National Business

DETROIT — General Motors' first-quarter net income fell 88%, but it still managed to make $247 million despite the arrival of the global coronavirus pandemic. U.S. automakers suspended production in much of the world in late March.

New rules, which take effect January 2022, apply to low-rise homes no more than three storeys tall

TORONTO — Torstar Corp. lost $23.

BALTIMORE — U.S. businesses cut an unprecedented 20.2 million jobs in April, an epic collapse with coronavirus outbreak closing the offices, factories, schools, construction sites and stores that propel the U.S. economy.

NEW YORK — Americans stuck at home staring at fading furniture and wondering what to cook for dinner have been a boon for television networks like HGTV and the Food Network.

TORONTO — Norbord Inc. cut its dividend due to the uncertainty caused by the pandemic as it reported a profit in its first quarter, boosted by higher oriented strand board prices and lower raw material and energy prices.

CALGARY — Crescent Point Energy Corp. reported a $2.32-billion first-quarter loss as it took a non-cash charge of $3.56 billion due to the plunge in oil prices. The company says the loss amounted to $4.

BRUSSELS — The European Union predicted Wednesday “a recession of historic proportions this year” due to the impact of the coronavirus as it released its first official estimates of the damage the pandemic is inflicting on the bloc’s economy.

MIAMI — The family of a cruise crew member who died after testing positive for COVID-19 filed a lawsuit against Royal Caribbean Cruises on Tuesday saying the company failed to protect its employees as the pandemic ravaged sailings around the world.

CALGARY — Suncor Energy Inc. is reporting a first-quarter net loss of $3.525 billion mainly due to asset impairments linked to low oil prices, compared with net earnings of $1.47 billion in the same quarter of last year.