National Business

MONTREAL — DavidsTea Inc. swung to a $2.6-million profit in its latest quarter despite a 41 per cent decrease in sales during the COVID-19 store closings.

TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (15,981.77, down 217.20 points.) Canadian Natural Resources (TSX:CNQ). Down $1.07, or 4.62 per cent, to $22.09 on 20.2 million shares.

TORONTO — Canada's main stock index appeared headed to its worst day in more than three months on Monday until it experienced a late partial recovery from fears of another COVID-19 economic shutdown.

OTTAWA — Prices of new homes jumped half a per cent in August, the biggest one-month increase since May 2017, Statistics Canada said on Monday.

Canada's housing market experienced overvaluation in some pockets of the country in the spring amid the COVID-19 pandemic, Canada Mortgage and Housing Corp. said in a new report released on Monday.

WASHINGTON — Americans' household wealth rebounded last quarter to a record high as the stock market quickly recovered from a pandemic-induced plunge in March.

The head of Canada’s largest manufacturer of tissue products says he’s concerned about the industry’s supply of paper towel ahead of a potential second wave of COVID-19.

FRANKFURT — Shares in electric and hydrogen-powered truck startup Nikola plunged on Monday after the company's founder resigned amid allegations of fraud - just two weeks after signing a $2 billion partnership with General Motors.

CALGARY — Obsidian Energy Ltd. is formalizing its hostile takeover bid for rival Bonterra Energy Corp. It says it will offer two Obsidian shares for each Bonterra share until Jan. 4.

FRANKFURT — The head of the European Central Bank says that the economy is rebounding but that the recovery remains uncertain, incomplete and dependent on containing the virus outbreak.