National Business

CALGARY — The Petroleum Services Association of Canada is cutting its 2020 Canadian drilling forecast for a third time as the industry remains mired in a slump expected to extend well into the second half of the year.

Canadians may have clamoured to snatch up cannabis products as COVID-19 ravaged the country, but the demand was not enough to keep Aphria Inc. from incurring a multimillion-dollar loss and impairment charge. The Leamington, Ont.

CALGARY — The main export system for Western Canada's oil production is recovering after volumes fell by less than feared amid the COVID-19 economic slowdown in the second quarter, pipeline company Enbridge Inc. reported Wednesday.

COVID-19 is proving to be no match for Shopify Inc., which nearly doubled revenues and reported US$36 million in profits as the pandemic raged across Canada.

TORONTO — Organizers behind the annual Elevate tech festival say they are cancelling this year's event because of the COVID-19 pandemic.

MONTREAL — Dialogue Technologies Inc. says it has formed a partnership with Sun Life Financial Inc. that will see the insurance provider become a minority owner of the telemedicine business.

SILVER SPRING, Md. — The number of Americans signing contracts to buy homes rose for the second straight month after a devastating spring freeze brought on by the coronavirus outbreak.

NEW YORK — In a sign of how the pandemic is remaking Hollywood traditions, AMC Theatres and Universal Studios on Tuesday announced an agreement to shorten the exclusive theatrical window to just 17 days for the studio's films.

SASKATOON — Cameco Corp. missed earnings expectations as it lost $53 million in the second quarter despite a 35 per cent growth in revenues.

MONTREAL — CGI Inc. is reporting a softer fiscal third quarter with earnings dropping 16 per cent on lower revenues. The Montreal-based business and technology consulting firm says it earned $260.