National Business

AMSTERDAM (AP) — The European Medicines Agency has recommended that Pfizer's coronavirus antiviral drug be authorized for use in the 27-nation European Union, the first time the agency has recommended a pill for treating COVID-19.

CALGARY — Eryn and Chris Lucas didn't set out to have a small wedding. The Toronto couple had been planning and budgeting for the wedding of their dreams, with 120 invited guests, when the COVID-19 pandemic derailed their plans.

WASHINGTON (AP) — The U.S. economy grew last year at the fastest pace since Ronald Reagan's presidency, bouncing back with resilience from 2020's brief but devastating coronavirus recession.

WASHINGTON (AP) — Fewer Americans applied for unemployment benefits last week following three straight increases amid a surge in cases of the omicron variant of COVID-19.

TORONTO — Rogers Communications Inc. reported a fourth-quarter profit of $405 million, down from $449 million in the same quarter last year, while revenue rose.

BEIJING (AP) — Global stock markets and Wall Street futures sank Thursday after the Federal Reserve indicated it will raise interest rates soon to cool inflation. London and Frankfurt opened lower.

BEIJING (AP) — Asian stock markets tumbled by unusually wide margins Thursday after the Federal Reserve indicated it plans to start raising interest rates soon to cool inflation. Market benchmarks in Tokyo and Hong Kong fell by more than 2%.

WASHINGTON (AP) — The Federal Reserve signaled Wednesday that it will begin a series of interest-rate hikes in March, reversing pandemic-era policies that have fueled hiring and growth — and stock market gains — but also stubbornly high inflation.

CAMBRIDGE, Mass. — Moderna has begun testing an omicron-specific COVID-19 booster in healthy adults. The company announced Wednesday that the first participant had received a dose.

NEW YORK (AP) — Michael Avenatti jumped at the chance to represent porn star Stormy Daniels in 2018, saying he’d do it for a dollar, another California attorney testified Wednesday at Avenatti's criminal trial.