National Business

ATLIN, B.C. — The Canada Infrastructure Bank (CIB) is committing $80 million toward the Atlin Hydroelectricity Expansion, a clean power project it says will benefit residents of the Yukon territory.

MONTREAL — Laurentian Bank of Canada reported a second-quarter profit of $59.5 million, up from $53.1 million a year ago, its most profitable quarter since 2018. The Montreal-based bank says its net income amounted to $1.

BRUSSELS (AP) — The European Union’s executive branch on Wednesday approved Poland’s pandemic recovery fund, paving the way for the release of billions of euros in grants and loans, even as lawmakers expressed deep unease about democratic backsliding

TORONTO — A new study conducted by Chartered Professional Accountants of Canada (CPA Canada) finds that Canadians who don't own homes think home ownership remains far out of reach despite prices cooling slightly across the country.

The Bank of Canada raised its overnight rate by half a percentage point to 1.5 per cent Wednesday and signalled more increases to come, as it aims to curb out-of-control inflation, which is now at its highest level in 30 years.

WASHINGTON (AP) — The white-hot demand for U.S. workers cooled a bit in April, though the number of unfilled jobs remains high and companies are still desperate to hire more people. Employers advertised 11.

OTTAWA — Restaurant and bar sales in this country have surpassed their pre-COVID-19 levels for the first time since the pandemic began, according to Statistics Canada.

CALGARY — Vermilion Energy Inc. says it has completed its acquisition of Leucrotta Exploration Inc. Calgary-based Vermilion said in March that it would acquire the junior energy company in a deal worth $477 million.

MONTREAL — CAE Inc. says its net profit attributable to shareholders soared last quarter as revenues increased even excluding ventilators sold to the Canadian government last year for people suffering from COVID-19.

TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (20,729.34, down 190.06 points.) Arc Resources Ltd. (TSX:ATX). Energy. Down 51 cents, or 2.6 per cent, to $19.05 on 54.7 million shares.