National Business

MGM Resorts is laying off 18,000 people as an unchecked pandemic leaves economic scars across a broad swath of U.S. industries, particularly those that rely on healthy crowds of people. The layoffs at MGM, which amount to about a quarter of its U.

CALGARY — Statistics Canada says capital spending in the country's oil and gas sector fell by 54 per cent in the quarter ended June 30 as numerous producers chopped budgets amid sliding global oil prices.

SMITH FALLS, Ont. — Canopy Growth Corp. says it will open its first retail cannabis stores in Alberta. The Ontario-based company says it's set to open 10 stores under the Tweed and Tokyo Smoke banners and has additional locations in the pipeline.

WASHINGTON — U.S. consumers increased their spending by 1.9% last month, a dose of support for an economy struggling to emerge from the grip of a pandemic that has held back a recovery and kept roughly 27 million people jobless.

BERLIN — Amazon says it's buying 1,800 electric delivery vans from Mercedes-Benz, the biggest such order for the German automaker to date.

EDMONTON — CWB Financial Group reported its third-quarter profit fell compared with a year ago as its provisions for credit losses rose compared with 2019 due to the pandemic, but the bank still beat expectations.

DUBAI, United Arab Emirates — Israel has listed an El Al flight taking off Monday for Abu Dhabi, which would be Israel's first commercial passenger flight to the United Arab Emirates after the two countries agreed to a U.S.

WASHINGTON — The Federal Reserve announced a significant change Thursday in how it manages interest rates by saying it plans to keep rates near zero even after inflation has exceeded its 2% target level.

REGINA — Spending restraint is on the horizon in Saskatchewan as the province begins to dig itself out of a deficit Premier Scott Moe's government blames on the COVID-19 pandemic.

TORONTO — Losses in the materials and energy sectors pulled Canada's main stock index lower on Thursday as the price of both gold and oil fell and the dollar rose. The S&P/TSX composite index wound up down 58.48 points at 16,731.