National Business

Uncertainty looms across the country as the economic fallout from the COVID-19 pandemic pushes the economy toward a recession that some expect to be worse than the 2008 financial crisis.

TORONTO — Canada's housing market could see a significant pullback this year because of the COVID-19 pandemic, but could rebound next year, a report by RBC says.

TORONTO — The Ontario Teachers' Pension Plan Board says it earned a net return of 10.4 per cent last year with net assets reaching $207.4 billion. The pension fund manager says its investment income reached a record $20.2 billion as of Dec. 31.

BOSTON — A California woman was sentenced Tuesday to seven months in prison for paying bribes to rig her two daughters' college admissions exams and get one of them into Georgetown University as a fake tennis recruit.

VAUGHAN, Ont. — CannTrust Holdings Inc. says it has obtained protection from creditors under the Companies' Creditors Arrangement Act as it works resolve issues related the suspension of its licenses to produce and sell cannabis.

CALGARY — Imperial Oil Ltd. is reducing its spending for this year by $1 billion, including a $500-million cut to its capital spending plan as it deals with the COVID-19 pandemic and crash in oil prices.

OTTAWA — The federal government is waiving the monthly rent paid by airport authorities to Ottawa for the rest of the year as revenues plummet amid the COVID-19 pandemic.

OTTAWA — Economic growth slowed in January in a snapshot of the economy before the COVID-19 outbreak hit home. Statistics Canada said Tuesday real gross domestic product grew 0.1 per cent in the first month of 2020 compared with an advance of 0.

BALTIMORE — U.S. home price growth was showing signs of acceleration in January, a sign of the solid demand that existed before the coronavirus outbreak caused millions of job losses and tossed the U.S. economy into a likely recession.

Restaurant costs for 2020 will be much lower than initially forecast as consumers spend more of their dining-out budgets at grocery stores instead, according to an updated food price report that predicts annual restaurant sales will be slashed in hal