National Business

CALGARY — Canadian Natural Resources Ltd. president Tim McKay will retire next year after a five-year leadership stint that coincided with the Calgary-based company surpassing $100 billion in market value.

MONTREAL — Gildan Activewear Inc. says it earned US$127.4 million in the third quarter, down 16.7 per cent from US$153 million a year earlier. The Montreal-based company says net sales rose 2.3 per cent to US$869.

The unprecedented volatility in fertilizer markets that’s contributed to Nutrien Ltd.'s lower earnings so far this year is stabilizing, said chief executive Ken Seitz. "Much of that is behind us," said Seitz in an interview Thursday.

MONTREAL — Cogeco Inc. reported a profit attributable to shareholders of $29.2 million in its fourth quarter, down 19.8 per cent from earnings of $36.4 million during the same period a year ago.

VANCOUVER — The Real Estate Board of Greater Vancouver says the region continues to see an increase in newly listed properties, but sales still lag behind long-term trends. The board says October home sales totalled 1,996, a 3.

TORONTO — DesRosiers Automotive Consultants Inc. says new vehicle sales defied affordability headwinds to rise an estimated 20 per cent in October compared with last year.

CALGARY — TransAlta Corp. has signed a deal to buy Heartland Generation Ltd. and its power generation business in Alberta and B.C. in a deal valued at $658 million, including assumed debt.

MONTREAL — Quebec's public hydroelectric utility says it plans to spend up to $185 billion by 2035 to increase generating capacity and improve the reliability of its network.

MONTREAL — Saputo Inc. says it is closing its facility in Lancaster, Wis., and plans to move production to another location in the state. The Montreal-based company says about 100 employees will be affected by the decision.

While BCE Inc. is “well on track” to meet its fibre internet build targets, the company’s chief executive has warned that the company is prepared to delay progress in 2024 in the face of regulatory uncertainty.