National Business

CALGARY — Imperial Oil Ltd. is cutting one billion barrels from its inventory of oilsands bitumen following a year marked by low oil prices and budget cutting amid the COVID-19 pandemic and a global price war between major oil producers.

VANCOUVER — Healthy growth is forecast for British Columbia through 2023 by Central 1, the financial services partner for 250 credit unions across Canada. The Vancouver-based firm predicts growth of 4.2 per cent this year, 4.

Buyers are spending more money on home purchases in several major Canadian cities, even as the COVID-19 pandemic causes layoffs and income reductions across the country. The Canada Mortgage and Housing Corp.

TORONTO — OMERS says its portfolio lost 2.7 per cent, net of expenses, last year as the COVID-19 pandemic hammered its investments.

TORONTO — CIBC chief executive Victor Dodig credited the fast-paced mortgage market and new cash-back reward credit cards as factors behind the bank's better-than-expected first-quarter profit growth, as the bank also slashed its provisions for credi

Coinbase has filed papers with U.S. regulators to become a publicly traded company as digital currencies continue to march toward mainstream acceptance.

MONTREAL — Quebecor Inc. raised its dividend as it reported its fourth-quarter profit rose compared with a year ago. The company said Thursday it will now pay a quarterly dividend of 27.5 cents per share, up from 20 cents.

SILVER SPRING, Md. — The number of Americans who signed contracts to buy homes declined again with the number of properties for sale not matching the surging demand in the U.S. The National Association of Realtors’ index of pending home sales fell 2.

WASHINGTON — The number of Americans seeking unemployment benefits fell sharply last week in a sign that layoffs may have eased, though applications for aid remain at a historically high level.

MONTREAL — With spring just around the corner, people will soon be able to return to outdoor workouts, and with government restrictions beginning to lift in some provinces, they might even be able to go back to their usual gym routines.