National Business

TORONTO — Scotiabank's head of Canadian banking is leaving after a 25-year career at the financial institution. The bank says Dan Rees is leaving to pursue other opportunities.

OpenText Corp. says it earned US$80.9 million in the first quarter of its financil year, up from a loss of US$116.9 million a year earlier. Revenues for the Waterloo, Ont.-based company were US$1.

TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (19,626.34, up 547.34 points): Enbridge Inc. (TSX:ENB). Energy. Up $1.14, or 2.5 per cent, to $46.06 on 8.2 million shares.

MONTREAL — A Quebec research institute says some of Canada's biggest companies have transferred billions of dollars in profits to Luxembourg to avoid paying domestic taxes.

MONTREAL — The TVA Group says it is laying off 547 employees — nearly a third of its workforce — amid restructuring as the company contends with declining audiences and ad revenues.

CALGARY — Pembina Pipeline Corp. says it earned $346 million in the third quarter of 2023, down from $1.8 billion in the same three-month period of 2022.

NEW YORK (AP) — Wall Street roared higher, adding to its rally from the day before on hopes the Federal Reserve may finally be done with its market-rattling hikes to interest rates. The S&P 500 jumped 1.9% Thursday.

TORONTO — Canada's main stock index leapt close to three per cent Thursday and U.S. markets also rose as investors shifted bets from long-term bonds towards equities on an improved outlook for interest rates.

LAS VEGAS (AP) — Tens of thousands of Las Vegas hotel workers fighting for new union contracts set a strike deadline Thursday, threatening major disruptions at more than a dozen resorts that could coincide with the Strip's inaugural Formula 1 races l

OTTAWA — Immigration Minister Marc Miller says he plans to recalibrate the number of people who come to Canada temporarily to make sure the program is sustainable, but details about what measures the government is considering remain unclear.