National Business

NEW YORK (AP) — Nike is cutting 2% of its global workforce, or little over 1,600 jobs, as the athletic wear giant aims to cut costs and reinvest its savings into what it sees as big growth areas like sport, health and wellness.

TORONTO — Fairfax Financial Holdings Ltd. reported a fourth-quarter profit attributable to shareholders of US$1.3 billion, down from US$2.3 billion a year earlier. The company, which keeps its books in U.S. dollars, says the profit amounted to US$52.

CALGARY — TC Energy Corp.

TORONTO — An Ontario court has given Factory Direct permission to liquidate its stores as it begins winding down the business.

WASHINGTON (AP) — Wholesale prices in the United States picked up in January, the latest sign that some inflation pressures in the economy remain elevated.

OTTAWA — Statistics Canada says wholesale sales excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain rose 0.3 per cent to $82.9 billion in December.

TORONTO — Mithaq Capital SPC says it's dropping its hostile takeover offer for Aimia Inc. after not enough shares were tendered before the bid expired on Thursday.

TORONTO — On a cool-but-sunny February day in Toronto’s west end, a temperature-controlled truck pulls up at the rear of a Metro grocery store, where pallets of food about to reach their sell-by date sit waiting.

WestJet chief executive Alexis von Hoensbroech apologized for incidents where the airline failed to accommodate people living with disabilities, saying he hopes to improve travel accessibility.

Rogers Communications Inc. says the telecom regulator should phase out its current approach to wholesale network access, which requires smaller internet companies to pay a set rate to larger ones to use their networks and then sell to Canadians.