National Business

Cargojet Inc.'s chief executive said Monday the air cargo company is cutting back on the "overspending" it incurred to meet a demand influx during the COVID-19 pandemic as it reported a decline in profit in its latest quarter.

TORONTO — Canada's main stock index closed down more than 100 points Monday on broad-based weakness, while U.S. stock markets rose after a day of mixed trading. The S&P/TSX composite index closed down 117.03 points at 20,290.54.

TORONTO — Around half of hiring managers and employees believe a combination of remote and in-office work to be the ideal setup, according to a survey which suggests both sides might be aligning on the issue more than three years after the COVID-19 p

ST. JOHN'S, N.L. — Norwegian energy giant Equinor has hired a drilling rig to look for more oil off the coast of Newfoundland.

MONTREAL — Rogers Sugar Inc. has announced plans to spend $200 million to grow its production capacity at its plant in Montreal to help meet increased demand in Eastern Canada.

TORONTO — Oxford Properties Group says it will spend $28 million to redevelop Yorkdale mall's main corridor and food court.

TORONTO — Coinbase is rolling out Interac e-transfer integration as part of its Canadian offerings as it says it's encouraged by the regulatory approach in the country.

CALGARY — Sean Stanford's wheat farm just south of Lethbridge, Alta.

OTTAWA — Forecasters anticipate this week's consumer price index report to show inflation rose last month, signalling a reversal in progress after a year of steady declines in inflation.

TORONTO — Five things to watch for in the Canadian business world in the coming week: Suncor results Energy giant Suncor Energy Inc. is set to release financial results for its second quarter on Monday.