National Business

TORONTO — Canada's main stock index lost some ground midweek on weakness by the key energy and financials sectors. The S&P/TSX composite index closed down 132.41 points at 15,701.33. Activity was mixed in the United States.

Each day, SoHo hotel general manager David Kelley hears the sound of his footsteps echoing off the marble floors and panelled walls as he walks across the lobby, a space as empty as the 89 rooms above him. "It is very quiet.

TORONTO — Starbucks is planning to close up to 200 coffee shops across Canada as it responds to changes in consumer habits during the COVID-19 pandemic.

Former Bank of Canada governor Mark Carney is releasing a new book laying out his vision for a more equitable post-pandemic economy.

Dollarama Inc. experienced a drop in profit during its most recent quarter, but still topped the expectations of analysts who believed the pandemic would weigh more on the company's bottom line.

CALGARY — Lowe's Canada says work will start this month on a new distribution centre located northeast of Calgary designed to improve its in-store and online operations in Western Canada.

PARIS — The virus crisis has triggered the worst global recession in nearly a century -- and the pain is not over yet even if there is no second wave of infections, an international economic report warned Wednesday.

WASHINGTON — U.S. consumer prices dropped in May for the third straight month as the coronavirus pandemic pushed the American economy into a recession. The Labor Department said Wednesday that its consumer price index fell 0.

WASHINGTON — U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession.

LOS ANGELES — After 33 seasons on the air, “Cops” has been dropped by the Paramount Network as protests against police proliferate around the world.