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National Business

ADP: More than 20 million jobs vanished in April

ADP: More than 20 million jobs vanished in April

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.
HGTV, Food Network helped by coronavirus stay-at-homes

HGTV, Food Network helped by coronavirus stay-at-homes

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.
Norbord cuts dividend due to pandemic, reports Q1 profit up from year ago

Norbord cuts dividend due to pandemic, reports Q1 profit up from year ago

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.
Crescent Point reports $2.32-billion Q1 loss due to plunge in oil prices

Crescent Point reports $2.32-billion Q1 loss due to plunge in oil 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.
EU forecasts 'recession of historic proportions' this year

EU forecasts 'recession of historic proportions' this year

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.
Family of dead crew member with virus sues Royal Caribbean

Family of dead crew member with virus sues Royal Caribbean

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.
Suncor loss reaches $3.5 billion on asset impairments due to low oil prices

Suncor loss reaches $3.5 billion on asset impairments due to low oil prices

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.
Airbnb laying off 1,900 employees due to travel decline

Airbnb laying off 1,900 employees due to travel decline

Airbnb says it is laying off 25% of its workforce as it confronts a steep decline in global travel due to the new coronavirus pandemic.
Mortgage, housing agency says home prices won't recover from COVID for years

Mortgage, housing agency says home prices won't recover from COVID for years

TORONTO — Canada Mortgage and Housing Corp. officials said Tuesday they expect real estate prices won't return to pre-recession levels until late 2022 at the earliest.

Most actively traded companies on the TSX

TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (14,811.56, up 66.52 points.) Bombardier Inc. (TSX:BBD.B). Industrials. Up 3.5 cents, or 7.07 per cent, to 53 cents on 17.