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BRP cutting 650 jobs as it exits outboard motor business hit hard by COVID-19

MONTREAL — BRP Inc. says it will cut 650 jobs or about five per cent of its global workforce as the recreational product maker stops producing outboard motors that have been "hard hit" by the COVID-19 pandemic.

Most actively traded companies on the TSX

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange ( 15,272.03, up 123.91 points.) Air Canada (TSX:AC). Industrials. Down $1.23, or 6.96 per cent, to $16.44 on 17.4 million shares.
S&P/TSX composite hits highest close since March on strength of financials sector

S&P/TSX composite hits highest close since March on strength of financials sector

TORONTO — Canada's main stock index recovered from early trading weakness Wednesday to move to its highest closing in nearly three months on the strength of the heavyweight financials sector. It surged for a second straight day, gaining 3.

Postmedia to lay off about 40 employees after unions reject salary cuts

One of Canada's largest newspaper conglomerates will lay off about 40 employees after a number of its unions would not approve a temporary salary reduction to help reduce costs amid the COVID-19 pandemic, according to a memo sent to staff.

Alberta's Kenney says targeted approach needed to prevent COVID-19 resurgence

EDMONTON — Premier Jason Kenney says Alberta has been among the world leaders in staunching the spread of the COVID-19 pandemic, but at a staggering financial cost the province cannot afford to repeat should there be a second wave.
Mobile phone sales 'very quiet' even as some stores reopen, Rogers CEO says

Mobile phone sales 'very quiet' even as some stores reopen, Rogers CEO says

TORONTO — Sales of mobile phones have been "very quiet" and likely won't pick up until customers return to stores and malls that have been temporarily closed due to the pandemic, the head of Canada's largest wireless business said Wednesday.
CMHC sees declines in home prices, sales, starts that will linger to end of 2022

CMHC sees declines in home prices, sales, starts that will linger to end of 2022

Canada's housing sector will see a retreat in prices, sales and building in the months ahead and likely won't see a return to pre-pandemic levels until at least the end of 2022, said Canada Mortgage and Housing Corp. in an outlook released Wednesday.
BMO, RBC Q2 profit down from a year ago as provisions for credit losses soar

BMO, RBC Q2 profit down from a year ago as provisions for credit losses soar

TORONTO — Midway through bank earnings season, a picture is forming of a financial industry starting to feel the weight of loan deferrals and massive money allocations to cover potential defaults.
CEO pay has topped $12.3M. Can it keep rising post-pandemic?

CEO pay has topped $12.3M. Can it keep rising post-pandemic?

The typical pay package for CEOs at the biggest U.S. companies topped $12.3 million last year, and the gap between the boss and their workforces widened further, according to AP’s annual survey of executive compensation.
Canada initiates dumping investigation of steel imports from five countries

Canada initiates dumping investigation of steel imports from five countries

OTTAWA — The Canada Border Services Agency says it has initiated an investigation in alleged dumping of some steel imports from Taiwan, Germany, South Korea, Malaysia and Turkey.