National Business

MONTREAL — Air Canada will lay off more than half of its 38,000 employees next month as it grapples with the fallout from the COVID-19 pandemic.

NEW YORK — The coronavirus pandemic has pushed the storied but troubled department store chain J.C. Penney into Chapter 11 bankruptcy. It is the fourth major retailer to meet that fate.

WASHINGTON — As businesses reopened Friday in more of the U.S.

WASHINGTON — The Federal Reserve said Friday that Wall Street remains vulnerable to another shock if the global pandemic takes an “unexpected course” putting renewed strains on the economy and the country's financial system.

TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange: Toronto Stock Exchange (14,638.90 , up 129.24 points.) Aurora Cannabis Inc. (TSX:ACB). Health care. Up $6.15, or 66.85 per cent, to $15.35 on 18 million shares.

TORONTO — Onex Corp. swung to a more than $1 billion loss in the first quarter as a result of market volatility and economic disruption from the COVID-19 outbreak. The investment management firm, which reports in U.S.

TORONTO — Canada's main stock index climbed higher to end a week constrained by concerns about sabre-rattling from the U.S. against China and more weak economic data. The S&P/TSX composite index closed up 129.24 points at 14,638.

Two energy companies whose deal over aging assets in Alberta failed to win approval from the province's energy regulator over environmental concerns say they will try again.

HALIFAX — Chorus Aviation Inc. saw profits drop by more than 150 per cent year over year last quarter as the COVID-19 outbreak wreaks havoc on the airline industry. The regional aviation company reported a net loss of $17.

TORONTO — The union that represents half of the employees at Vice Canada's office in Toronto says it's disappointed by reports that its U.S. parent plans about 155 layoffs worldwide.