National Business

TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (19,004.06, down 607.50 points.) Athabasca Oil Corporation (TSX:ATH). Energy. Down seven cents, or 2.3 per cent, to $2.96 on 11.

North American markets faced a harsh reckoning Thursday following the U.S. Federal Reserve's outsize rate hike a day earlier, with Canada's main stock index dropping more than 600 points at closing time.

HALIFAX — A guaranteed basic income in Canada would help alleviate poverty but could also put the fiscal sustainability and labour supply of some provinces at risk, a new study published Thursday says.

SANTA ANA, Calif.

CALGARY — The WestJet Group says it plans to refocus its routes and fleet on Western Canada. The Calgary-based airline says in the wake of a strategic review, it has decided to shift resources to grow its presence in the West.

WASHINGTON (AP) — President Joe Biden told The Associated Press on Thursday that the American people are “really, really down” after a tumultuous two years with the coronavirus pandemic , volatility in the economy and now surging gasoline prices that

VANCOUVER — Telus Corp. has signed a deal to buy LifeWorks Inc. valued at $2.9 billion including debt as it pushes further into employee wellness and healthcare services.

BILLINGS, Mont. (AP) — Montana’s largest city restarted its water plant Thursday after shutting it down amid record flooding that’s caused widespread damage in Yellowstone National Park and surrounding communities.

OTTAWA — Canadian homeowners may be in for a shock when it's time to renew their mortgages, since rising interest rates mean their monthly loan payments will likely climb higher, too.

LONDON (AP) — The Bank of England raised interest rates by a quarter-percentage point Thursday, shrugging off pressure for a bolder move to combat price increases that have pushed inflation to a 40-year high .