National Business

OTTAWA — COVID-19 contributed to Canada Post losses last year as the Crown corporation lost $779 million before tax, a fivefold increase from 2019, even as it faces record parcel volumes.

MONTREAL — Insolvent beverage company DavidsTea Inc. says its net losses nearly doubled last year on surging losses in the fourth quarter. The Montreal-based company says it lost $55.9 million or $2.

TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange: Toronto Stock Exchange (19,108.33, down 147.59 points.) Athabasca Oil Corp. (TSX:ATH). Energy. Up nine cents, or 17.65 per cent, to 60 cents on 11.

TORONTO — Blockbuster corporate earnings and economic data couldn't prevent global stock markets from tumbling to end the trading week on renewed COVID-19 concerns and a possible signal that U.S. interest rates could be rising sooner than expected.

LONDON — AstraZeneca said Friday that it intends to seek U.S. authorization for its COVID-19 vaccine in the “coming weeks," acknowledging a delay in the much-anticipated filing that had been expected by mid-April.

CALGARY — Shares in Imperial Oil Ltd. rose Friday after it raised its dividend by nearly 23 per cent and announced accelerated share buybacks as it continues to prioritize returns to shareholders over spending on big growth projects.

OTTAWA — The Canadian economy grew at an annual rate of 6.5 per cent through the first quarter of the year, Statistics Canada said Friday, bringing the country tantalizing close to reaching pre-pandemic output.

Ongoing stay-at-home orders in Canada are continuing to dampen sales at Tim Hortons, with the impact on morning coffee routines the single largest drag on the chain's sales, the head of the restaurant's parent company said Friday.

The hit video app TikTok said Friday that an executive at its Chinese parent company, ByteDance, will now also serve as TikTok CEO. The new CEO, Shouzi Chew, is the chief financial officer of ByteDance.

LONDON — European Union regulators accused Apple on Friday of violating the bloc's antitrust laws, alleging the iPhone maker distorts competition for music streaming by imposing unfair rules for rival services in its App Store.