National Business

TORONTO — With sheer optimism and a considerable amount of uncertainty ahead of them, two Toronto businessmen with strong political ties are betting on returning the languished Torstar Corp.

CAPE CANAVERAL, Fla. — The launch of a SpaceX rocket ship with two NASA astronauts on a history-making flight into orbit was called off with less than 17 minutes to go in the countdown Wednesday because of thunderclouds and the risk of lightning.

FORT LAUDERDALE, Fla. — SeaWorld and Walt Disney World will reopen in Orlando, Florida, in June and July after months of inactivity because of the coronavirus pandemic, according to plans a city task force approved Wednesday.

MONTREAL — BRP Inc. says it will cut 650 jobs or about five per cent of its global workforce as the recreational product maker stops producing outboard motors that have been "hard hit" by the COVID-19 pandemic.

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange ( 15,272.03, up 123.91 points.) Air Canada (TSX:AC). Industrials. Down $1.23, or 6.96 per cent, to $16.44 on 17.4 million shares.

TORONTO — Canada's main stock index recovered from early trading weakness Wednesday to move to its highest closing in nearly three months on the strength of the heavyweight financials sector. It surged for a second straight day, gaining 3.

One of Canada's largest newspaper conglomerates will lay off about 40 employees after a number of its unions would not approve a temporary salary reduction to help reduce costs amid the COVID-19 pandemic, according to a memo sent to staff.

EDMONTON — Premier Jason Kenney says Alberta has been among the world leaders in staunching the spread of the COVID-19 pandemic, but at a staggering financial cost the province cannot afford to repeat should there be a second wave.

TORONTO — Sales of mobile phones have been "very quiet" and likely won't pick up until customers return to stores and malls that have been temporarily closed due to the pandemic, the head of Canada's largest wireless business said Wednesday.

Canada's housing sector will see a retreat in prices, sales and building in the months ahead and likely won't see a return to pre-pandemic levels until at least the end of 2022, said Canada Mortgage and Housing Corp. in an outlook released Wednesday.