National Business

WASHINGTON — The U.S. government's deficit in the first three months of the budget year was a record-breaking $572.9 billion, 60.7% higher than the same period a year ago, as spending to deal with the COVID-19 pandemic surged while revenue declined.

MONTREAL — Air Canada is cutting 1,700 jobs and scaling down its operations as the cumulative effects of lockdown restrictions, slumping travel demand and new COVID-19 testing rules take their toll on the airline industry.

FREDERICTON — NB Liquor and Cannabis NB are both reporting third quarter revenue increases. The two Crown corporations released their third quarter figures Wednesday for the period ending Dec. 27, 2020.

NEW YORK — The PGA cancelled its tournament at his golf course. Banks say they won’t lend to him anymore. New York City is ending his contract to operate the Central Park skating rink.

MONTREAL — Canada's new COVID-19 testing requirement for international travellers has caused hundreds of people to miss flights in just the first week of the program's rollout.

CALGARY — The Canadian arm of Norwegian oil giant Equinor ASA says it has closed its downtown Calgary office and is moving staff to St. John's, N.L.

CALGARY — Shaw Communications Inc. says its fiscal year got off to great start despite the ongoing impact from the COVID-19 pandemic.

ANKARA, Turkey — Turkish authorities gave the go-ahead for the emergency use of the COVID-19 vaccine produced by China’s Sinovac Biotech Ltd.

Alimentation Couche-Tard's $25-billion potential play for French-based grocery chain Carrefour SA got a thumbs down from its own investors and skeptical analysts. The Quebec-based company's shares plunged 10.5 per cent, or $4.35 at $36.

WASHINGTON — U.S. consumer prices rose 0.4% in December, led by a sharp rise in gasoline prices. Last month's increase, the largest in four months, followed a 0.