National Business

MONTREAL — Air Canada's chief financial officer echoed on Tuesday his boss's recent call to ease travel restrictions as the airline continues to bleed cash, despite concerns over a second wave of the COVID-19 pandemic.

WASHINGTON — Federal Reserve Chairman Jerome Powell warned Tuesday that the U.S. economy faces a deep downturn with “significant uncertainty” about the timing and strength of a recovery.

TORONTO — Credit rating agency Equifax Canada says consumer average non-mortgage debt dropped for the first time in more than a decade in the first quarter as a result of the COVID-19 pandemic. This debt decreased nearly 0.

LONDON — European Union regulators opened two investigations on Tuesday into Apple's mobile app store and payment platform over concerns its practices distort competition, opening a new front in the EU's battle against the dominance of big tech compa

TORONTO — Facebook has struck an agreement with The Canadian Press that will create eight new reporting jobs.

BALTIMORE — American shoppers ramped up their spending on store purchases by a record 17.

Toronto-based Barrick Gold Corp. says it has cashed in most of its shares in Hong Kong-listed Shandong Gold Mining, taking advantage of an increase in price as world gold prices strengthen.

Some of the most active companies traded Friday on the Toronto Stock Exchange: Toronto Stock Exchange (15,256.57, up 205.65 points) Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up nine cents, or 0.37 per cent, to $24.34 on 15.99 million shares.

EDMONTON — Aurora Cannabis Inc. says co-founder Steve Dobler will retire as president and as a director of the company at the end of the month. Dobler has held the roles at the cannabis company since December 2014.

CHICAGO — Fitch Ratings has downgraded Air Canada because of an expected slower recovery in demand from the COVID-19 pandemic, especially for international travel.