National Business

NEW YORK — Stocks rallied on Wall Street after the head of the Federal Reserve said the central bank could soon ease up on its aggressive pace of interest rate hikes aimed at taming inflation.

TORONTO — Lower income in financial markets helped lead to an overall drop in income for National Bank of Canada in the fourth quarter, even as other segments gained.

OTTAWA — Canada's competition watchdog is warning that the tax revenue implications of Rogers Communications Inc.'s $26-billion proposed takeover of Shaw Communications Inc.

TORONTO — Royal Bank of Canada is taking measures to boost its capital on hand after announcing a $13.5 billion deal on Tuesday to buy HSBC Bank Canada amid heightened market uncertainty.

CALGARY — Alberta's proposed sovereignty act threatens to scare off investors and talent and derail the province's plans for economic growth, a prominent business group warned Wednesday.

WASHINGTON (AP) — The U.S.

VALCOURT, Que. — BRP Inc. reported its third-quarter profit and revenue rose compared with a year ago and raised guidance for its full year.

SMITHS FALLS, Ont. — Canopy Growth Corp. says it will be breaking out its Canadian cannabis operations into a stand-alone business unit and laying off 55 staff. Brenna Eller, the Smiths Falls, Ont.

VANCOUVER — Western Forest Products Inc. says it will temporarily reduce its lumber production levels for the rest of the year. The Vancouver-based forest products company says the reduction will amount to about 200 million fewer board feet.

BERLIN (AP) — German energy company Uniper said Wednesday it's suing Gazprom for damages over natural gas that hasn't been delivered since June, when the Russian supplier started reducing amounts to Germany.