National Business

TORONTO — Rogers Communications Inc. reported a fourth-quarter profit of $405 million, down from $449 million in the same quarter last year, while revenue rose.

BEIJING (AP) — Global stock markets and Wall Street futures sank Thursday after the Federal Reserve indicated it will raise interest rates soon to cool inflation. London and Frankfurt opened lower.

BEIJING (AP) — Asian stock markets tumbled by unusually wide margins Thursday after the Federal Reserve indicated it plans to start raising interest rates soon to cool inflation. Market benchmarks in Tokyo and Hong Kong fell by more than 2%.

WASHINGTON (AP) — The Federal Reserve signaled Wednesday that it will begin a series of interest-rate hikes in March, reversing pandemic-era policies that have fueled hiring and growth — and stock market gains — but also stubbornly high inflation.

CAMBRIDGE, Mass. — Moderna has begun testing an omicron-specific COVID-19 booster in healthy adults. The company announced Wednesday that the first participant had received a dose.

NEW YORK (AP) — Michael Avenatti jumped at the chance to represent porn star Stormy Daniels in 2018, saying he’d do it for a dollar, another California attorney testified Wednesday at Avenatti's criminal trial.

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (20,595.89, up 4.91 points.) Suncor Energy Inc. (TSX:SU). Energy. Up 50 cents, or 1.4 per cent, to $35.36 on 11.9 million shares.

TORONTO — Canada's main stock index gave up early gains but still posted a small increase as crude oil prices hit a more than seven-year high and the central bank kept its key interest rate in check.

GENEVA (AP) — Pablo, meet Crypto.

The Los Angeles City Council on Wednesday approved a measure to ban new oil and gas wells and phase out existing ones.