National Business

ST. JOHN'S, N.L. — Newfoundland and Labrador is offering $175 million to the owners of the dormant Terra Nova offshore oilfield, but only if oil starts pumping again.

SILVER SPRING, Md. — Wells Fargo had its best quarter of 2020 as its profit rose 4% in the fourth quarter of a year defined by the coronavirus outbreak.

BEIJING — President Xi Jinping is asking former CEO Howard Schultz of Starbucks to help repair U.S.-Chinese relations that have plunged to their lowest level in decades amid a tariff war and tension over technology and security.

NEW YORK — Marc Lore, Walmart's e-commerce chief, is leaving the world's largest retailer, nearly five years after he joined to super charge its online business amid stiffer competition from online leader Amazon.

CHARLOTTE, N.C. — Banking conglomerate Citigroup said its fourth quarter profits fell by 7%, but like its competitor JPMorgan Chase, the bank saw improvement from the darkest days of the pandemic shutdowns.

MONTREAL — Quebec's workplace safety board has issued fines to nine Dollarama locations in the province for failing to respect sanitary guidelines.

Home sales in December hit an all-time record for the month to end what was also a record year, the Canadian Real Estate Association said Friday. December sales were up 47.

COPENHAGEN — U.S. pharmaceutical company Pfizer confirmed Friday it will temporarily reduce deliveries to Europe of its COVID-19 vaccine while it upgrades production capacity to 2 billion doses per year.

SILVER SPRING, Md. — U.S. industrial production rose 1.6% in December, a third straight monthly gain, but remains below its pre-pandemic level. The December gain in industrial output followed a 0.

MILAN — Italy’s fashion chamber is opening on Friday the first Milan Fashion Week that won't have VIPS populating runway front rows, as the reality of Italy's persistent resurgence of the coronavirus has forced an all-virtual format for presenting me