National Business

BRUSSELS (AP) — Russia's war in Ukraine is expected to wreak havoc with the European Union's economic recovery for the foreseeable future with lower annual growth and record-high inflation, the bloc's economic forecast showed Thursday.

OTTAWA — Bank of Canada governor Tiff Macklem is set to speak at a webinar hosted by the Canadian Federation of Independent Business today.

BEIJING (AP) — Asian stock markets rose Thursday despite a record-setting U.S. inflation report that pointed to more possible interest rate hikes that investors worry will chill economic growth. U.S. futures edged lower while oil prices advanced.

MONTREAL — Cogeco Communications Inc. says its net profit in the third quarter increased five per cent to $100.3 million on a boost in revenues. The Montreal-based company says profit attributable to shareholders was the equivalent of $2.

TOPEKA, Kan. (AP) — Japan’s Panasonic Corp. selected Kansas as the location for a multibillion-dollar mega-factory to produce electric vehicle batteries for Tesla and other carmakers, Gov. Laura Kelly announced Wednesday.

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (18,615.19, down 63.45 points.) Toronto-Dominion Bank (TSX:TD). Financials. Down 99 cents, or 1.2 per cent, to $79.84 on 9.

TORONTO — North American stock markets partially bounced back from disappointing news Wednesday of a supersized interest rate by the Bank of Canada and hotter than expected U.S. inflation numbers.

TORONTO — The Bank of Canada increased its key interest rate by one percentage point Wednesday in the largest hike the country has seen in 24 years.

COLOMBO, Sri Lanka (AP) — Sri Lanka’s president fled the country Wednesday, plunging a nation already reeling from economic chaos into more political turmoil .

Canadian food suppliers are once again issuing notices to grocery retailers informing them of upcoming price hikes.