Skip to content

National Business

Calfrac Well Services cuts deepen to 70% in Canada, U.S. due to low oil prices

CALGARY — Calfrac Well Services Ltd. says it has now cut 70 per cent of its North American staff as demand for its hydraulic fracturing and other well completion services continues to fall in view of low oil prices.
Prime minister of Papua New Guinea threatens to take over Barrick gold mine

Prime minister of Papua New Guinea threatens to take over Barrick gold mine

TORONTO — The prime minister of Papua New Guinea is threatening to take over a gold mine operated by Barrick Gold Corp. after operations were suspended there last weekend in the midst of a dispute over renewal of its mining lease.
Fantino resigns from Aleafia Health board alongside former RCMP commissioner

Fantino resigns from Aleafia Health board alongside former RCMP commissioner

TORONTO — Aleafia Health Inc. says former Ontario Provincial Police commissioner and federal cabinet minister Julian Fantino is resigning from the company's board.
Merck expects brunt of pandemic will strike this quarter

Merck expects brunt of pandemic will strike this quarter

The pandemic increased sales of Merck medicines during the first quarter as households around the world stocked up, but the drugmaker expects a significant hit this quarter as the full force of the outbreak lands. Merck & Co.
Consumer confidence plunges in April as millions lose jobs

Consumer confidence plunges in April as millions lose jobs

WASHINGTON — U.S. consumer confidence plunged in April as millions lost their jobs and there was an unprecedented deterioration of an index that monitors their attitudes about current business and work conditions.
US home prices rose before viral outbreak shut economy

US home prices rose before viral outbreak shut economy

WASHINGTON — U.S home prices were rising at a steady pace in February, before the viral outbreak shuttered much of the economy and caused a sharp decline in home sales. March sales of new and existing homes then plummeted as much of the U.S.
HSBC Bank Canada reports Q1 profit down as it expects downturn to hurt loans

HSBC Bank Canada reports Q1 profit down as it expects downturn to hurt loans

VANCOUVER — HSBC Bank Canada reported a drop in its first-quarter profit compared with a year ago as it took a charge related to bad loans it expects due to the downturn in the economy.
Brazil edges toward being next big coronavirus hot spot

Brazil edges toward being next big coronavirus hot spot

RIO DE JANEIRO — Brazil is emerging as potentially the next big hot spot for the coronavirus amid President Jair Bolsonaro’s insistence that it is just a "little flu” and that there is no need for the sharp restrictions that have slowed the infection
Boeing CEO sees long road to recovery from virus outbreak

Boeing CEO sees long road to recovery from virus outbreak

Boeing's CEO said Monday that it will take years for the aircraft-building business to return to levels seen before the coronavirus pandemic, which has slowed air travel to a trickle and led airlines to park 2,800 jets.
CN Rail withdraws profit forecast after rail blockades, COVID-19 downturn

CN Rail withdraws profit forecast after rail blockades, COVID-19 downturn

MONTREAL — Canadian National Railway Co. is withdrawing its profit forecast as uncertainty fostered by the COVID-19 pandemic tears up the transportation industry playbook.