National Business

ISLAMABAD — The European Union's aviation safety agency said Tuesday that Pakistan’s national airline will not be allowed to fly into Europe for at least six months after the country’s aviation minister revealed last week that nearly a third of Pakis

LONDON — Budget carrier easyJet may close bases at Stansted, Southend and Newcastle airports in England as it consulted with unions on steps to stay afloat amid the COVID-19 pandemic.

LONDON — Energy producer Royal Dutch Shell warned Tuesday it will slash the value of its assets by $22 billion to account for lower oil and gas prices amid the COVID-19 pandemic.

WASHINGTON — U.S. consumer confidence rose in June, reflecting the partial re-opening of the country but the concern is that rising coronavirus cases in many states could jeopardize future gains.

OTTAWA — Statistics Canada says the economy saw its largest monthly drop on record in April as it came to a near standstill due to the pandemic, but early indications point to a rebound in May as businesses began to reopen.

TORONTO — McDonald's Canada says Jacques Mignault has been appointed as its next president and chief executive, effective Aug. 1. Mignault has been serving as the managing director of McDonald's Switzerland. He succeeds John Betts, who is retiring.

NEW YORK — Kim Kardashian West is selling a stake in her beauty brand for $200 million, in a deal that values the TV reality star's three-year-old business at $1 billion. The buyer is Covergirl owner Coty Inc.

TORONTO — Theatre operator Cineplex Inc. says the COVID-19 pandemic has had a "material negative effect" on its operations and resulted in a $178.4-million loss in the first quarter. The Toronto-based company says in delayed results that it lost $2.

REGINA — Saskatchewan Premier Scott Moe says details are coming soon on when nearly all businesses in the province will be allowed to reopen, signalling an end to the financial support to get them through the COVID-19 pandemic lockdown.

Alimentation Couche-Tard Inc. beat expectations as it capped its fiscal year with profits nearly doubling in the fourth quarter despite a revenue decrease mainly due lower fuel demand because of COVID-19. The Laval, Que.