National Business

NEW YORK — The nation’s largest mall owner is backing out of a $3.6 billion deal to buy a major rival as the coronavirus pandemic shakes the retail industry.

WASHINGTON — Confronted with an economy gripped by recession and high unemployment, the Federal Reserve signalled Wednesday that it expects to keep its key short-term interest rate near zero through 2022.

Transcontinental Inc. says a gradual recovery in printing volumes has allowed it to recall more than one third of the employees laid off because of the impact of COVID-19.

TORONTO — COVID-19 cases among agri-food workers in Windsor-Essex have spiked this week, the Ontario region's top doctor said Wednesday, as a provincial effort to test all migrant workers for the virus ramped up.

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (15,701.33, down 132.41 points.) Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Down $1.29, or 4.54 per cent, to $27.15 on 36.

TORONTO — Canada's main stock index lost some ground midweek on weakness by the key energy and financials sectors. The S&P/TSX composite index closed down 132.41 points at 15,701.33. Activity was mixed in the United States.

Each day, SoHo hotel general manager David Kelley hears the sound of his footsteps echoing off the marble floors and panelled walls as he walks across the lobby, a space as empty as the 89 rooms above him. "It is very quiet.

TORONTO — Starbucks is planning to close up to 200 coffee shops across Canada as it responds to changes in consumer habits during the COVID-19 pandemic.

Former Bank of Canada governor Mark Carney is releasing a new book laying out his vision for a more equitable post-pandemic economy.

Dollarama Inc. experienced a drop in profit during its most recent quarter, but still topped the expectations of analysts who believed the pandemic would weigh more on the company's bottom line.