National Business

TORONTO — Netflix is lowering video quality for its subscribers in Canada as it attempts to reduce soaring demands on internet bandwidth in the midst of the COVID-19 pandemic.

Cancelling March Madness because of the coronavirus pandemic will cost the NCAA about $375 million that it would have distributed to 350 schools across the nation. Some will be able to absorb the losses better than others.

DUBAI, United Arab Emirates — The head of the United Nations told leaders of the world’s 20 major industrialized nations during an emergency virtual summit Thursday that "we are at war with a virus — and not winning it” despite dramatic measures by c

MONTREAL — Cirque du Soleil says it hasn't made a decision on steps it will take to stay afloat after cancelling all of its shows and laying off almost all of its employees due to the COVID-19 pandemic.

VANCOUVER — Athleisure retailer Lululemon Athletica Inc. declined to provide a financial outlook for its current fiscal year as the impact of the COVID-19 pandemic unfolds.

WASHINGTON — Nearly 3.3 million Americans applied for unemployment benefits last week — almost five times the previous record set in 1982 — amid a widespread economic shutdown caused by the coronavirus.

TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (13,371.17 , up 243.94 points.) Aurora Cannabis Inc. (TSX:ACB). Health care. Up 20 cents, or 18.87 per cent, to $1.26 on 27.

TORONTO — Canada's main stock index has made back about a third of its recent losses with the first three-day rally since hitting a record high in February. The S&P/TSX composite index closed 243.94 points or 1.8 per cent higher at 13,371.17.

Jacqui Birchall is hoping for a full refund from WestJet after it cancelled her flight from Puerto Vallarta to Vancouver as part of its major capacity reduction in response to the COVID-19 pandemic.

MONTREAL — Two major Quebec media companies are announcing big cost-cutting measures that they say are necessary to deal with the economic fallout from the COVID-19 pandemic.