National Business

TORONTO — Canadian bank executives say an economic rebound is on its way after months of governments and financial institutions working to offset turmoil with loans, deferrals, interest rate cuts and subsidies.

CALGARY — Suncor Energy Inc. is forecasting higher spending and production in 2021 based on benchmark U.S. oil prices staying near their current levels of around US$45 per barrel.

SILVER SPRING, Md. — U.S. construction spending jumped 1.3% in October, the fifth straight monthly increase, again on the strength of single-family home building. The October gain follows a strong upward revision to 0.

TORONTO — BMO Financial Group says it is winding down its non-Canadian investment and corporate banking business in the energy sector as the bank topped expectations with a $1.6-billion profit in its latest quarter.

MONTREAL — Supremex Inc. says it is closing its Edmonton facility and cutting 39 jobs in a move to reduce costs. The envelope maker says the cuts represent about five per cent of its total workforce.

MONTREAL — Canadians planning to buy a live Christmas tree this season should start shopping now and expect to pay more, the Canadian Christmas Tree Growers Association says. Farmers anticipate 2020 will be a record sales year.

BEIJING — Asian stocks rose Tuesday after Chinese manufacturing improved, with investors looking ahead to U.S. Federal Reserve Chairman Jerome Powell’s appearance before legislators. Benchmarks in Shanghai, Tokyo, Hong Kong and Sydney advanced.

WILMINGTON, Del.

TORONTO, S.D. — Maple Leaf Sports and Entertainment says it is cutting the salaries of up to one quarter of its full-time staff, and extending salary reductions for senior management and executives to deal with the financial impact of COVID-19.

EDMONTON — Aurora Cannabis Inc. says it is indefinitely pausing operations at one of its Alberta facilities and laying off a few dozen staff.