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Toronto stock market soars to near eight-week high on surging energy sector

Toronto stock market soars to near eight-week high on surging energy sector

TORONTO — Canada's main stock index soared to a near eight-week high Wednesday as the energy sector surged despite producers posting big losses as they cut oil production amid low crude prices. The S&P/TSX composite index closed up 429.
A&W reports same-store sales down 4% due to COVID-19 pandemic

A&W reports same-store sales down 4% due to COVID-19 pandemic

VANCOUVER — A&W restaurant sales have fallen sharply since the COVID-19 pandemic started to grow in Canada in mid-March, according to the A&W Revenue Royalties Income Fund.
Economists agree: No quick rebound from recession is likely

Economists agree: No quick rebound from recession is likely

WASHINGTON — Devastated by the coronavirus, the U.S. economy is sinking. And the plunge is accelerating.
Boeing to cut 10% of work force as 1Q revenue, profit slide

Boeing to cut 10% of work force as 1Q revenue, profit slide

Boeing outlined plans Wednesday to cut 10% of its workforce, slow production of new planes and raise more cash to survive a downturn in business that started with the grounding of its bestselling jet and has accelerated with a deep slump in air trave

Ontario Energy Association calls for end to most hydro subsidies

TORONTO — The association representing Ontario's energy producers and distributors says the province should stop subsidizing the price of hydro and instead offer targeted help to customers who need it most.
Canopy Growth lays off 200 workers in third cut made since March

Canopy Growth lays off 200 workers in third cut made since March

SMITHS FALLS, Ont. — Canopy Growth Corp. says it will be cutting 200 workers in its third round of cuts in the last two months. The Smiths Falls, Ont.
Farm groups oppose new foreign worker restrictions in New Brunswick

Farm groups oppose new foreign worker restrictions in New Brunswick

FREDERICTON — Farm groups in New Brunswick say a new restriction on temporary foreign workers couldn't have come at a worse time and will have a major impact on food production in the province.
Roots closing seven U.S. stores, reports $44.6M fourth-quarter loss

Roots closing seven U.S. stores, reports $44.6M fourth-quarter loss

TORONTO — Clothing retailer Roots Corp. plans to close permanently nearly all of its U.S. stores as they continue to underperform in a retail environment exacerbated by the COVID-19 pandemic.
Economic 'train wreck' delivers billions in asset impairments to oil producers

Economic 'train wreck' delivers billions in asset impairments to oil producers

CALGARY — Fears that crude oil prices slammed by a global economic "train wreck" will remain low for some time are forcing Calgary-based companies to write off billions of dollars in value from their oil and gas resources. Husky Energy Inc.
Trump trade office adds Amazon to 'notorious markets' list

Trump trade office adds Amazon to 'notorious markets' list

WASHINGTON — The United States for the first time added five of Amazon’s overseas operations to its list of “notorious markets’’ where pirated goods are sold.