National Business

AURORA, Ont. — Magna International Inc. has withdrawn its 2020 outlook because of the "high degree of business uncertainty" caused by the COVID-19 pandemic. The Aurora, Ont.

MONTREAL — Reitmans (Canada) Ltd. is laying off 90 per cent of its Canadian retail store workers and 30 per cent of its Montreal head office employees after closing stores amid the spread of COVID-19.

MONTREAL — Molson Coors Beverage Co. says it is withdrawing its financial outlook for the 2020 financial year and beyond due to uncertainty about the impacts of the ongoing COVID-19 outbreak. The company released its guidance on Feb.

MONTREAL — Quebecor Inc. says it has temporarily laid off 10 per cent of its workforce as it deals with the impact of COVID-19. The Quebec-based telecommunications and media company employs more than 10,000 people in Canada.

VANCOUVER — Boston Pizza International Inc. is temporarily laying off approximately half of its 192 corporate staff across its three offices in Canada.

WASHINGTON — Americans increased their spending by a modest amount in February but the expectation is that spending will be hit hard in coming months reflecting the shutdown of the American economy by the coronavirus.

MONTREAL — SNC-Lavalin Group Inc. is withdrawing its financial guidance for 2020 as it works to cut costs and manage its cash flow due the COVID-19 pandemic and its impact of the company's operations around the world.

VANCOUVER — Canfor Corp. is cutting production and reducing capital spending as it deals with the COVID-19 outbreak. The Vancouver-based lumber producer says it has reduced its planned capital spending by $20 million for Canadian and U.S. operations.

VICTORIA — The British Columbia government is expected to release its modelling information on COVID-19 today. Health Minister Adrian Dix says the report will be an indicator of how many people may become infected with the virus.

TORONTO — Netflix is lowering video quality for its subscribers in Canada as it attempts to reduce soaring demands on internet bandwidth in the midst of the COVID-19 pandemic.