National Business

OTTAWA — Statistics Canada reported Friday that the economy lost nearly two million jobs in April and the unemployment rate soared to 13.0 per cent as the full force of the pandemic hit.

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.

TORONTO — Hydro One Ltd. reported a first-quarter profit of $225 million, up from a profit of $171 million a year ago.

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.

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.

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.

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.

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.

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.

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.