National Business

MONTREAL — Laurentian Bank of Canada raised its quarterly dividend as it reported a second-quarter profit of $49.3 million, down from $59.5 million a year ago.

TORONTO — BMO Financial Group closed its acquisition of the Air Miles loyalty rewards program in Canada on Thursday, saying it plans to expand the program with new ways to earn and redeem points.

FRANKFURT, Germany (AP) — Europe's inflation took a positive turn with a significant drop to 6.1%, but prices are still posing a pinch to shoppers who are yet to see real relief in what they pay for food and other necessities.

WASHINGTON (AP) — Veering away from a default crisis, the House approved a debt ceiling and budget cuts package late Wednesday, as President Joe Biden and Speaker Kevin McCarthy assembled a bipartisan coalition of centrist Democrats and Republicans a

Quebec's government has officially tapped Michael Sabia as the next head of Hydro-Quebec. In a tweet, Premier François Legault announced Sabia would serve as president and CEO of the Crown corporation, succeeding Sophie Brochu.

OTTAWA — Former Quebec finance minister Carlos Leitão has been appointed to the Bank of Canada's board of directors. Leitão was Quebec's finance minister between 2014 and 2018.

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (19,572.24, down 167.46): Suncor Energy Inc. (TSX:SU). Energy. Down 77 cents, or 1.99 per cent, to $38.03 on 23.2 million shares.

TORONTO — Canada's main stock index was down almost 170 points Wednesdayin a broad-based decline led by losses in energy and base metals, while U.S. markets also moved lower. The S&P/TSX composite index was down 167.46 points at 19,572.24.

TORONTO — Meta Platforms Inc. has begun allowing "up-and-coming creators" in Canada to pay to be verified on Facebook and Instagram. The social media company says in a release that the pay-for-verification program is called Meta Verified.

NEW YORK (AP) — Wall Street closed lower as worries rise about the strength of the global economy and inflation. The S&P 500 fell 0.6% Wednesday. The Nasdaq composite fell a similar amount, and the Dow Jones Industrial Average fell 0.4%.