National Business

TORONTO — Fairfax Financial Holdings Ltd. says it lost nearly US$1.3 billion in the first quarter because of the COVID-19 pandemic, about US$100 million less than it forecast about two weeks ago. The Toronto-based holding company, which reports in U.

BERKELEY, Calif. — Apple's profit dipped slightly while revenues rose in the January-March quarter, reflecting early fallout from a coronavirus pandemic that shut down its factories and then forced hundreds of Apple retail stores to close.

REGINA — Saskatchewan Premier Scott Moe is telling residents in the northern part of the province to stay put as the region deals with an outbreak of COVID-19.

WASHINGTON — President Donald Trump said Thursday that he believes the U.S. can never declare “total victory” over the coronavirus because too many people have died.

WATERLOO, Ont. — Open Text Corp. is temporarily reducing the salaries of its executives, senior leadership and other employees, and cutting its overall workforce by up to five per cent, the multinational software company announced Thursday.

DALLAS — American Airlines and United Airlines lost a combined $4 billion in the first quarter as the coronavirus pandemic triggered a sharp drop in air travel, and the airlines are busy borrowing enough money to survive until passengers return in la

MONTREAL — Resolute Forest Products Inc. is temporarily laying off more than 1,000 workers mainly in Quebec because of the COVID-19 pandemic.

HAMILTON — Stelco Holdings Inc. says it has entered into a long-term agreement with United States Steel Corp. to purchase iron ore pellets from the largest iron ore mine in the U.S.

OTTAWA — Canada's top central banker says monetary stimulus on the scale that the country is seeing now must ultimately reach the average Canadian to help an economic recovery from the COVID-19 crisis.

TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (14,780.74, down 447.37 points.) Bombardier Inc. (TSX:BBD.B). Industrials. Up one cent, or 2.08 per cent, to 49 cents on 19.