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Toronto stock market rises as energy sector gains despite crude softness

Toronto stock market rises as energy sector gains despite crude softness

TORONTO — Canada's main stock index outpaced U.S. markets Tuesday as the energy sector led despite further softness in crude oil prices. The S&P/TSX composite index closed up 156.18 points at 14,798.29, the highest level in more than seven weeks.
McDonald's Canada to start using imported beef amid Canadian supply concerns

McDonald's Canada to start using imported beef amid Canadian supply concerns

TORONTO — McDonald's Canada says it will start importing beef as Canada's beef supply chain struggles to meet current demand amid COVID-19.
Plummeting business tourism costing cities hundreds of millions in lost revenues

Plummeting business tourism costing cities hundreds of millions in lost revenues

The cancellation of business conferences and conventions across the country is costing cities hundreds of millions of dollars in lost revenue as the COVID-19 pandemic devastates the tourism industry.
Postmedia to lay off 80, permanently close 15 newspapers amid COVID-19 fallout

Postmedia to lay off 80, permanently close 15 newspapers amid COVID-19 fallout

Postmedia Network Inc. will lay off about 80 employees and permanently close 15 community publications as the newspaper conglomerate navigates the financial fallout of COVID-19.

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.