National Business

FRANKFURT — Shares in electric and hydrogen-powered truck startup Nikola plunged on Monday after the company's founder resigned amid allegations of fraud - just two weeks after signing a $2 billion partnership with General Motors.

CALGARY — Obsidian Energy Ltd. is formalizing its hostile takeover bid for rival Bonterra Energy Corp. It says it will offer two Obsidian shares for each Bonterra share until Jan. 4.

FRANKFURT — The head of the European Central Bank says that the economy is rebounding but that the recovery remains uncertain, incomplete and dependent on containing the virus outbreak.

As the pandemic continues to radically alter how Canadians spend their money, experts say a second wave of COVID-19 will likely see consumers plagued by shortages – but this time stemming from “lifestyle changes” rather than panic buying.

MONTREAL — Air Canada had more refund-related complaints to the U.S. Department of Transportation than any other foreign carrier in June, and the second-highest number of any airline for the second-straight month.

CALGARY — The long-standing chief executive of TC Energy Corp.

VICTORIA — The B.C. government says it will launch three cannabis programs over the next two years to help small and Indigenous growers compete with larger rivals.

TORONTO — CI Financial Corp. says it has signed a deal to acquire U.S. investment adviser Bowling Portfolio Management LLC. The firm based in Cincinnati has US$450 million in assets under management.

NEW YORK — A judge has approved a request from a group of U.S. WeChat users to delay looming federal government restrictions that could effectively make the popular app nearly impossible to use.

DUBAI, United Arab Emirates — Film agencies in Israel and the United Arab Emirates announced an agreement Monday to collaborate on television production, the latest development to follow a U.S.