March 31st, 2020

Business

Wall Street pushes higher, led by health care stocks

By Stan Choe, The Associated Press on March 30th, 2020

NEW YORK – U.S. stocks are pushing a bit higher in Monday morning trading, but markets were tentative around the world amid uncertainty about whether global authorities can do enough to nurse the economy through the coronavirus outbreak. The S&P 500 was up nearly 2% in morning trading, renewing gains after falling close to the ... Read More »

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Palliser Furniture temporarily laying off workers, closing Winnipeg facility

By The Canadian Press on March 30th, 2020

WINNIPEG – Palliser Furniture Ltd. is temporarily laying off 72 per cent of its workforce as it closes its Winnipeg facility for two weeks and looks to do the same at its Mexican facilities in the coming weeks. The company employs 3,000 people around the world including close to 700 in Winnipeg. The layoffs come ... Read More »

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Parkland Fuel drains$300M from budget to deal with COVID-19 demand impact

By The Canadian Press on March 30th, 2020

CALGARY – Parkland Fuel Corp. is cutting its 2020 capital spending budget by 52 per cent and trimming executive salaries in response to the uncertain economic impact of the novel coronavirus. The Calgary-based company, which sells fuel through more than 2,600 service stations throughout Canada and in the United States and Caribbean, says it plans ... Read More »

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Airline analysts unfazed by competition watchdog’s warning about Air Canada deal

By The Canadian Press on March 30th, 2020

MONTREAL – Analysts say the Competition Bureau’s warning about Air Canada’s proposed takeover of Transat AT Inc., which owns Air Transat, should be taken in context. The watchdog said Friday that eliminating the rivalry between the two Montreal-based carriers would discourage competition by prompting higher prices and fewer services, ultimately resulting in less travel by ... Read More »

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Inter Pipeline cuts dividend and exec pay, suspends sale of bulk liquids storage

By The Canadian Press on March 30th, 2020

CALGARY – Inter Pipeline Ltd. is reducing its dividend by more than 70 per cent and suspending its dividend reinvestment plan as it deals with the drop in energy prices and the COVID-19 pandemic. The company says it will now pay a monthly dividend of four cents per share, down from its earlier payment of ... Read More »

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S&P/TSX composite down in early trading to start week, loonie down against US$

By The Canadian Press on March 30th, 2020

TORONTO – Canada’s main stock index was down in early trading to start the trading week as the price of oil moved lower, while U.S. stock markets were up. The S&P/TSX composite index was down 56.86 points at 12,630.88. In New York, the Dow Jones industrial average was up 161.35 points at 21,798.13. The S&P ... Read More »

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Stocks inch up amid uncertainty about virus toll; oil falls

By The Associated Press on March 30th, 2020

NEW YORK – Stocks are opening higher on Wall Street Monday in more volatile trading as investors try to assess whether global authorities can do enough to nurse the economy through the damage caused by the coronavirus outbreak. The S&P 500 rose 1% in early trading. European markets were mixed after erasing earlier losses. Asian ... Read More »

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Spain passes China in infections; Trump extends US lockdown

By Aritz Parra, Vladimir Isachenkov And David Rising, The Associated Press on March 30th, 2020

MADRID – In an abrupt turnaround, President Donald Trump extended lockdown measures across the United States as deaths in New York from the new coronavirus passed 1,000. Spain on Monday became the third country to surpass China in infections after the United States and Italy. With a population of only 47 million to China’s 1.4 ... Read More »

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City at centre of China’s virus outbreak gradually revives

By Ng Han Guan And Joe McDonald, The Associated Press on March 30th, 2020

WUHAN, China – Shopkeepers in the city at the centre of China’s virus outbreak were reopening Monday but customers were scarce after authorities lifted more of the anti-virus controls that kept tens of millions of people at home for two months. “I’m so excited, I want to cry,” said a woman on one of Wuhan’s ... Read More »

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Offer made to Centerra Gold for its stake in Ontario gold project

By The Canadian Press on March 30th, 2020

THUNDER BAY, Ont. – Premier Gold Mines Ltd. says an offer has been made to acquire Centerra Gold Inc.’s 50 per cent stake in the Greenstone Gold Mines Partnership in a deal it says it worth US$205 million. The partnership’s principal asset is the Hardrock Mine project near Geraldton, Ont. Premier, which holds the other ... Read More »

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Stocks extend losses, oil trades below $20 on virus impact

By Elaine Kurtenbach, The Associated Press on March 30th, 2020

BANGKOK – World markets started the week with more losses as countries reported surging numbers of infections from the coronavirus, forcing prolonged shutdowns of travel and business in many regions. Shares fell in London, Paris and Tokyo on Monday but surged 7% in Australia after the government promised more recession-fighting stimulus. The U.S. contract for ... Read More »

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