National Business

Roots Corp. reported a $1.8-million loss in its latest quarter as its sales fell 38 per cent compared with a year ago due to the COVID-19 pandemic. Sales in what was the company's second quarter totalled $38.2 million, down from $61.

CHICAGO — The pilots’ union at United Airlines said Wednesday it has reached an agreement with the carrier to prevent the furlough of nearly 3,000 pilots when a federal prohibition on job cuts ends Oct. 1.

NEW YORK — Mall owners Simon Property Group and Brookfield Property Partners are close to a deal to buy department store chain J.C. Penney out of bankruptcy and keep the chain running.

MONTREAL — Lightspeed POS Inc. says it will launch an initial public offering of its voting shares in the United States to help fund its growth strategies.

ST. JOHN'S, N.L. — Husky Energy Inc. is asking the federal government and the province of Newfoundland and Labrador to make a "direct investment" in its partly completed $2.2-billion West White Rose offshore oil project.

TORONTO — North American stock markets enjoyed a broadly based bounce-back midweek after a three-day correction driven by the technology sector. All 11 sectors of the TSX were higher led by materials, consumer staples and technology.

NEW YORK — Wall Street snapped back to life on Wednesday, recovering from its worst stretch of losses in months, as the bloodletting for big technology stocks came to at least a temporary halt.

Toronto-Dominion Bank is facing a class-action lawsuit over its refusal to pay travel insurance claims following trip cancellations triggered by the COVID-19 pandemic.

TORONTO — The CEOs of Canada's big banks say the COVID-19 pandemic has pushed their companies to balance quickly adapting to new consumer habits with a careful approach to combating economic pressures.

Marriott International Inc. plans to lay off 17% of its corporate workforce next month as the coronavirus continues to take a heavy toll on the hotel industry.