read More