National Business

CALGARY — A $1.2-billion writedown in the value of its oil and gas assets around the world due to low global commodity prices resulted in a first-quarter net loss of $1.3 billion or $8.42 per share for Vermilion Energy Inc.

VANCOUVER — West Fraser Timber Co. Ltd. says it is withdrawing its production outlook for the year due to the uncertain impact of measures to cope with the COVID-19 pandemic.

MONTREAL — Quebec's economic recovery plan unveiled Tuesday aims to reopen the province's retail, construction and manufacturing sectors by mid-May, allowing roughly 500,000 people who had been temporarily laid off during the pandemic to return to wo

MONTREAL — Bombardier Inc.

TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (14,798.29, up 156.18 points.) Manulife Financial Corp. (TSX:MFC). Financials. Up 37 cents, or 2.27 per cent, to $16.

TORONTO — Canada's main stock index outpaced U.S. markets Tuesday as the energy sector led despite further softness in crude oil prices. The S&P/TSX composite index closed up 156.18 points at 14,798.29, the highest level in more than seven weeks.

TORONTO — McDonald's Canada says it will start importing beef as Canada's beef supply chain struggles to meet current demand amid COVID-19.

The cancellation of business conferences and conventions across the country is costing cities hundreds of millions of dollars in lost revenue as the COVID-19 pandemic devastates the tourism industry.

Postmedia Network Inc. will lay off about 80 employees and permanently close 15 community publications as the newspaper conglomerate navigates the financial fallout of COVID-19.

CALGARY — Calfrac Well Services Ltd. says it has now cut 70 per cent of its North American staff as demand for its hydraulic fracturing and other well completion services continues to fall in view of low oil prices.