National Business

TORONTO — Postmedia is moving a dozen of its Alberta community newspapers to digital-only formats, eyeing more outsourcing deals for printing, laying off workers and selling the home of the Calgary Herald.

TORONTO — TD Bank Group says its head of Canadian business banking Paul Douglas is stepping back from daily operations into the newly created position of chair of the division.

Microsoft is cutting 10,000 workers, almost 5% of its workforce, joining other tech companies that have scaled back their pandemic-era expansions.

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (20,376.23, down 81.23): Enbridge Inc. (TSX:ENB). Energy. Down 21 cents, or 0.38 per cent, to $55.62 on 10.3 million shares.

TORONTO — Canada's main stock index edged downward Wednesday as the price of oil receded off a strong morning, while U.S. markets slid by a wider margin. The S&P/TSX composite index was down 81.23 points at 20,376.23.

VANCOUVER — Social media technology company Hootsuite Inc. is laying off seven per cent of its staff in its third job cut in the last year and replacing its chief executive.

NEW YORK — Wall Street had its biggest pullback of the year as a January market rally sputtered. Technology stocks led the way lower, including a 1.9% drop in Microsoft after the tech titan joined others in its industry in announcing layoffs.

The Insurance Bureau of Canada says severe weather caused $3.1 billion in insured damage in Canada in 2022, from flooding to storms to Hurricane Fiona. That makes 2022 the third worst year for insured losses in Canadian history.

NEW YORK (AP) — Americans cut back on spending in December, the second consecutive month they've done so, underscoring how inflation and the rising cost of using credit cards slowed consumer activity over the crucial holiday shopping season.

ST. JOHN'S, N.L. — Irving Oil says it has teamed up with a renewable energy producer to supply its Saint John, N.B., refinery with carbon-negative renewable natural gas. The New Brunswick company says Anaergia Inc.