National Business

TORONTO — COVID-19 weighed down Bank of Nova Scotia's second quarter, causing its profit to plunge and the company to increase its reserves to cover bad loans. The Toronto-based bank reported Tuesday a profit of $1.

LONDON — Dominic Cummings helped Boris Johnson win power by pitting the people against the elite. Johnson’s Conservative administration has branded itself “the People’s Government.

BANGKOK — Latam Airlines, South America’s biggest carrier, sought U.S. bankruptcy protection Tuesday as it grapples with a sharp downturn in air travel sparked by the coronavirus pandemic.

TORONTO — A survey of Canadian manufacturers shows a widespread drop in output as demand falls during the COVID-19 pandemic with no quick rebound in sight.

BALTIMORE — U.S. new home sales ticked up 0.6% in April, a surprising gain amid the coronavirus outbreak that hints at the relative health of potential buyers.

WASHINGTON — U.S. consumer confidence inched up this month, showing signs of stabilizing, but remained near a six-year low in the face of the widespread business shutdowns that have sent the economy into recession.

TORONTO — Porter Airlines is extending the suspension of all of its flights by another month until July 29.

WASHINGTON — U.S. home prices accelerated in March even though sales plummeted, as those Americans still house shopping were forced to bid for a sharply diminished supply of homes. The S&P CoreLogic Case-Shiller 20-city home price index rose 3.

SANTA FE, N.M. — George R.R. Martin, the famed author of the “Game of Thrones” fantasy series, has joined a group to buy the historic Santa Fe Southern Railroad.

TORONTO — Clothing retailer Roots Corp. has named Meghan Roach as its new chief executive. Roach, who has been interim chief executive since January, replaces Jim Gabel, who left the company after the board expressed a need for "renewed leadership.