Business

Canada Revenue Agency employees know a giant spotlight will be pointed at them come Monday. That's when they begin the monumental task of delivering on historic federal benefits meant to mitigate the disastrous economic effects of the COVID-19 pandemic. 32

Wall Street pushed higher Thursday after a surge in oil prices helped resuscitate beaten-down energy stocks. The gains helped overshadow another report showing the coronavirus outbreak is forcing a record-breaking number of Americans into the unemployment queue. 9

Canada's merchandise trade deficit narrowed to $983 million in February compared with $1.7 billion in January, as the economic impact of COVID-19 showed some of its first signs with a drop in trade with China. 9

Canadian National Railway Co. hit an all-time record for March grain movement.

Canadian businesses are watching some of the country's biggest companies handle virtual shareholder meetings. 9

A price war between Russia and Saudi Arabia could create a supply glut so epic that the world runs out of room to store all the unneeded barrels of oil.

Even in the middle of a global pandemic, Metro Vancouver home sales stayed steady through March, the Real Estate Board of Greater Vancouver says. 5

Cenovus Energy Inc. is temporarily suspending its dividend and cutting its capital spending plan by an additional $150 million on top of a reduction announced last month.

Canadian philanthropist Sophie Desmarais, daughter of Canadian financier Paul Desmarais, has donated $1 million to boost COVID-19 research in Montreal. 1

Japanese technology company SoftBank Group Corp. called off its offering of up to US$3 billion worth of shares in office-space rental venture WeWork, though it remains committed to its $5 billion bailout of the financially troubled company.

Shoppers are facing empty shelves at some stores due to unprecedented demand for food and other goods even as grocers assure Canadians coping with the COVID-19 outbreak that plenty of new items are on the way and manufacturers say they have the raw materials they need. 9

The COVID-19 pandemic has been a disaster for the restaurant industry, according to Restaurants Canada. 57

DesRosiers Automotive Consultants Inc. says auto sales plunged 48 per cent in March from last year because of the COVID-19 pandemic.