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National Business

Correction: Virus Outbreak-Business Travel story

Correction: Virus Outbreak-Business Travel story

In a Nov. 11, 2020, story about the future of business travel, The Associated Press erroneously reported the name of one of the subjects of the story. His name is Brandon Contreras, not Brian Contreras.
Power Corp. third-quarter profits attributable to shareholders surge to $505 million

Power Corp. third-quarter profits attributable to shareholders surge to $505 million

MONTREAL — Power Corp. says its net profit attributable to shareholders surged more than 40 per cent in the third quarter to $505 million from $359 million a year earlier.
Landlord's attempt to evict HBC blocked for now, but retailer ordered to pay rent

Landlord's attempt to evict HBC blocked for now, but retailer ordered to pay rent

TORONTO — An Ontario judge has ordered Hudson's Bay Co. to pay half the rent owing at one of its department stores, while blocking a landlord's attempt to evict the iconic retailer.
US consumer prices unchanged in October, lowest in 5 months

US consumer prices unchanged in October, lowest in 5 months

WASHINGTON — U.S. consumer prices were unchanged in October, the lowest reading in five months, suggesting that a price spike over the summer is beginning to fade as coronavirus cases spread. The flat reading for last month followed a gain of 0.
709,000 seek US jobless aid as pandemic escalates

709,000 seek US jobless aid as pandemic escalates

WASHINGTON — The number of people seeking U.S. unemployment benefits fell last week to 709,000, a still-high level but the lowest figure since March and a further sign that the job market might be slowly healing.

Champion Iron approves $512.6-million expansion of Bloom Lake mine in Quebec

MONTREAL — Champion Iron Ltd. says it will move ahead with an expansion of its Bloom Lake open pit mining complex in northeastern Quebec that is expected to double capacity and create 375 new permanent jobs.
Castlepoint Numa sells stake in Pinewood Toronto Studios to Bell Media

Castlepoint Numa sells stake in Pinewood Toronto Studios to Bell Media

TORONTO — Castlepoint Numa Inc. says it has sold its minority interest in Pinewood Toronto Studios to majority shareholder Bell Media. Financial terms of the sale were not disclosed.
New Yorker fires writer Jeffrey Toobin after Zoom incident

New Yorker fires writer Jeffrey Toobin after Zoom incident

NEW YORK — The New Yorker has fired longtime staff writer Jeffrey Toobin after he reportedly exposed himself during a Zoom conference last month. He had already been on suspension and is also on leave from CNN, where he is chief legal analyst.
Brookfield Asset Management looks to grow reinsurance business with new entity

Brookfield Asset Management looks to grow reinsurance business with new entity

TORONTO — Brookfield Asset Management says it is creating BAM Reinsurance as a new publicly traded business similar to Brookfield Renewable and Brookfield Infrastructure.
Manulife touts digital insurance offerings as net income soars in Q3

Manulife touts digital insurance offerings as net income soars in Q3

TORONTO — Manulife Financial Corp. says more than $600 million in digital investments over the last two years are paying off as the company grappled with the COVID-19 pandemic.