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National Business
S&P/TSX composite hits highest close since March on strength of financials sector
TORONTO — Canada's main stock index recovered from early trading weakness Wednesday to move to its highest closing in nearly three months on the strength of the heavyweight financials sector. It surged for a second straight day, gaining 3.
May 27, 2020 3:00 PM
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Postmedia to lay off about 40 employees after unions reject salary cuts
One of Canada's largest newspaper conglomerates will lay off about 40 employees after a number of its unions would not approve a temporary salary reduction to help reduce costs amid the COVID-19 pandemic, according to a memo sent to staff.
May 27, 2020 2:30 PM
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Alberta's Kenney says targeted approach needed to prevent COVID-19 resurgence
EDMONTON — Premier Jason Kenney says Alberta has been among the world leaders in staunching the spread of the COVID-19 pandemic, but at a staggering financial cost the province cannot afford to repeat should there be a second wave.
May 27, 2020 2:15 PM
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Mobile phone sales 'very quiet' even as some stores reopen, Rogers CEO says
TORONTO — Sales of mobile phones have been "very quiet" and likely won't pick up until customers return to stores and malls that have been temporarily closed due to the pandemic, the head of Canada's largest wireless business said Wednesday.
May 27, 2020 2:15 PM
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CMHC sees declines in home prices, sales, starts that will linger to end of 2022
Canada's housing sector will see a retreat in prices, sales and building in the months ahead and likely won't see a return to pre-pandemic levels until at least the end of 2022, said Canada Mortgage and Housing Corp. in an outlook released Wednesday.
May 27, 2020 12:57 PM
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BMO, RBC Q2 profit down from a year ago as provisions for credit losses soar
TORONTO — Midway through bank earnings season, a picture is forming of a financial industry starting to feel the weight of loan deferrals and massive money allocations to cover potential defaults.
May 27, 2020 12:44 PM
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CEO pay has topped $12.3M. Can it keep rising post-pandemic?
The typical pay package for CEOs at the biggest U.S. companies topped $12.3 million last year, and the gap between the boss and their workforces widened further, according to AP’s annual survey of executive compensation.
May 27, 2020 11:30 AM
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Canada initiates dumping investigation of steel imports from five countries
OTTAWA — The Canada Border Services Agency says it has initiated an investigation in alleged dumping of some steel imports from Taiwan, Germany, South Korea, Malaysia and Turkey.
May 27, 2020 10:48 AM
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ATS Automation Tooling Systems reports $13.1M fourth-quarter profit
CAMBRIDGE, Ont. — ATS Automation Tooling Systems Inc. says it is focused on its costs and the preservation of liquidity as it works to deal with disruptions caused by the pandemic.
May 27, 2020 10:15 AM
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BMO reports Q2 profit down from year ago as provisions for credit losses rise
TORONTO — BMO Financial Group reported a second-quarter profit of $689 million, down from $1.5 billion a year ago, as it increased the amount set aside for bad loans due to the pandemic.
May 27, 2020 7:08 AM
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