National Business

WASHINGTON — Federal Reserve Chair Jerome Powell warned Wednesday that the viral epidemic is endangering the modest economic recovery that followed a collapse in hiring and spending this spring.

TORONTO — Canada's struggling independent businesses in the arts, entertainment and recreational sectors are at the highest risk of permanently closing due to COVID-19, according to the Canadian Federation of Independent Business.

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,294.66, up 173.34 points) Aphria Inc. (TSX:APHA). Healthcare. Down $1.50, or 18.7 per cent, to $6.52 on 9.98 million shares.

TORONTO — Canada's main stock index gained nearly 200 points Wednesday as Shopify Inc. buoyed the tech sector with its strong quarterly results. The S&P/TSX composite index gained 173.34 points to 16,294.66.

TORONTO — RioCan REIT is doubling down on its strategy to divest from brick-and-mortar apparel retailers in favour of grocery stores, pharmacies and e-commerce.

MISSISSAUGA, Ont. — Bird Construction Inc. will acquire Calgary-based construction services company Stuart Olson Inc. in a deal valued at $96.5 million. The combined business would employ about 5,000 people across Canada and generate about $2.

REGINA — Saskatchewan is reporting 50 new cases of COVID-19. The government says 44 of the infections are from what it calls "one communal living setting" in the north.

HALIFAX — After a thin $55-million surplus tabled in February's budget, COVID-19 costs have driven Nova Scotia's finances deep into the red, resulting in a $853-million deficit.

DETROIT — Even though General Motors was able to reopen its U.S. factories for the last half of the second quarter, the company still lost $806 million from April through June.

TORONTO — Camera store chain Henry's says it has received court approval to restructure after more than a century of operations as it tries to survive in a post-pandemic world.