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Gildan suspends dividend, cuts executive pay after losing nearly US$100M in Q1

Gildan suspends dividend, cuts executive pay after losing nearly US$100M in Q1

MONTREAL — Gildan Activewear Inc. says it is suspending its quarterly dividend and cutting executive compensation after losing nearly US$100 million in its first quarter due to the global impact of the COVID-19 pandemic.
No short-term end to oil price slump hitting Alberta: premier

No short-term end to oil price slump hitting Alberta: premier

EDMONTON — Premier Jason Kenney says a global oil glut means Alberta's main industry will be dealing with low prices for a year or longer after the COVID-19 crisis abates.
Aimia CEO out as overhauled board charts new course, slashes payroll

Aimia CEO out as overhauled board charts new course, slashes payroll

MONTREAL — Aimia Inc. has replaced its CEO and shaken up its board in a sweeping move to reinvent itself as a holding company that will see it shed its rewards programs and the bulk of its staff.

Most actively traded companies on the TSX

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (15,228.11, up 429.82 points.) Bombardier Inc. (TSX:BBD.B). Industrials. Up five cents, or 11.63 per cent, to 48 cents on 24.
Toronto stock market soars to near eight-week high on surging energy sector

Toronto stock market soars to near eight-week high on surging energy sector

TORONTO — Canada's main stock index soared to a near eight-week high Wednesday as the energy sector surged despite producers posting big losses as they cut oil production amid low crude prices. The S&P/TSX composite index closed up 429.
A&W reports same-store sales down 4% due to COVID-19 pandemic

A&W reports same-store sales down 4% due to COVID-19 pandemic

VANCOUVER — A&W restaurant sales have fallen sharply since the COVID-19 pandemic started to grow in Canada in mid-March, according to the A&W Revenue Royalties Income Fund.
Economists agree: No quick rebound from recession is likely

Economists agree: No quick rebound from recession is likely

WASHINGTON — Devastated by the coronavirus, the U.S. economy is sinking. And the plunge is accelerating.
Boeing to cut 10% of work force as 1Q revenue, profit slide

Boeing to cut 10% of work force as 1Q revenue, profit slide

Boeing outlined plans Wednesday to cut 10% of its workforce, slow production of new planes and raise more cash to survive a downturn in business that started with the grounding of its bestselling jet and has accelerated with a deep slump in air trave

Ontario Energy Association calls for end to most hydro subsidies

TORONTO — The association representing Ontario's energy producers and distributors says the province should stop subsidizing the price of hydro and instead offer targeted help to customers who need it most.
Canopy Growth lays off 200 workers in third cut made since March

Canopy Growth lays off 200 workers in third cut made since March

SMITHS FALLS, Ont. — Canopy Growth Corp. says it will be cutting 200 workers in its third round of cuts in the last two months. The Smiths Falls, Ont.