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National Business

McDonald's says 25% of stores closed as 1Q sales fall

McDonald's says 25% of stores closed as 1Q sales fall

McDonald's says it has likely reached the trough of global restaurant closures due to COVID-19, with 25% still shuttered. But business has been slow to return as lockdown orders continue to disrupt consumers' routines.
Looking for car? Vehicle market likely to look very different due to pandemic

Looking for car? Vehicle market likely to look very different due to pandemic

TORONTO — Motorists are advised to fasten their seatbelts for a very different spring car-buying season. In addition to complicating the shopping experience, the COVID-19 pandemic could have an impact on selection, price and financing, say experts.
Economic growth stalled in February ahead of pandemic-related downturn

Economic growth stalled in February ahead of pandemic-related downturn

OTTAWA — Economic growth in Canada stalled in February ahead of the collapse in March due to the COVID-19 pandemic, Statistics Canada said Thursday.
With European economy in record drop, central bank gives aid

With European economy in record drop, central bank gives aid

FRANKFURT — The European Central Bank is stepping up its efforts to cushion the economy against a record downturn that the bank's president, Christine Lagarde, said was “of a magnitude and speed that are unprecedented in peacetime.
EPL's Saudi piracy concerns as Newcastle takeover assessed

EPL's Saudi piracy concerns as Newcastle takeover assessed

The English Premier League has to decide whether to approve Saudi Arabia's takeover of Newcastle while concerned that piracy of its broadcasts from the kingdom poses a “significant risk” to the competition's revenue.

Investment firm Raymond James Ltd. acquires Oak Trust Co.

TORONTO — Raymond James Ltd. has acquired Oak Trust Co., a privately held trust company based in London, Ont. Financial terms of the deal by the Canadian arm of investment dealer Raymond James Financial Inc. were not disclosed.
Horgan says details of plan to reopen B.C. during pandemic coming next week

Horgan says details of plan to reopen B.C. during pandemic coming next week

VICTORIA — Premier John Horgan says he will outline details next week about reopening British Columbia during the COVID-19 pandemic as workers at two additional poultry processing plants were reported to have tested positive for the virus.
Saskatchewan reopen plan won't start in two communities with COVID-19 outbreaks

Saskatchewan reopen plan won't start in two communities with COVID-19 outbreaks

REGINA — Saskatchewan Premier Scott Moe says he's confident in his government's plan to relax some restrictions around COVID-19 starting next month, despite two outbreaks of the illness and another death.
Foodora files for insolvency as it prepares to close Canadian operations

Foodora files for insolvency as it prepares to close Canadian operations

TORONTO — Food delivery app Foodora has filed for insolvency as it prepares to close its Canadian operations in a couple of weeks.
Gildan suspends dividend, cuts executive pay after losing nearly US$100M in Q1

Gildan suspends dividend, cuts executive pay after losing nearly US$100M in Q1

MONTREAL — Gildan Activewear Inc. says it is suspending its quarterly dividend and cutting executive compensation after losing nearly US$100 million in its first quarter due to the global impact of the COVID-19 pandemic.