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Canada Post swings to Q1 loss despite 10 per cent growth in parcels revenues

Canada Post swings to Q1 loss despite 10 per cent growth in parcels revenues

OTTAWA — Canada Post swung to a $66-million loss before taxes in the first quarter despite a surge in parcel volumes near the start of the COVID-19 lockdown.
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Economic shock from COVID-19 to lead to higher indebtedness, Poloz says

Economic shock from COVID-19 to lead to higher indebtedness, Poloz says

OTTAWA — Canada's response to the COVID-19 pandemic will "clearly lead to higher indebtedness" once the economic shock has passed, Bank of Canada governor Stephen Poloz warned Monday.
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Vermilion Energy CEO leaves company, executive committee to take over role

Vermilion Energy CEO leaves company, executive committee to take over role

CALGARY — Shares in Vermilion Energy Inc. traded lower on Monday after the company announced the unexpected, immediate departure of its president and CEO Anthony Marino and its decision to go forward without a chief executive.
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As malls re-open across the country, worries grow that consumers won't come back

As malls re-open across the country, worries grow that consumers won't come back

Malls across the country are beginning to open their doors after weeks of government-mandated shutdowns, but both operators and retail tenants are stepping into uncharted territory amid the COVID-19 pandemic.
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Ontario offers loan of up to $500 million to lottery and gaming corporation

Ontario offers loan of up to $500 million to lottery and gaming corporation

TORONTO — Ontario is extending a line of credit of up to $500 million to its lottery and gaming agency. The province says the loan will temporarily support the Ontario Lottery and Gaming Corporation's operational costs during the COVID-19 pandemic.
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Japan lifts coronavirus emergency in all remaining areas

Japan lifts coronavirus emergency in all remaining areas

TOKYO — Japanese Prime Minister Shinzo Abe lifted a coronavirus state of emergency in Tokyo and four other remaining areas on Monday, ending the restrictions nationwide as businesses begin to reopen.
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Boeing says it will reduce workforce by 400 in Winnipeg due to impact from COVID-19

Boeing says it will reduce workforce by 400 in Winnipeg due to impact from COVID-19

WINNIPEG — Boeing says it plans to cut 400 positions at its Winnipeg facilities due to the impact of COVID-19. A statement from the company says the reductions will come from voluntary and involuntary layoffs and normal attrition.
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Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week

TORONTO — Five things to watch for in the Canadian business world in the coming week: Poloz speech Bank of Canada governor Stephen Poloz will give the University of Alberta Eric J. Hanson Memorial Lecture by video conference on Monday.
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NAFTA panel sides with U.S. softwood lumber decision but B.C. hopes for final win

NAFTA panel sides with U.S. softwood lumber decision but B.C. hopes for final win

VANCOUVER — A NAFTA panel has backed the U.S. International Trade Commission's decision regarding softwood lumber imports from Canada but British Columbia's industry group still hopes for an ultimate victory. The U.S.
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Air Canada revises refund policy amid growing anger over cancelled flights

Air Canada revises refund policy amid growing anger over cancelled flights

MONTREAL — Air Canada is revising its cancellation policy amid mounting customer frustration, offering travellers the option of a voucher with no expiration date or Aeroplan points if the airline cancels their flight due to the COVID-19 pandemic.
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