Skip to content

National Business

CMHC readies for housing market risks in wake of COVID-19 downturn

CMHC readies for housing market risks in wake of COVID-19 downturn

Canada Mortgage and Housing Corp. is bracing for further impacts on the housing market from the COVID-19 pandemic.
In a week of layoffs in the US, MGM Resorts adds 18,000 more

In a week of layoffs in the US, MGM Resorts adds 18,000 more

MGM Resorts is laying off 18,000 people as an unchecked pandemic leaves economic scars across a broad swath of U.S. industries, particularly those that rely on healthy crowds of people. The layoffs at MGM, which amount to about a quarter of its U.
Oilpatch capital spending fell by 54% in second quarter, StatCan reports

Oilpatch capital spending fell by 54% in second quarter, StatCan reports

CALGARY — Statistics Canada says capital spending in the country's oil and gas sector fell by 54 per cent in the quarter ended June 30 as numerous producers chopped budgets amid sliding global oil prices.
Canopy Growth to open 10 stores in Alberta under Tweed and Tokyo Smoke banners

Canopy Growth to open 10 stores in Alberta under Tweed and Tokyo Smoke banners

SMITH FALLS, Ont. — Canopy Growth Corp. says it will open its first retail cannabis stores in Alberta. The Ontario-based company says it's set to open 10 stores under the Tweed and Tokyo Smoke banners and has additional locations in the pipeline.
US consumer spending rose a moderate 1.9% in July

US consumer spending rose a moderate 1.9% in July

WASHINGTON — U.S. consumers increased their spending by 1.9% last month, a dose of support for an economy struggling to emerge from the grip of a pandemic that has held back a recovery and kept roughly 27 million people jobless.
Mercedes gets big electric van order from Amazon

Mercedes gets big electric van order from Amazon

BERLIN — Amazon says it's buying 1,800 electric delivery vans from Mercedes-Benz, the biggest such order for the German automaker to date.
CWB Financial Group third-quarter profit beats expectations

CWB Financial Group third-quarter profit beats expectations

EDMONTON — CWB Financial Group reported its third-quarter profit fell compared with a year ago as its provisions for credit losses rose compared with 2019 due to the pandemic, but the bank still beat expectations.
Israel lists first commercial passenger flight to UAE

Israel lists first commercial passenger flight to UAE

DUBAI, United Arab Emirates — Israel has listed an El Al flight taking off Monday for Abu Dhabi, which would be Israel's first commercial passenger flight to the United Arab Emirates after the two countries agreed to a U.S.
Fed: Rates to stay ultra-low even after inflation picks up

Fed: Rates to stay ultra-low even after inflation picks up

WASHINGTON — The Federal Reserve announced a significant change Thursday in how it manages interest rates by saying it plans to keep rates near zero even after inflation has exceeded its 2% target level.
Saskatchewan headed for austerity as it deals with $2.1B COVID-19 deficit

Saskatchewan headed for austerity as it deals with $2.1B COVID-19 deficit

REGINA — Spending restraint is on the horizon in Saskatchewan as the province begins to dig itself out of a deficit Premier Scott Moe's government blames on the COVID-19 pandemic.