National Business

CALGARY — Oil producer Whitecap Resources Inc. says it is planning for "involuntary shut-ins" of production as North American crude storage levels threaten to exceed capacity and commodity prices remain at low levels.

WASHINGTON — The Federal Reserve announced Thursday that it was expanding a major lending program to provide support for businesses struggling to cope with the economic disruptions caused by the coronavirus pandemic.

WASHINGTON — Long-term mortgage rates tumbled to all-time lows this week as the economy and housing market continued to reel from the business and social shutdown spurred by the coronavirus pandemic.

TORONTO — Clobbered by anti-pandemic measures that have stifled travel and grounded much of the world's commercial aviation, Canada's airports are predicting around $2 billion in lost revenues this year.

McDonald's says it has likely reached the trough of global restaurant closures due to COVID-19, with 25% still shuttered. But business has been slow to return as lockdown orders continue to disrupt consumers' routines.

TORONTO — Motorists are advised to fasten their seatbelts for a very different spring car-buying season. In addition to complicating the shopping experience, the COVID-19 pandemic could have an impact on selection, price and financing, say experts.

OTTAWA — Economic growth in Canada stalled in February ahead of the collapse in March due to the COVID-19 pandemic, Statistics Canada said Thursday.

FRANKFURT — The European Central Bank is stepping up its efforts to cushion the economy against a record downturn that the bank's president, Christine Lagarde, said was “of a magnitude and speed that are unprecedented in peacetime.

The English Premier League has to decide whether to approve Saudi Arabia's takeover of Newcastle while concerned that piracy of its broadcasts from the kingdom poses a “significant risk” to the competition's revenue.

TORONTO — Raymond James Ltd. has acquired Oak Trust Co., a privately held trust company based in London, Ont. Financial terms of the deal by the Canadian arm of investment dealer Raymond James Financial Inc. were not disclosed.