North American stock markets up slightly to start June after two strong months

North American stock markets up slightly to start June after two strong months
TORONTO — North American stock markets followed two strong months of recovery by kicking off June slightly higher amid cautious optimism about economic reopenings. The S&P/TSX composite index closed up 43.38 points at 15,236.21 after rallying by more than 35 per cent since March’s lows. In New York, the Dow Jones industrial average was up 91.91 points at 25,475.02. The... Read More

How mobile phones could help trace the spread of COVID infections

How mobile phones could help trace the spread of COVID infections
TORONTO — As provinces begin to reopen their economies, there’s a movement afoot to use mobile phones to alert health authorities to new cases that could lead to future outbreaks. Health authorities say that containment of the pandemic will depend on quick identification and monitoring of people who have been in close contact with someone infected with the coronavirus, a process known as contact tracing. The conventional approach to... Read More

Linda Seymour named new president and chief executive of HSBC Canada

Linda Seymour named new president and chief executive of HSBC Canada
VANCOUVER — HSBC Canada says Linda Seymour has been appointed as the bank’s president and chief executive, effective Sept. 1. She will replace Sandra Stuart, who is retiring after five years as president and CEO of the bank in Canada and 40 years with HSBC. Seymour, who was also named group general manager of HSBC Holdings effective today, joined HSBC in... Read More

Trans Mountain reaches ‘key milestone’ as pipeline construction begins in B.C.

Trans Mountain reaches ‘key milestone’ as pipeline construction begins in B.C.
KAMLOOPS, B.C. — Trans Mountain says it has reached another “key milestone” in the project to triple capacity of a pipeline moving oil from the Edmonton area to port in Burnaby, B.C. A statement says construction on a seven-kilometre section of the line has begun in Kamloops. It says a crew of up to 50 is preparing the area, but the workforce will grow to about 600 during peak construction... Read More

Trudeau promises to speed $2 billion in funding for strapped cities

Trudeau promises to speed $2 billion in funding for strapped cities
OTTAWA — Prime Minister Justin Trudeau says the federal government is rushing $2.2 billion in expected infrastructure funding to Canada’s cities. He says sending gas-tax funds months sooner than planned should ease municipalities’ cashflow concerns, which is why the government is sending the money in one shot. Speaking outside his Ottawa residence, Trudeau says the money can be used for construction projects... Read More

Bombardier exits commercial jet sector with closure of US$550M CRJ deal

Bombardier exits commercial jet sector with closure of US$550M CRJ deal
MONTREAL — Bombardier Inc. has closed a deal to sell its regional jet program to Mitsubishi Heavy Industries Ltd. for US$550 million, cementing the plane maker’s departure from commercial aviation following a three-decade run. The sale of its CRJ aircraft series paves the way for Bombardier to focus on its one remaining income stream — private jets — as the... Read More

Ontario makes temporary change to layoff regulations to help businesses

Ontario makes temporary change to layoff regulations to help businesses
TORONTO — Ontario is temporarily amending its labour laws to help businesses avoid permanently laying off workers and paying out severance, which could send some into bankruptcy during the pandemic. The government is expected to announce today that it will amend the Employment Standards Act, which requires businesses to terminate employees who have been laid off for 13 weeks. The law then requires... Read More

Investment Canada review of Cineplex takeover by Cineworld extended to June 15

Investment Canada review of Cineplex takeover by Cineworld extended to June 15
TORONTO — Cineplex Inc. says the Investment Canada Act review of its deal to be acquired by Cineworld Group has been extended to June 15. The review period had been set to end today. The deadline to complete the $2.8-billion sale of the company to Cineworld is June 30. The deal is subject to several conditions including approval under the... Read More