National Business

BANGKOK (AP) — Shares advanced Friday in Asia, tracking a rally on Wall Street after a group of big banks offered a lifeline to First Republic Bank, the lender investors had focused on in their latest hunt for troubles in the banking industry.

NEW YORK (AP) — Eleven of the biggest U.S. banks Thursday announced a $30 billion rescue package for First Republic Bank in an effort to prevent it from becoming the third to fail in less than a week and head off a broader banking crisis.

NASHVILLE, Tenn.

GATINEAU, Que. — Hexo Corp. reported a net loss of $11.1 million in its latest quarter, up from a year earlier, when it reported a loss of $690.3 million, which included $616 million in one-time impairment charges. The Gatineau, Que.

MONTREAL — A new private equity firm based in Ottawa says it has acquired the company behind one of the world's largest pornography sites, Pornhub.

TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (19,539.01, up 160.17): Suncor Energy Inc. (TSX:SU). Energy. Down 22 cents, or 0.55 per cent, to $40.05 on 23.2 million shares.

TORONTO — Markets in Canada and the U.S. climbed steadily Thursday in yet another reversal during a volatile week, with tech helping drive strength as well as some signs of recovery in embattled financial stocks.

WASHINGTON (AP) — The warning signs were all there. Silicon Valley Bank was expanding at a breakneck pace and pursuing wildly risky investments in the bond market.

OTTAWA — Businesses expect subdued sales in the short term as they face continued cost and labour pressures, despite slowing inflation, according to a survey by the Canadian Chamber of Commerce.

Grocery giant Empire Company Ltd.