Business News Summary Headlines

Company releases, economic news, and business coverage.

Major residential landlords signal flexibility for tenants in need

TORONTO - Some of Canada's biggest residential landlords say they're committed to working with tenants who have lost their job because of the novel coronavirus pandemic.

The signals come as efforts to contain the outbreak have led to huge business disruptions and surging unemployment that have made many Canadians worried about how they will pay next month's rent.

Monday, March 30, 2020 | 03:53 PM

No adverse impacts from tritium spill at nuclear reactor, Bruce Power says

TORONTO - About 20 litres of heavy water containing radioactive tritium spilled in a weekend mishap at the nuclear plant near Kincardine, Ont., Bruce Power said on Monday.

The spill on the floor of the idled Unit 6 at Bruce B occurred during replacement of the reactor's major components.

Monday, March 30, 2020 | 03:50 PM

Ontario court rules against CIBC in overtime class-action lawsuit

TORONTO - An Ontario Superior Court judge has ruled against the Canadian Imperial Bank of Commerce in an overtime class-action lawsuit filed more than a decade ago.

Judge Edward Belobaba found the bank liable for breaching its overtime obligations to a class of about 31,000 current and former tellers, personal bankers and other front-line workers in branches across Canada.

Monday, March 30, 2020 | 03:31 PM

Some restaurateurs get rent relief, while others stress over April bills

Grace An nearly cried after the landlord for her downtown Toronto restaurant called with a compromise: pay half the roughly $5,000 rent in April and May, and pay back the other half over time when business, hopefully, returns to normal.

"This will stretch it out for me to not file for bankruptcy in like a month or two, or not make me empty my own savings to keep the business," she said.

Monday, March 30, 2020 | 01:31 PM

Ferry operators call for inclusion in COVID-19 travel restrictions

OTTAWA - As new restrictions came into effect barring people with symptoms of COVID-19 from planes and trains, ferry operators called for the federal government to ban such travellers from their vessels as well.

Prime Minister Justin Trudeau announced the travel ban for domestic flights and intercity trains over the weekend as the federal government escalated its efforts to curb the spread of the deadly respiratory illness across Canada.

Monday, March 30, 2020 | 01:18 PM

WestJet extends international flight suspensions into May amid COVID-19 pandemic

MONTREAL - WestJet Airlines Ltd. says it is cancelling all transatlantic and U.S. routes until May 4, extending its 30-day suspension by two more weeks.

The Calgary-based company will offer no flights to the U.S., Europe, Mexico, Central America and the Caribbean due to the COVID-19 pandemic that has shut borders and sent travel demand tumbling.

Monday, March 30, 2020 | 12:51 PM

Airline analysts unfazed by competition watchdog's warning about Air Canada deal

MONTREAL - The Competition Bureau's warning about Air Canada's proposed takeover of Transat AT Inc., which owns Air Transat, should be taken in context, analysts say.

The watchdog said Friday that eliminating the rivalry between the two Montreal-based carriers would discourage competition by prompting higher prices and fewer services, ultimately resulting in less travel by Canadians on a range of competing routes.

Monday, March 30, 2020 | 12:20 PM

Freshii delays financial results, cuts head office staff to reduce costs

TORONTO - Freshii Inc. is delaying the filing of its latest financial results as it deals with the COVID-19 pandemic and its impact on its restaurants and franchise partners.

The company says it has also temporarily "streamlined its head office workforce" in a move to cut costs. It did not say how many people were affected.

Monday, March 30, 2020 | 11:13 AM

Palliser Furniture temporarily laying off workers, closing Winnipeg facility

WINNIPEG - Palliser Furniture Ltd. is temporarily laying off 72 per cent of its workforce as it closes its Winnipeg facility for two weeks and looks to do the same at its Mexican facilities in the coming weeks.

The company employs 3,000 people around the world including close to 700 in Winnipeg.

Monday, March 30, 2020 | 10:55 AM

Parkland Fuel drains$300M from budget to deal with COVID-19 demand impact

CALGARY - Parkland Fuel Corp. is cutting its 2020 capital spending budget by 52 per cent and trimming executive salaries in response to the uncertain economic impact of the novel coronavirus.

The Calgary-based company, which sells fuel through more than 2,600 service stations throughout Canada and in the United States and Caribbean, says it plans to spend $275 million this year, down from its earlier guidance of $575 million.

Monday, March 30, 2020 | 10:55 AM