National Business

CALGARY — A new report predicts Canadian oilsands production will have its biggest annual decline on record this year, dropping by an average of nearly 175,000 barrels per day due to issues associated with the COVID-19 pandemic.

CALGARY — The Canada Energy Regulator is fining Trans-Northern Pipelines $40,000 for an incident near a commuter train line in Greater Toronto that resulted in damage to a pipeline transporting gasoline.

KUALA LUMPUR, Malaysia — A Malaysian court sentenced former Prime Minister Najib Razak to serve 12 years in prison on Tuesday after finding him guilty in the first of several corruption trials linked to the multibillion-dollar looting of the 1MDB sta

NEW YORK — CES, one of the world’s biggest technology conferences, will be a virtual event in January due to the coronavirus pandemic, a reversal from May when organizers said it would go on as a smaller gathering in Las Vegas.

TORONTO — George Weston Ltd. recorded a $255-million loss in its latest quarter despite boost in revenue as the ongoing COVID-19 pandemic significantly impacted its three operating arms.

CALGARY — The Royal Bank of Canada says it is the first Canadian bank to sign a long-term renewable energy power purchase agreement, a deal which will support development of a 39-megawatt, $70-million solar project in southern Alberta.

TORONTO — Mario Ruiz started collecting vintage clothing and hard-to-find shoes in Grade 7 before hawking his wares from his high school locker at a profit.

WASHINGTON — U.S. home prices grew more slowly in May, but continued to show resilience in the face of the coronavirus outbreak. The S&P CoreLogic Case-Shiller 20-city home price index rose 3.7% in from a year earlier. That's a drop from the 3.

VANCOUVER — West Fraser Timber Co. Ltd. beat expectations as it earned $48 million in its latest quarter despite lower revenues.

The biggest test yet of an experimental COVID-19 vaccine got underway Monday with the first of some 30,000 Americans rolling up their sleeves to receive shots created by the U.S. government as part of the all-out global race to stop the pandemic.