Survey: US manufacturing slides in March
WASHINGTON — American manufacturing slid in March, dragged down by economic fallout from the coronavirus outbreak.
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Auto parts and paint company Uni Select furloughs half of its 6,000 employees
BOUCHERVILLE, Que. — Uni-Select Inc. says approximately half of its employees are being furloughed and a third of its sites being…
Statistics Canada says economy growth in January slowed to 0.1 per cent
OTTAWA — Statistics Canada says economic growth slowed in January in a snapshot of the economy before the COVID-19 outbreak hit…
Magna withdraws guidance due to business uncertainty caused by COVID 19 outbreak
AURORA, Ont. — Magna International Inc. has withdrawn its 2020 outlook because of the "high degree of business uncertainty''…
Shrinking economy and rate cuts amid COVID crisis
TORONTO — A shrivelling economy, sharply higher federal deficit and lower interest rates are among the fallout of the COVID-19…
Bank of Canada cuts key interest rate target to 0.25 per cent
OTTAWA — The Bank of Canada is cutting its key interest target by half a percentage point to 0.25 per cent in an unscheduled rate…
Business, labour groups say Liberals’ COVID 19 wage subsidy too little to help
OTTAWA — A growing number of business and labour groups are urging the federal Liberals to up their promised wage subsidy to help…
Ontario set to temporarily reduce hydro rates: report
TORONTO — Ontario is expected to temporarily cut electricity rates for customers as the economy slows due to steps taken the…
Fed to buy unlimited government debt and lend to businesses
WASHINGTON — In its boldest effort to protect the US economy from the coronavirus, the Federal Reserve says it will buy as much…
Factories pivot to fight coronavirus, but challenges abound
DETROIT — Factories that crank out cars and trucks looking into making much-needed ventilators. Distilleries intended for whiskey…