National Business

WASHINGTON — Gripped by the accelerating viral outbreak, the U.S. economy is under pressure from persistent layoffs, diminished income and nervous consumers, whose spending is needed to drive a recovery from the pandemic.

NEW YORK — “No New ‘Movies’ Till Influenza Ends” blared a New York Times headline on Oct. 10, 1918, while the deadly second wave of the Spanish Flu was unfolding.

NEW YORK — When Jenna Powell gets in front of a camera, she can sell $10,000 worth of sparkly dresses and tie-dye hoodies in 40 minutes.

CALGARY — A Canadian company developing new control products to improve efficiency and performance in electric motors and powertrains is aiming to raise between $30 million and $36.5 million through a public offering of its shares.

WASHINGTON — The second of three estimates on U.S. growth for the July-September quarter was unchanged at a record pace of 33.1%.

WASHINGTON — U.S. consumers increased their spending by a sluggish 0.

WASHINGTON — Orders to U.S. factories for big-ticket manufactured goods showed a modest gain in October but much of the strength came from a big jump in orders for military equipment.

KINGSEY FALLS, Que. — Cascades Inc. says it will close its napkin plant in Laval, Que., at the end of June next year. The plant currently employs 54 workers.

TORONTO — Toymaker Spin Master Corp. has announced a deal to develop toys and games based on the Harry Potter and Fantastic Beasts movies. The company says it has signed a global licensing agreement with Warner Bros.

MONTREAL — CAE Inc. has signed a deal with Textron to buy TRU Simulation + Training Canada Inc. for US$40 million. The company says the acquisition of expands its installed base of commercial flight simulators and customers.