National Business

Sea-Doo maker BRP Inc. says production shutdowns depleted its inventory and dragged down revenues in its second quarter, but rising demand buoyed profits as fun-seekers turned to power sports for pandemic recreation.

MONTREAL — Canadian National Railway Co. has awarded a contract for 1,150 grain cars to National Steel Car Ltd. in Hamilton.

TORONTO — Canada's economy is starting to rebound from the worst of the COVID-19 pandemic slowdown, but TD Bank Group's chief executive is warning that trouble may still lie ahead.

TORONTO — When Canadians are handed payment terminals when dining out or grabbing takeout, there's usually a moment of discomfort as they quietly calculate how much to tip while restaurant staff hover nearby.

SILVER SPRING, Md. — More Americans signed contracts to buy homes in July, suggesting the current hot housing market could continue in the fall. The National Association of Realtors said Thursday that its index of pending sales rose 5.9%, to 122.

BALTIMORE — The U.S. economy shrank at an alarming annual rate of 31.7% during the April-June quarter as it struggled under the weight of the viral pandemic, the government estimated Thursday. It was the sharpest quarterly drop on record.

WASHINGTON — Just over 1 million Americans applied for unemployment benefits last week, a sign that the coronavirus outbreak continues to threaten jobs even as the housing market, auto sales and other segments of the economy rebound from a springtime

TORONTO — Canadian Imperial Bank of Commerce's earnings took a tumble as it allocated an increasing amount of money towards bad loans triggered by the COVID-19 pandemic. The Toronto-based bank said Thursday that it earned $1.17 billion or $2.

NEW YORK — The energy industry braced Wednesday for catastrophic storm surges and winds as Hurricane Laura cut a dangerous path toward the coastlines of Texas and Louisiana.

TORONTO — A technology-driven rally on markets in the United States spilled across the border to boost the tech sector in Canada and help drive the country's main stock index higher on Wednesday. The S&P/TSX composite index closed up 172.