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Jobless rate spikes to 14.7%, highest since Great Depression

WASHINGTON — The U.S. unemployment rate hit 14.7% in April, the highest rate since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record.
Hydro One reports $225M first-quarter profit, up from $171 million a year ago

Hydro One reports $225M first-quarter profit, up from $171 million a year ago

TORONTO — Hydro One Ltd. reported a first-quarter profit of $225 million, up from a profit of $171 million a year ago.
Brookfield Property Partners swings to loss on property value adjustments

Brookfield Property Partners swings to loss on property value adjustments

TORONTO — Brookfield Property Partners says it swung to a net loss in the first quarter as it adjusted asset values across its portfolio. The company, a subsidiary of Brookfield Asset Management Inc.

Multi-unit housing starts up in some parts of Canada in April despite COVID-19

OTTAWA — Canada Mortgage and Housing Corp. says construction of multi-unit housing projects remained strong in some provinces last month despite the fight against the COVID-19 pandemic. CMHC estimates a 10.

Here's a quick glance at unemployment rates for April, by province

OTTAWA — Canada's national unemployment rate was 13.0 per cent in April. Here are the jobless rates last month by province (numbers from the previous month in brackets): — Newfoundland and Labrador 16.0 per cent (11.7) — Prince Edward Island 10.8 (8.

Here's a quick glance at unemployment rates for April, by Canadian city

OTTAWA — The national unemployment rate was 13.0 per cent in April. Statistics Canada also released seasonally adjusted, three-month moving average unemployment rates for major cities.

National employment numbers for April from Statistics Canada, at a glance

OTTAWA — A quick look at April employment (numbers from the previous month in brackets): Unemployment rate: 13.0 per cent (7.8) Employment rate: 52.1 per cent (58.5) Participation rate: 59.8 per cent (63.
TD expects U.S. retail banking business to take $1.1B charge for bad loans

TD expects U.S. retail banking business to take $1.1B charge for bad loans

Toronto-Dominion Bank says it expects to take a provision for credit losses related to its U.S. retail banking business of roughly $1.1 billion (US$800 million) in its second quarter due to the pandemic.
SNC free to exit Montreal in 2024 after shareholders vote down proposal

SNC free to exit Montreal in 2024 after shareholders vote down proposal

MONTREAL — SNC-Lavalin Group Inc. will be free to pull up stakes from Montreal — the seat of its operations for more than a century — come 2024, along the lines of a "Plan B" it submitted to federal prosecutors in 2018.
Uber loses $2.9 billion, offloads bike and scooter business

Uber loses $2.9 billion, offloads bike and scooter business

NEW YORK — Uber lost $2.9 billion in the first quarter as its overseas investments were hammered by the coronavirus pandemic, but the company is looking to its growing food delivery business and aggressive cost-cutting to ease the pain.