National Business

NEW YORK (AP) — Magnate Rupert Murdoch's surprise announcement Thursday that he's stepping down as leader of his two companies leaves his son Lachlan firmly in line of succession at Fox and the rest of the media empire.

The Alberta government has released a report that it commissioned on the financial implications of the province leaving the Canada Pension Plan. Here's a look at some of the key findings and assumptions of the report.

EDMONTON — Alberta’s premier fired the starter’s pistol Thursday for a provincewide consultation on whether to quit the Canada Pension Plan while releasing a report that estimates the province deserves more than half CPP's assets.

CALGARY — Coastal GasLink has been fined $340,000 by the B.C. Environmental Assessment Office for issues related to erosion and sediment control. Coastal GasLink, which is owned by Calgary-based TC Energy Corp.

TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (19,791.62, down 423.07 points): TC Energy Corp. (TSX:TRP). Energy/ Down $1.38, or 2.75 per cent, to $48.75 on 17.7 million shares.

TORONTO — Losses in base metal and technology stocks helped lead a broad-based decline Thursday as Canada's main stock index fell more than two per cent. U.S. stock markets also tumbled the day after the U.S. Federal Reserve's latest rate decision.

CALGARY — The group behind a proposed carbon capture and storage (CCS) network for Alberta's oilsands is watching the Trans Mountain pipeline expansion's latest regulatory hurdles with dismay.

OTTAWA — The federal government is moving forward with its promise to remove GST charges off new rental developments and to strengthen the country's competition law.

NEW YORK (AP) — Wall Street slumped as stocks fell worldwide on expectations for U.S. interest rates to stay high well into next year. The S&P 500 lost 1.6% Thursday, its worst drop since March.

CHARLESTON, S.C. (AP) — Convicted murderer Alex Murdaugh did something Thursday he hasn’t done in the two years since his life of privilege and power started to unravel — plead guilty to a crime.