National Business

CALGARY — Canada's oilfield services sector is in for "an immense amount of pain" over at least the next year thanks to low North American oil and gas exploration activity amid a worldwide glut of cheap crude, according to a report from CIBC.

MONTREAL — Landing gear manufacturer Heroux-Devtek Inc. intends to focus on the defence side of its business to overcome a slow recovery expected in commercial aviation due to COVID-19.

CINCINNATI — Bill Keating is remembered widely as gentlemanly, considerate and modest. Underneath that genial exterior was a fiercely competitive and driven athlete, lawyer, politician and news executive. He was highly successful in all those fields.

DORVAL, Que. — Canada's Transportation Safety Board is calling on the federal government to simplify its rules around airplane landings to prevent approaches in poor visibility.

WASHINGTON — Sales of existing homes plunged 17.8% in April with the real estate market still in the grips of the coronavirus pandemic.

Amid plunging interest rates in the wake of the economic devastation wrought by the COVID-19 pandemic, many homeowners have felt tempted to break their mortgages in order to lock in a better rate and save big money.

MONTREAL — Shares in Lightspeed POS Inc.

TORONTO — CI Financial Corp. says it has acquired the remaining 25 per cent of online investment firm WealthBar Financial Services Inc. that it did not already own. Financial terms of the deal were not immediately available.

WASHINGTON — A former Green Beret and his son were arrested Wednesday in Massachusetts on charges they smuggled Nissan Motor Co. Chairman Carlos Ghosn out of Japan in a box while he awaited trial there on financial misconduct charges.

WASHINGTON — Federal Reserve officials last month worried about the coronavirus pandemic's toll on the U.S.