National Business

TORONTO — Canadian Imperial Bank of Commerce is in the midst of an overhaul involving job losses and a slew of new faces in top roles with a goal of simplifying the bank.

MONTREAL — The Desjardins Group says last year's theft of the personal data of its 4.2 million members ultimately cost the co-operative $108 million.

TORONTO — Torstar Corp. reported a profit in its fourth-quarter, boosted by one-time gains related to its pension plans and the sale of two real estate properties in Ontario, even as print revenue continued to decline.

TORONTO — GMP Capital Inc. has signed an agreement to acquire the stake in investment manager Richardson GMP Ltd. that it doesn't already own in an all-stock deal.

BEIJING — Factories that make the world’s smartphones, toys and other goods are struggling to reopen after a virus outbreak idled China’s economy.

WASHINGTON — U.S. sales of new homes jumped 7.9% in January to the fastest pace in more than 12 years, a positive sign for economic growth.

LONDON — Global shares fell sharply once again Wednesday as fears over the speed of the new coronavirus around the world accentuated.

BEIJING — A court in eastern China has sentenced a Swedish seller of books that took a skeptical look at the ruling Communist Party to 10 years in prison for “illegally providing intelligence overseas," in a further sign of Beijing’s hard line toward

TORONTO — The Ontario Labour Relations Board has ruled that Foodora couriers are dependent contractors of the food-delivery company, clearing a hurdle towards potential unionization and setting a major precedent for other workers in the gig economy.

GATINEAU, Que. — An advocate for low income consumers told a CRTC hearing Tuesday that Canada's telecom companies are using "magic math" that exaggerates how much their mobile data prices have dropped in recent years.