National Business

TORONTO — Gerry Schwartz, founder of Toronto-based private equity firm Onex Corp., will step down from his role as CEO of the company after nearly 40 years. The billionaire, who turns 81 this month, will remain chairman of Onex.

GENEVA (AP) — Top Russian and U.N.

HALIFAX — Emera Inc. is putting capital spending on clean energy projects in Nova Scotia on hold as it works through the consequences of the Nova Scotia government's imposed rate cap on the parent company of Nova Scotia Power.

TORONTO — Thomson Reuters Corporation says it has signed a deal to acquire U.S. company SurePrep, LLC, in a transaction worth US$500 million.

OAKVILLE, Ont. — Algonquin Power & Utilities Corp. reported a $195.2-million loss in its latest quarter and cut its financial guidance for the year. The power utility, which keeps its books in U.S.

TORONTO — Hydro One Ltd. reported a third-quarter profit of $307 million, up from $300 million in the same quarter last year. The power utility says the profit amounted to 51 cents per diluted share for the quarter ended Sept. 30.

BEIJING (AP) — Asian stock markets surged Friday after U.S. inflation eased by more than expected, spurring hopes the Federal Reserve might scale down plans for more interest rate hikes. Hong Kong's market benchmark jumped 5.4%.

NEW YORK (AP) — Some 250 copy editors, marketing assistants and other employees at HarperCollins Publishers went on strike Thursday, with the two sides differing over wages and benefits, diversity policy and union protection.

The Ontario Teachers' Pension Plan says it invested US$95 million into failing cryptocurrency exchange platform FTX Trading.

Aurora Cannabis Inc.'s chief executive insisted his company was on track to meet its profitability target even as it recorded a $51.9 million net loss and saw consumer pot net revenue fall 28 per cent from a year ago.