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National Business

Greater Toronto Airport Authority cutting 500 positions due to drop in traffic

Greater Toronto Airport Authority cutting 500 positions due to drop in traffic

TORONTO — The operator of Canada's largest airport is cutting the size of its workforce by 27 per cent, including some of its management, due to a reduction of air traffic due to the COVID-19 pandemic.
Spiking cost of gasoline pushes June consumer prices up 0.6%

Spiking cost of gasoline pushes June consumer prices up 0.6%

WASHINGTON — U.S. consumer prices increased 0.6% in June, after three months of declines, with a big jump in gasoline prices accounting for over half of the gain.

Oilpatch optimism expected to rise as difficult second-quarter finally ends

CALGARY — A rebound in oil prices as consumer demand for gasoline rises will buoy energy companies as they give quarterly results starting next week, but analysts say there are still too many uncertainties to expect any new spending in the sector.
Calfrac Well Services seeks to swap shares for debt in recapitalization plan

Calfrac Well Services seeks to swap shares for debt in recapitalization plan

CALGARY — Calfrac Well Services Ltd. is seeking to restructure in a plan that will see its debtholders swap unsecured notes for shares in the company.
WestJet increasing service for August, but still remains fall below a year ago

WestJet increasing service for August, but still remains fall below a year ago

CALGARY — WestJet plans to restart non-stop flights from Calgary to London and Paris next month as it slowly increases the number of flights it offers this summer. The airline says it will resume the flights to London and Paris starting Aug. 20.
US budget deficit hits all-time high of $864 billion in June

US budget deficit hits all-time high of $864 billion in June

WASHINGTON — The federal government incurred the biggest monthly budget deficit in history in June as spending on programs to combat the coronavirus recession exploded while millions of job losses cut into tax revenues.
Pieridae Energy says engineering company seeking exit from Goldboro LNG deal

Pieridae Energy says engineering company seeking exit from Goldboro LNG deal

CALGARY — The engineering company hired to build the proposed Goldboro LNG export facility in Nova Scotia is withdrawing from an agreement to provide a fixed price contract for the job, developer Pieridae Energy Ltd. said Monday.
Experts believe Edmonton will change its CFL team name

Experts believe Edmonton will change its CFL team name

As pressure mounts for professional sports teams to shed racist or stereotypical names, experts believe the Canadian Football League's Edmonton Eskimos will soon announce a name change.

Most actively traded companies on the TSX

TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (15,639.41, down 74.41 points.) The Toronto-Dominion Bank (TSX:TD). Financials. Up 84 cents, or 1.4 per cent, to $60.
North American stock markets reverse from strong morning gains on vaccine hopes

North American stock markets reverse from strong morning gains on vaccine hopes

TORONTO — North American stock markets plunged after a strong start to the week as a slide from Tesla Inc. and big tech company shares reversed a morning surge.