Skip to content

National Business

National employment numbers for February from Statistics Canada, at a glance

OTTAWA — A quick look at February employment (numbers from the previous month in brackets): Unemployment rate: 5.6 per cent (5.5) Employment rate: 61.8 per cent (61.8) Participation rate: 65.5 per cent (65.
Asian shares drop as virus fears grip markets again

Asian shares drop as virus fears grip markets again

TOKYO — Asian shares slipped Friday as fears about the virus outbreak once again dominated financial markets. Japan's benchmark Nikkei dived 3.1% to 20,663.32. Australia's S&P/ASX 200 lost 2.1% to 6,259.20. South Korea's Kospi dropped 2.
Exxon to cut activity in Permian Basin as oil prices plummet

Exxon to cut activity in Permian Basin as oil prices plummet

NEW YORK — Exxon Mobil said Thursday it plans to reduce the number of oil rigs operating in an oil-rich region in the Southwest and may cut planned capital expenditures as the spreading coronavirus saps energy demand.
A record low on average 30-year fixed mortgage: 3.29%

A record low on average 30-year fixed mortgage: 3.29%

Long-term U.S. mortgage rates have sunk to a record low, giving many homeowners an opening to refinance their loans to free up money to spend or save. The average rate on a 30-year fixed mortgage hit a record low of 3.29% this week from 3.
Virus ripples through travel, energy, financial markets

Virus ripples through travel, energy, financial markets

The economic affects of the coronavirus have preceded the spread of the virus itself, with financial markets swinging wildly, companies closing offices or asking employees work from home in affected areas, and throttling air travel across the globe.
'Simple greed': Ex-UAW leader Jones charged with corruption

'Simple greed': Ex-UAW leader Jones charged with corruption

DETROIT — Prosecutors on Thursday charged the former president of the United Auto Workers with corruption, alleging he plotted with others to embezzle more than $1 million to splurge on private villas, golf outings, boozy meals and horseback rides on

Martinrea reports net income of $51 million, says virus impacts modest so far

TORONTO — Martinrea International Inc. is raising its dividend after its fourth quarter profit increased despite the negative effects of the GM strike in the United States. The autoparts manufacturer says its payout will increase half a cent to 4.

Yukon forecasts surplus in 2020-21 budget as it cuts small business tax

WHITEHORSE — The Yukon government is forecasting a $4.1 million surplus in its 2020-21 budget, which includes funding for new schools and tax cuts.
Canada's largest airlines waiving fees to change flights because of coronavirus

Canada's largest airlines waiving fees to change flights because of coronavirus

TORONTO — Canada's largest airlines are waiving change fees in light of concerns about the novel coronavirus.
Federal government gives Big 3 telcos two years to bring down wireless prices

Federal government gives Big 3 telcos two years to bring down wireless prices

TORONTO — The federal government is giving Canada's three largest wireless carriers two years to bring prices down by 25 per cent and is setting aside spectrum in an upcoming auction in order to further boost competition.