National Business

EDMONTON — Premier Jason Kenney says a global oil glut means Alberta's main industry will be dealing with low prices for a year or longer after the COVID-19 crisis abates.

MONTREAL — Aimia Inc. has replaced its CEO and shaken up its board in a sweeping move to reinvent itself as a holding company that will see it shed its rewards programs and the bulk of its staff.

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (15,228.11, up 429.82 points.) Bombardier Inc. (TSX:BBD.B). Industrials. Up five cents, or 11.63 per cent, to 48 cents on 24.

TORONTO — Canada's main stock index soared to a near eight-week high Wednesday as the energy sector surged despite producers posting big losses as they cut oil production amid low crude prices. The S&P/TSX composite index closed up 429.

VANCOUVER — A&W restaurant sales have fallen sharply since the COVID-19 pandemic started to grow in Canada in mid-March, according to the A&W Revenue Royalties Income Fund.

WASHINGTON — Devastated by the coronavirus, the U.S. economy is sinking. And the plunge is accelerating.

Boeing outlined plans Wednesday to cut 10% of its workforce, slow production of new planes and raise more cash to survive a downturn in business that started with the grounding of its bestselling jet and has accelerated with a deep slump in air trave

TORONTO — The association representing Ontario's energy producers and distributors says the province should stop subsidizing the price of hydro and instead offer targeted help to customers who need it most.

SMITHS FALLS, Ont. — Canopy Growth Corp. says it will be cutting 200 workers in its third round of cuts in the last two months. The Smiths Falls, Ont.

FREDERICTON — Farm groups in New Brunswick say a new restriction on temporary foreign workers couldn't have come at a worse time and will have a major impact on food production in the province.