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National Business
Economists predict recession coming due to COVID-19 and plunge in oil prices
TORONTO — A recession is coming later this year as the economy is derailed by the impact of COVID-19 and a plunge in oil prices, economists said Friday. Royal Bank of Canada forecasts the economy will grow at an annualized pace of 0.
Mar 13, 2020 3:21 PM
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Big city, big worry: Pressure mounting to close NYC schools
NEW YORK — Calls to close the nation's biggest public school system grew Friday in a subdued New York City, where the coronavirus has already turned the lights out on Broadway and shuttered big gathering spots from arenas to museums.
Mar 13, 2020 2:49 PM
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Fed takes extra steps to sooth virus-rattled bond market
WASHINGTON — The Federal Reserve and the European Central Bank have taken large steps this week to try to calm financial markets and restore some degree of confidence. So far, it hasn't quite worked.
Mar 13, 2020 2:20 PM
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Spotty sick leave policies limit options for avoiding virus
LONDON — A barber in Beijing is supporting his wife and child by charging food and other expenses to a credit card while he waits for his employer's shop to reopen.
Mar 13, 2020 12:49 PM
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List of oil producers cutting budgets lengthens with Husky, ARC and more
CALGARY — Canada's oil and gas producers are continuing to cut billions of dollars from capital spending budgets and reduce payouts to investors in the wake of this week's sharp plunge in oil prices. Calgary-based ARC Resources Ltd.
Mar 13, 2020 11:51 AM
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Household debt-to-income rations lower in Q4: StatCan
OTTAWA — Statistics Canada says household debt as a percentage of disposable income edged down in the fourth quarter. The agency says Canadian households owed an average of $1.763 for every dollar of disposable income, down from the $1.
Mar 13, 2020 10:53 AM
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ARC Resources cuts capital budget for 2020, slashes dividend payment
CALGARY — ARC Resources Ltd. cut its capital budget and slashed its dividend to help deal with the plunge on commodity markets.
Mar 13, 2020 7:55 AM
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Stock markets recover after turbulent trading
BANGKOK — European stocks rose Friday and Wall Street was set to gain on the open after turbulent trading in Asia and a day after the market's worst session in over three decades. Shares rose in Paris and London but fell 6.
Mar 13, 2020 7:28 AM
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Coronavirus brings entertainment world to a standstill
NEW YORK — The entertainment industry prepared Thursday for an unprecedented shutdown to curb the spread of the coronavirus, cancelling upcoming movies, suspending all Broadway performances and scuttling concert tours until it's safe to welcome crowd
Mar 13, 2020 12:46 AM
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Businesses ramp up COVID-19 precautions amid workplace cases
TORONTO — Businesses are ramping up their efforts to stop the spread of the novel coronavirus after a string of cases cropped up at Canadian workplaces in recent days.
Mar 12, 2020 6:32 PM
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