National Business

OTTAWA — Canadian manufacturers of masks and other equipment for protecting against COVID-19 are seeking more than $5 billion in damages from the federal government, saying Ottawa misled them about buying and helping sell their products.

MONTREAL — Fixed-price defence contracts dragged down earnings at CAE Inc. as the flight simulator maker saw quarterly profits fall nearly 30 per cent year-over-year even while revenues rose.

TORONTO — Canada's main stock index gained more than 300 points or almost 1.5 per cent Wednesday on broad-based strength, while U.S. markets also rose to take back some of their losses from the previous day.

BCE Inc. is urging the CRTC to implement conditions such as caps on eligible speeds and initial access restrictions if the regulator allows smaller internet providers to use rivals' fibre networks to offer their services to customers.

OTTAWA — RBC says a recently announced cap on new study permits won't lead to an outright decrease in demand for rental housing from international students this year.

MONTREAL — The United Nations’ top tech official fears that corporate interests may undermine the push to rein in artificial intelligence, exacerbating social divisions and encroaching on human rights.

TORONTO — Home sales rose in an unseasonably warm January to mark a second month of rising activity and softening prices, the Canadian Real Estate Association said Wednesday. January sales were up 3.

TORONTO — Barrick Gold Corp. reported that gold production for 2023 fell short of its guidance as it set out lower expected production for the year ahead. The gold miner said Wednesday that production for the year totalled 4.

ANKARA, Turkey (AP) — Authorities on Wednesday detained four people in connection with a massive landslide that engulfed a gold mine in eastern Turkey, leaving at least nine workers missing, Turkish state media reported.

TORONTO — Spin Master Corp. says revenue during its latest quarter, which covered the key holiday season, was up 7.9 per cent from a year earlier, but the company's revenue for its fiscal 2023 overall were down 5.