National Business

Molson Coors Beverage Co. shares fell more than 10 per cent after the beer maker said it expects a challenging second quarter due to the COVID-19 pandemic. The company's shares fell $7.25, or 10.62 per cent, to $61.

CALGARY — The Petroleum Services Association of Canada has revised its 2020 Canadian drilling forecast to an almost 50-year record low of 3,100 oil and gas wells, a level not seen since 2,900 wells were drilled in 1972.

CALGARY — Oil producer Whitecap Resources Inc. says it is planning for "involuntary shut-ins" of production as North American crude storage levels threaten to exceed capacity and commodity prices remain at low levels.

WASHINGTON — The Federal Reserve announced Thursday that it was expanding a major lending program to provide support for businesses struggling to cope with the economic disruptions caused by the coronavirus pandemic.

WASHINGTON — Long-term mortgage rates tumbled to all-time lows this week as the economy and housing market continued to reel from the business and social shutdown spurred by the coronavirus pandemic.

TORONTO — Clobbered by anti-pandemic measures that have stifled travel and grounded much of the world's commercial aviation, Canada's airports are predicting around $2 billion in lost revenues this year.

McDonald's says it has likely reached the trough of global restaurant closures due to COVID-19, with 25% still shuttered. But business has been slow to return as lockdown orders continue to disrupt consumers' routines.

TORONTO — Motorists are advised to fasten their seatbelts for a very different spring car-buying season. In addition to complicating the shopping experience, the COVID-19 pandemic could have an impact on selection, price and financing, say experts.

OTTAWA — Economic growth in Canada stalled in February ahead of the collapse in March due to the COVID-19 pandemic, Statistics Canada said Thursday.

FRANKFURT — The European Central Bank is stepping up its efforts to cushion the economy against a record downturn that the bank's president, Christine Lagarde, said was “of a magnitude and speed that are unprecedented in peacetime.