Business News Summary Headlines

Company releases, economic news, and business coverage.

Most actively traded companies on the TSX

TORONTO - Some of the most active companies traded Friday on the Toronto Stock Exchange:

Toronto Stock Exchange (15,713.82, up 145.18 points.)

Friday, July 10, 2020 | 05:07 PM

TSX ends week higher on positive sentiment from potential virus treatment

TORONTO - Canada's main stock index ended higher for a second-straight week on positive sentiment from a potential COVID-19 treatment and strong domestic jobs numbers.

The S&P/TSX composite index closed up 145.18 points at 15,713.82 for a gain of 117 points over the week.

Friday, July 10, 2020 | 05:03 PM

Canadian economy adds 953,000 jobs in June, unemployment rate falls

OTTAWA - Nearly one million more Canadians had jobs in June than a month earlier, Statistics Canada says, as businesses forced to close by the pandemic began to reopen and the country continued to recoup the steep losses over March and April.

Statistics Canada's labour force survey released Friday showed 953,000 jobs were added last month, including 488,000 full-time and 465,000 part-time positions. The unemployment rate fell to 12.3 per cent after hitting a record-high of 13.7 per cent in May.

Friday, July 10, 2020 | 04:36 PM

Manitoba says aid programs could be tweaked to help more workers return

WINNIPEG - Manitoba has posted one of the strongest employment rebounds in the country during the COVID-19 pandemic, Statistics Canada numbers show.

The agency's monthly jobs report released Friday says 28,900 more Manitobans were working in June compared with May, and May's numbers had already jumped from April's. Total employment by June had recovered to 93 per cent of what it was in February before the pandemic began — the second-highest rate among the provinces behind New Brunswick.

Friday, July 10, 2020 | 04:29 PM

Scholars Choice closing all but three of its stores in a restructuring

LONDON, Ont. - Retailer Scholar's Choice is closing all but three of its stores as part of a restructuring of its operations to focus on its e-commerce and catalogue business.

The seller of educational toys, teaching materials and early childhood furniture and toys says it has filed for creditor protection through a notice of intention to propose a reorganization plan to restructure the company.

Friday, July 10, 2020 | 03:02 PM

Shell's Quest carbon capture project hits milestone of five million tonnes

CALGARY - Shell Canada says the Quest carbon capture and storage project north of Edmonton has reached the milestone of five million tonnes of stored carbon dioxide, equivalent to the annual emissions of about 1.25 million cars.

It says the accomplishment was achieved ahead of schedule and has been attained at a lower cost than expected.

Friday, July 10, 2020 | 01:38 PM

America's worsening COVID-19 crisis has some Canadians barring the border door

WASHINGTON - A Canadian cabinet minister was among the guests waiting in the virtual wings of a recent Zoom panel when the moderator posed one last question to the chairman of the U.S. House Intelligence Committee, promising the discussion would "move to Canada" next.

Rep. Adam Schiff couldn't resist: "We may all be moving to Canada soon," he deadpanned.

Friday, July 10, 2020 | 01:14 PM

Barrick joint venture takes Papua New Guinea mine scrap to World Bank arbitrator

TORONTO - Owners of the Porgera gold mine in Papua New Guinea say they are going to the World Bank’s International Centre for Settlement of Investment Disputes to try to resolve a battle with the federal government that resulted in closing of the mine.

Barrick Niugini Ltd., the joint venture mine operator that is owned 47.5 per cent each by Canada's Barrick Gold Corp. and partner Zijin Mining Group of China, suspended production in April and placed the mine on care and maintenance status.

Friday, July 10, 2020 | 01:12 PM

Judge rejects Dakota Access pipeline request to stop closure

BISMARCK, N.D. - A federal judge rejected a request from the operator of the Dakota Access Pipeline to halt an order to shut down the oil pipeline during a lengthy environmental review.

U.S. District Judge James Boasberg denied the company’s request Thursday, effectively sending the case to a panel of judges on the U.S. Court of Appeals for the District of Columbia Circuit.

Friday, July 10, 2020 | 11:28 AM

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

OTTAWA - The national unemployment rate was 12.3 per cent in June. 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. 11.6 per cent (10.5)

Friday, July 10, 2020 | 09:12 AM