National Business

Mountain Equipment Co-Op and Cineplex Inc. have laid off thousands of employees as the companies closed stores and theatres as instructed by various governments in an effort to stem the transmission of COVID-19.

WASHINGTON — The Federal Reserve is unleashing its boldest effort yet to protect the U.S. economy from the coronavirus by helping companies and governments pay their bills and survive a devastating crisis.

TORONTO — The Toronto Regional and Ontario real estate boards have urged realtors to stop holding open houses because of the COVID-19 pandemic, following a similar move by the Greater Vancouver Area board last week.

MONTREAL — Transat AT Inc. has temporarily laid off about 70 per cent of its workforce in Canada, about 3,600 people, as it looks to stop flying on April 1.

TORONTO — The Investment Industry Regulatory Organization of Canada has fined TD Waterhouse Canada Inc. $4 million for failing to include position cost information in quarterly retail client account statements for certain securities positions.

CALGARY — Ensign Energy Services Inc. is cutting its capital budget and says its top executives will take a pay cut as it moves to deal with the crash in the oilpatch due to COVID-19 and the oil price war between Russia and Saudi Arabia.

WINNIPEG — NFI Group Inc. says about 6,500 employees will be affected by idling a majority of its facilities for a two-week period starting March 30, if not sooner, as it works to deal with the impact of the COVID-19 pandemic.

BURLINGTON, Ont. — A pair of royalty income funds are suspending distributions as restaurants across the country close to slow the spread of COVID-19.

OTTAWA — Statistics Canada reports wholesale sales rose 1.8 per cent to $65.2 billion in January, boosted by the motor vehicle and motor vehicle parts and accessories and the miscellaneous subsectors. Economists had expected a decline of 0.

BURLINGTON, Ont. — SIR Royalty Income Fund, which has a portfolio of 60 restaurants in Canada, is suspending its distributions as it stops dine-in restaurant operations at all of its locations.