Business News Summary Headlines

Company releases, economic news, and business coverage.

Employers will need new policies, practices to tackle shift to work-from-home

As companies begin to think about a return of staff to their offices, some firms are looking at a more permanent shift to work-from-home through flexible arrangements or even shuttering some office spaces as the COVID-19 shutdown moves from weeks into months.

While employers may see savings from such arrangements due to lower real estate costs, experts say they will have to navigate a host of new circumstances around home office equipment, where employees are allowed to live and more.

Friday, June 05, 2020 | 04:20 PM

WestJet breaks ranks with carriers to offer refunds to some customers

WestJet Airlines Ltd. has quietly changed its refund policy to allow some customers whose flights were cancelled due to the pandemic to recoup their cash.

The move appears to make WestJet the first major Canadian carrier to offer refunds rather than credit to passengers whose trips were called off due to the COVID-19 crisis.

Friday, June 05, 2020 | 03:53 PM

VMedia launches live, on-demand streaming TV service

TORONTO - Independent internet service provider VMedia has launched its own live, on-demand streaming service.

Unlike offerings from the national telecom companies such as Bell's Alt TV, Rogers' Ignite and Telus' Pik TV, VMedia says subscriptions won't be tied to a corresponding Internet package.

Friday, June 05, 2020 | 03:21 PM

Trump hails jobs report, but unemployment rate still high

WASHINGTON - President Donald Trump took a victory lap Friday morning after the government reported surprising job gains for last month, seizing on the data to predict that the worst of the coronavirus pandemic and its economic disruption was in the rear-view mirror.

The unemployment rate dropped to a better-than-expected 13.3%, but that is still on par with what the nation witnessed during the Great Depression.

Friday, June 05, 2020 | 02:34 PM

Twitter disables Trump campaign's George Floyd video tribute

Twitter has blocked a Trump campaign video tribute to George Floyd over a copyright claim, in a move that adds to tensions between the social media platform and the U.S. president, one of its most widely followed users.

The company put a label on a video posted by the @TeamTrump account that said, “This media has been disabled in response to a claim by the copyright owner.” The video was still up on President Donald Trump’s YouTube channel and includes pictures of Floyd, whose death sparked widespread protests, at the start.

Friday, June 05, 2020 | 02:33 PM

National unemployment rate hits new record even as economy adds jobs

OTTAWA - Canada's employment minister says the federal government is rethinking a key COVID-19 benefit so workers have more incentive to get back on the job, in an effort to maintain a surprising boost in job numbers from May.

Statistics Canada reported that the country got back 289,600 jobs in May — which mirrored a similar bump in the U.S. — after three million jobs were lost over March and April and about 2.5 million more people had their hours slashed.

Friday, June 05, 2020 | 02:23 PM

Unemployment rate falls to 13.3%, US adds 2.5 million jobs

WASHINGTON - The U.S. unemployment rate fell to 13.3% in May from 14.7%, and 2.5 million jobs were added — a surprisingly positive reading in the midst of a recession that has paralyzed the economy in the wake of the viral pandemic.

The May job gain suggests that businesses have quickly been recalling workers as states have reopened their economies.

Friday, June 05, 2020 | 11:29 AM

Here's a quick glance at unemployment rates for May, by Canadian city

OTTAWA - The national unemployment rate was 13.7 per cent in May. Statistics Canada also released seasonally adjusted, three-month moving average unemployment rates for major cities. It cautions, however, that the figures may fluctuate widely because they are based on small statistical samples. Here are the jobless rates last month by city (numbers from the previous month in brackets):

— St. John's, N.L. 10.5 per cent (9.7)

Friday, June 05, 2020 | 09:00 AM

Here's a quick glance at unemployment rates for May, by province

OTTAWA - Canada's national unemployment rate was 13.7 per cent in May. Here are the jobless rates last month by province (numbers from the previous month in brackets):

— Newfoundland and Labrador 16.3 per cent (16.0)

Friday, June 05, 2020 | 09:00 AM

National employment numbers for May from Statistics Canada, at a glance

OTTAWA - A quick look at Canada's May employment (numbers from the previous month in brackets):

Unemployment rate: 13.7 per cent (13.0)

Friday, June 05, 2020 | 09:00 AM