National Business

WASHINGTON (AP) — Wholesale prices in the United States rose modestly last month, the latest sign that inflationary pressures may be easing more than a year after the Federal Reserve unleashed an aggressive campaign of steadily higher interest rates.

TORONTO — Shares in CI Financial Corp. soared after it announced a deal to sell a 20 per cent stake in its U.S. wealth management business to a group of institutional investors for about $1.34 billion. Shares in the company were up $5.

TORONTO — Brookfield Corp. reported first-quarter net income of US$424 million, down from US$2.96 billion in the same quarter last year. The company, which keeps its books in U.S.

OAKVILLE, Ont. — Algonquin Power and Utilities Corp. says it has launched a strategic review of its renewable energy group. The company, which terminated its deal to buy Kentucky Power Company and AEP Kentucky Transmission Co. Inc.

MONTREAL — Quebecor Inc. reported its first-quarter profit attributable to shareholders fell to $120.9 million compared with $121.4 million in the same quarter a year ago.

LONDON (AP) — The U.K. is sending Ukraine long-range cruise missiles to help push back Russian forces, British Defense Secretary Ben Wallace said Thursday. It's the first known shipment of the weaponry that Kyiv has long sought from its allies.

LONDON (AP) — The Bank of England raised interest rates to their highest level since late 2008 as it continues to combat stubbornly high inflation in the U.K.

BERLIN (AP) — A man opened fire at a Mercedes-Benz factory in southwestern Germany on Thursday, leaving two people dead, authorities the company said. The shooting occurred in Sindelfingen, a city near Stuttgart.

DUBAI, United Arab Emirates (AP) — Long-haul carrier Emirates saw its most-profit year ever in 2022, earning $2.9 billion after bouncing back from the coronavirus pandemic shutting down global aviation, the airline announced Thursday.

TORONTO — RioCan Real Estate Investment Trust says net income for the first quarter was $118 million, down from $160 million a year earlier. The Toronto-based company says same property net operating income grew by 3.