National Business

TORONTO — Canada's main stock index lost nearly 250 points Thursday, led by weakness in energy and base metals, while U.S. markets also fell. The S&P/TSX composite index closed down 246.99 points at 25,410.71.

Empire’s chief executive believes the grocery retailer has a leg up on the competition as consumer sentiment improves amid lower inflation and interest rates, and the gap between its discount and full-service stores shrinks.

MONTREAL — Quebec’s largest hotel will close over the holidays due to an ongoing labour dispute. The Fairmont Queen Elizabeth Hotel says it will close its doors temporarily, starting Dec.

NEW YORK (AP) — U.S. stock indexes drifted lower following some potentially discouraging data on the economy. The S&P 500 fell 0.5% Thursday, its third loss in the last four days. The Dow Jones Industrial Average fell 0.

Canadian telecommunications companies are calling for stiffer penalties targeting copper wire theft and new rules that would limit the vandals' ability to resell the material. Executives from Bell Canada and Telus Corp.

TORONTO — The head of the Body Shop Canada says more stores are due to close as the chain prepares to take on new ownership.

VICTORIA — A new program is offering up to $25,000 to help clinics attract more veterinarians to the rural British Columbia. Businesses can apply for a portion of the $1.

MONTREAL — Transat A.T. Inc. reported a big boost in profits in its latest quarter, driven by millions of dollars in compensation from an engine maker as well as more passengers.

CALGARY — Suncor Energy Inc. is aiming to increase its oil output next year by up to five per cent, as it continues to work to improve its performance and lower costs from its oilsands assets.

FRANKFURT, Germany (AP) — The European Central Bank has cut rates by a quarter percentage point amid signs of weakening growth and concern about the impact of political chaos in France and the possibility of new U.S.