National Business

CALGARY — Shareholders in debt-laden Calgary-based Calfrac Well Services Ltd. have narrowly approved a recapitalization plan proposed by management, thus setting aside a takeover offer from Texas rival Wilks Brothers, LLC.

WASHINGTON — The federal budget deficit hit an all-time high of $3.1 trillion in the 2020 budget year, more than double the previous record, as the coronavirus pandemic shrank revenues and sent spending soaring.

LONDON — British Prime Minister Boris Johnson said Friday that the U.K.

NEW YORK — Instead of the expected debate between President Donald Trump and Democrat Joe Biden, television viewers were left Thursday with what ABC's David Muir called “split-screen America.

MONTREAL — Air Canada chief executive Calin Rovinescu will retire next year after leading the company for more than a decade, with the airline's longtime No. 2 set to inherit the role as the industry faces a once-in-a-generation crisis.

BERLIN — Europe's aviation regulator is closing in on a decision to allow the Boeing 737 Max to return to the air after it was grounded worldwide following two deadly crashes, according to a report Friday.

NEW YORK — Retail sales rose strongly in September, the fifth straight month of growth, as Americans spent more on clothing, cars and sporting goods. U.S. retail sales jumped 1.9% last month, the U.S. Commerce Department said Friday.

TORONTO — Five things to watch for in the Canadian business world in the coming week: Wholesale trade Statistics Canada will release wholesale trade numbers for August on Monday.

HALIFAX — The Nova Scotia government is offering $50 million in loan guarantees for the province's larger tourism operators struggling to deal with the COVID-19 pandemic.

WASHINGTON — U.S. industrial production fell 0.