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Toronto's main stock index falls more than 100 points on weak energy results

Toronto's main stock index falls more than 100 points on weak energy results

Toronto's main stock index shed more than 100 points to close the trading week as it was dragged down by the energy sector despite a boost to the price of oil. The S&P/TSX composite index fell 130.09 points to 16,169.
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Oil giants lost billions as pandemic crushed demand for fuel

Oil giants lost billions as pandemic crushed demand for fuel

NEW YORK — Two American oil giants lost more than $9 billion in the second quarter as the pandemic kept households on lockdown, cutting a gaping hole into a once-thriving business as the need for oil diminished around the world. Exxon lost $1.
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EU clears Alstom's acquisition of Bombardier rail unit

EU clears Alstom's acquisition of Bombardier rail unit

BRUSSELS — The European Commission has given its go-ahead to the acquisition of the rail business of Canadian engineering firm Bombardier by French train maker Alstom.
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Air Canada loses $1.75 billion as CEO demands looser travel restrictions

Air Canada loses $1.75 billion as CEO demands looser travel restrictions

MONTREAL — The head of Air Canada on Friday accused the federal government of imposing "one of the most severe aviation lockdown regimes in the world" and called for lighter travel restrictions after the airline suffered a $1.
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Imperial Oil cautious on ramping up operations as it reports Q2 earnings miss

Imperial Oil cautious on ramping up operations as it reports Q2 earnings miss

CALGARY — The CEO of Imperial Oil Ltd. says the company will be cautious in ramping up spending despite a recovery in fuel demand following the collapse earlier this year amid the COVID-19 pandemic lockdowns.
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Laura's Shoppe starts restructuring process after securing creditor protection

Laura's Shoppe starts restructuring process after securing creditor protection

MONTREAL — Laura's Shoppe (P.V.) Inc. says it has started a restructuring process under creditor protection amid the unprecedented challenges the retail industry has faced during the COVID-19 pandemic.
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Fiat Chrysler muscles through, green shoots in North America

Fiat Chrysler muscles through, green shoots in North America

DETROIT — Fiat Chrysler overcame coronavirus-related factory shutdowns to post losses that were not as bad as feared, and the company predicted improving conditions for the remainder of 2020. The Italian-American automaker lost just over $1.
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Merck ups outlook, turns profit during global vaccine hunt

Merck ups outlook, turns profit during global vaccine hunt

FAIRLESS HILLS, Pa. — Surging sales of cancer medicines and reduced spending across the board helped Merck overcome a big hit from the coronavirus pandemic and pushed second quarter profits up by 12%.
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SNC-Lavalin to restructure resources business to be profitable next year

SNC-Lavalin to restructure resources business to be profitable next year

MONTREAL — SNC-Lavalin Group Inc. is restructuring its money-losing resources business with a plan to sell off or shut down the non-profitable parts and fold the remnants into its engineering services division.
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Caisse hires UN ambassador Blanchard as executive in charge of global portfolio

Caisse hires UN ambassador Blanchard as executive in charge of global portfolio

MONTREAL — Quebec's pension fund manager, the Caisse de depot, has hired Canada's United Nations ambassador as a senior executive.
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