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Torstar buyer says Canso picked to provide financing because of media experience

TORONTO — A private investment company that is a major backer of Postmedia Network Corp. has agreed to provide financing for NordStar Capital's acquisition of Torstar Corp., the owner of the Toronto Star and other newspapers.

US consumer spending sinks by record 13.6% in face of virus

WASHINGTON — U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession.
CannTrust Holdings greenhouse licenses reinstated, plans restart of operations

CannTrust Holdings greenhouse licenses reinstated, plans restart of operations

VAUGHAN, Ont. — CannTrust Holdings Inc. says Health Canada has reinstated its licences for its greenhouse in Niagara and that it will immediately restart operations.
Canopy Growth reports $1.3B fourth-quarter loss, hits reset on strategic focus

Canopy Growth reports $1.3B fourth-quarter loss, hits reset on strategic focus

Canopy Growth Corp. is rethinking its first-to-every-market strategy after reporting a $1.3-billion loss in its fourth quarter. The Smith Falls, Ont.
Twitter adds 'glorifying violence' warning to Trump tweet

Twitter adds 'glorifying violence' warning to Trump tweet

WASHINGTON — Twitter has added a warning to one of President Donald Trump's tweets about protests in Minneapolis, saying it violated the platform's rules about “glorifying violence.
Laurentian Bank Financial Group reports Q2 profit down, cuts quarterly dividend

Laurentian Bank Financial Group reports Q2 profit down, cuts quarterly dividend

MONTREAL — Laurentian Bank Financial Group reported its second-quarter profit fell nearly 80 per cent from a year ago and it cut its dividend in a move to give it more flexibility during the COVID-19 pandemic.

CWB Financial reports Q2 profit down as provisions for credit losses soar

EDMONTON — CWB Financial Group reported its second-quarter profit fell compared with a year ago as the economy tanked due to the steps taken to slow the COVID-19 pandemic and its provisions for credit losses more than doubled.
StatCan expected to report GDP down nine per cent in March, 10 per cent in Q1

StatCan expected to report GDP down nine per cent in March, 10 per cent in Q1

OTTAWA — Statistics Canada is expected to report today that economic growth swung negative in March and the first quarter as a whole due to the COVID-19 pandemic.
French carmaker Renault announces 15,000 job cuts worldwide

French carmaker Renault announces 15,000 job cuts worldwide

PARIS — Struggling French carmaker Renault on Friday announced 15,000 job cuts worldwide as part of a 2 billion-euro cost-cutting plan over three years.
Aimia vows to fight Air Canada's court move to halt upcoming merger

Aimia vows to fight Air Canada's court move to halt upcoming merger

TORONTO — Aimia Inc. says it plans to defend itself against a move by Air Canada in Quebec Superior Court to halt a merger that the smaller company sees as key to its corporate reinvention.