National Business

MONTREAL — Air Canada hiked its earnings outlook Thursday, saying it expects earnings to rise due to an improvement in traffic as well as stronger-than-anticipated demand and lower-than-expected fuel prices.

WATERLOO — Open Text Corp. says its net income was US$57.6 million in the third quarter, down 22.9 per cent from US$74.7 million a year earlier. The Waterloo-based company, which reports in U.S. dollars, says revenues were US$1.24 billion, up 41.

WASHINGTON — International Trade Minister Mary Ng exchanged words with the U.S. envoy to Ottawa on Thursday after he accused Canada of having a "hissy fit" over President Joe Biden's original plan to encourage the sale of electric vehicles.

TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (20,238.19, down 116.49): Enbridge Inc. (TSX:ENB). Energy. Up 23 cents, or 0.43 per cent, to $53.18 on 10.8 million shares. Shopify Inc.

Following Rogers Communications Inc.'s successful closing of the largest telecommunications deal in Canadian history last month, the company's two main rivals say they are well positioned to compete in the altered industry landscape.

TORONTO — Canada's main stock index was down more than 100 points Thursday amid broad-based losses, while U.S. markets were also down as uncertainty continued to grip the regional banking sector south of the border. Turmoil in the U.S.

TORONTO — Shopify Inc. says it will reduce its head count by about 20 per cent and sell its logistics business as it aims to reduce distracting "side quests" in the latest big change by the Canadian tech company.

TORONTO — Loblaw Companies Ltd. says it has reached a deal with TC Energy that will see the grocer's operations in Alberta powered entirely by wind, sun and water.

CALGARY — Canadian Natural Resources Ltd. saw its profits in the first quarter decline 41 per cent year-over-year as oil prices weakened.

NEW YORK (AP) — Stocks closed lower as Wall Street’s worries about the U.S. banking system cranked even higher. The S&P 500 lost 0.7% Thursday. The Dow Jones Industrial Average fell 286 points and is now down for the year.