National Business

TORONTO — Norbord Inc. cut its dividend due to the uncertainty caused by the pandemic as it reported a profit in its first quarter, boosted by higher oriented strand board prices and lower raw material and energy prices.

CALGARY — Crescent Point Energy Corp. reported a $2.32-billion first-quarter loss as it took a non-cash charge of $3.56 billion due to the plunge in oil prices. The company says the loss amounted to $4.

BRUSSELS — The European Union predicted Wednesday “a recession of historic proportions this year” due to the impact of the coronavirus as it released its first official estimates of the damage the pandemic is inflicting on the bloc’s economy.

MIAMI — The family of a cruise crew member who died after testing positive for COVID-19 filed a lawsuit against Royal Caribbean Cruises on Tuesday saying the company failed to protect its employees as the pandemic ravaged sailings around the world.

CALGARY — Suncor Energy Inc. is reporting a first-quarter net loss of $3.525 billion mainly due to asset impairments linked to low oil prices, compared with net earnings of $1.47 billion in the same quarter of last year.

Airbnb says it is laying off 25% of its workforce as it confronts a steep decline in global travel due to the new coronavirus pandemic.

TORONTO — Canada Mortgage and Housing Corp. officials said Tuesday they expect real estate prices won't return to pre-recession levels until late 2022 at the earliest.

TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (14,811.56, up 66.52 points.) Bombardier Inc. (TSX:BBD.B). Industrials. Up 3.5 cents, or 7.07 per cent, to 53 cents on 17.

TORONTO — Technology and utilities led Canada's main stock index higher Tuesday while the price of crude rose for a fifth-straight day. Shopify Inc.

CALGARY — Analysts say an Enbridge Inc. plan to use an idled leg of its Mainline pipeline system to store surplus Western Canadian oil will help offset lower volumes on the system as U.S. refineries buy less oil to match lower demand.