National Business

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.

TORONTO — Flexible work arrangements, affordable child-care offerings and training for new jobs are all key to helping women recover from a "she-cession," says the Ontario Chamber of Commerce.

TORONTO — The investment manager for Canada's national retirement fund has named Edwin Cass as its first-ever chief investment officer, a position that's being created to reflect the growing size of its fund.