National Business

TORONTO — Executives at Martinrea International Inc. told analysts that they were optimistic on the company’s prospects for electric vehicles, even as a shortage of microchips has become a burden on the auto industry.

WHITEHORSE — Yukon's government says it's planning record capital spending in the 2021-22 fiscal year as it forecasts strong economic growth. In its budget tabled Thursday, the territorial government says it plans to spend $434.

VICTORIA — The B.C. government has eased the eligibility requirements and extended the deadline for small and medium-sized businesses applying for funds under its $345-million pandemic recovery grant program.

CALGARY — Parkland Corp. is reporting lower fourth-quarter earnings and revenue as effects of the COVID-19 pandemic lockdowns continue to erode fuel sales.

TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (18,125.72, down 194.95 points.) Bombardier Inc. (TSX:BBD.B). Industrials. Up five cents, or 8.33 per cent, to 65 cents on 20.

TORONTO — North American stock markets dropped Thursday despite efforts by the chairman of the Federal Reserve to reassure investors that interest rates aren't about to increase. The S&P/TSX composite index closed down 194.95 points at 18,125.

HALIFAX — An Atlantic Canadian undergarment company that quickly retooled its factory last spring to make personal protective equipment is laying off 150 workers after failing to win a new federal contract. Stanfield's Ltd.

CALGARY — The move by U.S. President Joe Biden to cancel the Keystone XL pipeline in January continues to plague Canadian oil companies, with Canadian Natural Resources Ltd.

MONTREAL — While the business jet market will take "several years" to return to pre-pandemic levels, Bombardier Inc. plans to capitalize on growth of after-sales service to achieve its goal of US$7.5 billion in sales in 2025.

GATINEAU, Que. — The CRTC says that consumers with smartphone-financing plans of three years or longer will be protected by a policy that caps cancellation fees.