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Powell: Recovery may begin by summer, will likely be slow

Powell: Recovery may begin by summer, will likely be slow

WASHINGTON — Federal Reserve Chair Jerome Powell expressed optimism Sunday that the U.S. economy can begin to recover from a devastating recession in the second half of the year, assuming the coronavirus doesn't erupt in a second wave.
Canadian communities and businesses to feel the pain of cruise cancellations

Canadian communities and businesses to feel the pain of cruise cancellations

TORONTO — Picturesque Peggy's Cove, N.S., is normally a great place to run a business but restaurant owner John Campbell hopes he can survive the cancellation of cruise ships this season because of COVID-19.
Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week

TORONTO — Five things to watch for in the Canadian business world in the coming week: Wholesale trade figures StatCan is scheduled to release wholesale trade figures for March on Wednesday. The agency reported that sales were up 0.7 per cent to $67.
Retail tenants hopeful over federal relief plan, but landlords reluctant to join

Retail tenants hopeful over federal relief plan, but landlords reluctant to join

Bill Pratt hasn't paid some $70,000 in rent for his restaurants in Atlantic Canada since April after having to shutter operations due to the COVID-19 pandemic and experiencing a "critical" sales drop.

Top doctor urges 'pause' over long weekend before businesses reopen Tuesday

VICTORIA — British Columbia's top doctor is urging residents to stay close to home over the long weekend in order to mitigate transmission of COVID-19 before some businesses reopen on Tuesday. Provincial health officer Dr.
Canada's 'inevitable' second wave of COVID-19 cases

Canada's 'inevitable' second wave of COVID-19 cases

TORONTO — No one knows when a fresh surge of COVID-19 cases will emerge in Canada, but experts agree numbers are poised to rise and could very well explode in surveillance blindspots.
Air Canada to lay off 20,000 workers amid travel industry collapse

Air Canada to lay off 20,000 workers amid travel industry collapse

MONTREAL — Air Canada will lay off more than half of its 38,000 employees next month as it grapples with the fallout from the COVID-19 pandemic.
Pandemic claims another retailer: 118-year-old J.C. Penney

Pandemic claims another retailer: 118-year-old J.C. Penney

NEW YORK — The coronavirus pandemic has pushed the storied but troubled department store chain J.C. Penney into Chapter 11 bankruptcy. It is the fourth major retailer to meet that fate.
Most US states fall short of recommended testing levels

Most US states fall short of recommended testing levels

WASHINGTON — As businesses reopened Friday in more of the U.S.
Fed sees Wall Street stress if virus takes 'unexpected' turn

Fed sees Wall Street stress if virus takes 'unexpected' turn

WASHINGTON — The Federal Reserve said Friday that Wall Street remains vulnerable to another shock if the global pandemic takes an “unexpected course” putting renewed strains on the economy and the country's financial system.