August 14th, 2020

Business

Facebook beefs up anti-misinfo efforts ahead of US election

By Barbara Ortutay, The Associated Press on August 13th, 2020

OAKLAND, Calif. – Beginning Thursday, U.S. Facebook users who post about voting may start seeing an addendum to their messages — labels directing readers to authoritative information about the upcoming presidential election. It’s the social network’s latest step to to combat election-related misinformation on its platform as the Nov. 3 election nears – one in ... Read More »

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McDonald’s returns to 100% Canadian beef after COVID-19 supply chain issues

By The Canadian Press on August 13th, 2020

TORONTO – McDonald’s Canada says it will return to sourcing only Canadian beef in September after having to import beef temporarily due to COVID-19. The fast-food chain said in late April it would import beef from pre-approved suppliers and facilities outside the country due to limited processing capacity at Canadian suppliers. The news came after ... Read More »

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S&P/TSX composite ticks higher as gold regains lustre, U.S. stock markets mixed

By The Canadian Press on August 13th, 2020

TORONTO – Canada’s main stock index crept higher in late-morning trading as gold regained some of the lustre it lost earlier this week and shares in the big gold miners regained some of the ground they had lost. The S&P/TSX composite index was up 2.65 points at 16,577.93. In New York, the Dow Jones industrial ... Read More »

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Chinese miner hires Canadian CEO as review continues on Nunavut gold mine buy

By The Canadian Press on August 13th, 2020

TORONTO – The Chinese company trying to buy TMAC Resources Ltd. has appointed a Barrick Gold Corp. veteran as CEO of its Canadian operations even though the deal is still being reviewed by Ottawa. Hong Kong-traded Shandong Gold Mining Co. Ltd. says it has appointed Mark Wall as CEO of Streamers Gold Mining Corp. Ltd., ... Read More »

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Chorus Aviation reports Q2 profit down as regional passenger number plunge 97%

By Christopher Reynolds, The Canadian Press on August 13th, 2020

Chorus Aviation Inc. saw profits fall and passenger numbers nosedive as the economic impact of COVID-19 took its toll on the airline last quarter. Profits dropped by 25 per cent and revenue tumbled 45 per cent at the regional aviation company, which suffered from plummeting demand amid travel restrictions. “I sincerely hope more employee reductions ... Read More »

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Ontario records 78 new COVID-19 cases, though Toronto not included

By The Canadian Press on August 13th, 2020

TORONTO – Ontario is reporting 78 new cases of COVID-19 today and no new deaths from the novel coronavirus, but Health Minister Christine Elliott says today’s numbers do not include data from Toronto Public Health. Elliott also says hospitalizations due to the virus declined over the previous 24 hours, while the number of patients in ... Read More »

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Budget watchdog says COVID-19 wage subsidy might cost less than predicted

By The Canadian Press on August 13th, 2020

OTTAWA – Canada’s official fiscal watchdog says the federal wage subsidy program might cost $14 billion less than the government predicted. A new report today by Parliamentary Budget Office analyst Ben Segel-Brown estimates subsidizing wages for companies during the COVID-19 pandemic will cost $67.9 billion through the end of December. Finance Minister Bill Morneau estimated ... Read More »

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Why anyone who deferred mortgage payments should check their credit score

By Anita Balakrishnan, The Canadian Press on August 13th, 2020

TORONTO – Hundreds of thousands of Canadians have been negotiating with lenders over the past few months, hoping to hold off paying debt amid the COVID-19 pandemic. Now, those payments are beginning to filter through the credit reporting system. “We have seen the average number of accounts that are in a payment deferral status triple ... Read More »

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S&P/TSX composite down in early trading, U.S. stock markets mixed

By The Canadian Press on August 13th, 2020

TORONTO – Canada’s main stock index ticked lower in early trading, weighed down by losses in the financial and industrial sectors, while U.S. stock markets were mixed. The S&P/TSX composite index was down 14.93 points at 16,560.35. In New York, the Dow Jones industrial average was down 72.46 points at 27,904.38. The S&P 500 index ... Read More »

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Chorus Aviation reports Q2 profit down from year ago due to pandemic

By The Canadian Press on August 13th, 2020

HALIFAX – Chorus Aviation Inc. reported its second-quarter profit fell compared with a year ago as the economic impact of COVID-19 took its toll on the company. The regional aviation company says it earned $29.2 million or 18 cents per diluted share for the quarter ended June 30, down from $38.9 million or 24 cents ... Read More »

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AMC to offer 15-cent tickets on first day of reopening

By Jake Coyle, The Associated Press on August 13th, 2020

NEW YORK – AMC Theatres, the nation’s largest movie theatre chain, will reopen in the U.S. on Aug. 20 with retro ticket prices of 15 cents per movie. AMC Entertainment, which owns the chain, said Thursday that it expects to open the doors to more than 100 cinemas – or about a sixth of its ... Read More »

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