National Business

TORONTO — Spin Master Corp. says it had a net loss of US$26.7 million in the first quarter as it struggled with supply chain issues and the COVID-19 outbreak. The company, which reports in U.S.

TORONTO — Canada's main stock index inched higher midweek as Shopify Inc. overtook the Royal Bank of Canada to become the country's most valuable company thanks in part to a boom in online shopping while Canadians adopt physical distancing.

OTTAWA — Shopify Inc. overtook RBC as the most valuable Canadian company Wednesday after the company's share price climbed on signs demand for online commerce is higher than ever.

The New York Times Co. added new digital subscribers at a record rate as the coronavirus spread in the first quarter, helping offset shrinking ad revenues.

OSHAWA, Ont. — General Motors says it plans to restart some production at its engine plant in St. Catharines, Ont. next week ahead of a wider restart of North American operations the week of May 18.

CALGARY — Consumer demand for fuel is growing slightly after a sudden decline due to measures to deal with the COVID-19 pandemic but the CEO of Suncor Energy Inc.

TORONTO — Barrick Gold Corp. has withdrawn production guidance for its Porgera gold mine in Papua New Guinea after suspending operations amid a dispute with the national government over an extension of its expired mining permit.

DETROIT — General Motors' first-quarter net income fell 88%, but it still managed to make $247 million despite the arrival of the global coronavirus pandemic. U.S. automakers suspended production in much of the world in late March.

TORONTO — Torstar Corp. lost $23.

BALTIMORE — U.S. businesses cut an unprecedented 20.2 million jobs in April, an epic collapse with coronavirus outbreak closing the offices, factories, schools, construction sites and stores that propel the U.S. economy.