TSX ends three-day winning streak to start June despite rising crude

TSX ends three-day winning streak to start June despite rising crude
TORONTO — Canada’s main stock index ended a three-day winning streak despite crude oil futures closing at a three-month high. The S&P/TSX composite index ended the day down 47.24 points at 15,527.87. In New York, the Dow Jones industrial average was up 11.93 points at 26,281.82. The S&P 500 index was down 10.52 points at 3,112.35, while the Nasdaq composite was down... Read More

Saputo’s fourth quarter profits hit by COVID-related shift in consumer demand

Saputo’s fourth quarter profits hit by COVID-related shift in consumer demand
MONTREAL — Saputo Inc. saw earnings fall in its most recent quarter, missing analyst expectations, as the COVID-19 pandemic caused a shift in consumer demand late in the fourth quarter. The Montreal-based dairy processor says net earnings for the three-months ended March 31 totalled $88.7 million or 22 cents per share, compared with $124.2 million or 32 cents per diluted share... Read More

Special payments to seniors to arrive in early July, Liberals say

Special payments to seniors to arrive in early July, Liberals say
OTTAWA — Prime Minister Justin Trudeau says a special one-time payment for seniors will go out the week of July 6. The COVID-19-related aid will come in the form of $300 payments to the more than six million people who receive old-age security benefits, and an additional $200 for the 2.2 million who also receive the guaranteed income supplement. Seniors who already... Read More

Excitement, caution as bars and restaurants to reopen in Nova Scotia

Excitement, caution as bars and restaurants to reopen in Nova Scotia
HALIFAX — Nova Scotia bars and restaurants that have been closed for months because of COVID-19 restrictions will finally reopen Friday with a mix of optimism and concern. Brendan Doherty, co-owner of the Old Triangle Irish Alehouse in Halifax, says any excitement at welcoming back customers is tempered by the realization that it won’t be business as usual because of physical distancing... Read More

CPA Canada hit by cyberattack, affecting data of more than 329,000 stakeholders

CPA Canada hit by cyberattack, affecting data of more than 329,000 stakeholders
TORONTO — The Chartered Professional Accountants of Canada says a cyberattack on its website has affected the personal information of more than 329,000 members and stakeholders. The organization says the information includes names, addresses, emails and employer names, but that passwords and credit card numbers were protected by encryption. CPA Canada warns the data could be used in email phishing scams... Read More

European Central Bank nearly doubles pandemic support scheme

European Central Bank nearly doubles pandemic support scheme
FRANKFURT — The European Central Bank has boosted its pandemic emergency support program by an unexpectedly large 600 billion euros to 1.35 trillion euros ($1.5 trillion), adding to a range of efforts in Europe and around the world to help the economy weather the steep downturn caused by the virus outbreak. The ECB measures announced Thursday aim to keep affordable... Read More

N.L. reports rising debt, deficit; minister says federal help needed

N.L. reports rising debt, deficit; minister says federal help needed
ST. JOHN’S, N.L. — Newfoundland and Labrador’s financial picture looks increasingly bleak, and the province’s finance minister warns that help from Ottawa will be necessary to get through the challenging period ahead. The province is reporting a net debt of $14.2 billion and a deficit of more than $1.1 billion. That’s without accounting for cash from the federal-provincial agreement known as... Read More

Would-be passengers get around airline refund policies via credit card chargebacks

Would-be passengers get around airline refund policies via credit card chargebacks
Lucky Paras didn’t have to live up to his name to get his money back from an airline. He just approached the problem from a different angle. The 23-year-old University of Manitoba student had booked seats for himself and his girlfriend on a Swoop flight from Winnipeg to Las Vegas in May for a week-long trip with friends. But in... Read More

Former Bank of Canada governor Stephen Poloz joins Enbridge board of directors

Former Bank of Canada governor Stephen Poloz joins Enbridge board of directors
CALGARY — Former Bank of Canada governor Stephen Poloz has been appointed to the board of directors at pipeline company Enbridge Inc. Poloz retired as the head of the Canada’s central bank on Tuesday. Enbridge chair Greg Ebel says Poloz has extensive business and financial experience, as well as expertise in global economics and public policy. Poloz took over as... Read More