National Business

TORONTO — As a growing number of tech companies carry out successive rounds of layoffs, Shopify Inc.'s president says there are no more cuts in the works for the Ottawa-based e-commerce company.

Several employees at a Tesla factory in New York have been fired a day after launching union organizing efforts, according to Tesla Workers United, but the company says they're not related.

EDMONTON — Bank of Canada deputy governor Paul Beaudry says returning inflation to the central bank's two per cent target is critical because high and volatile inflation makes the economy inefficient and businesses less competitive.

MONTREAL — A prominent businessman and lawyer who believes the Montreal Gazette needs local ownership has offered to take a stake in the newspaper, but he said Thursday he hasn't heard back from its owner.

TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (20,606.42, down 113.97): Manulife Financial Corp. (TSX:MFC). Financials. Up 99 cents, or 3.79 per cent, to $27.12 on 26.

DETROIT (AP) — Tesla is recalling nearly 363,000 vehicles in the U.S.

TORONTO — Canada's main stock index lost just over half a per cent Thursday amid weakness in energy and technology, while U.S. markets fell further. The S&P/TSX composite index was down 113.97 points at 20,606.42.

CALGARY — Cenovus Energy Inc. chief executive Alex Pourbaix will step down from his CEO role later this year to devote more time to his evolving role as an outspoken champion of Canada's oilsands industry and its decarbonization ambitions.

NEW YORK (AP) — Stocks fell on Wall Street, posting their biggest drop in four weeks, after another reading on inflation came in hotter than expected. The S&P 500 fell 1.

TORONTO — In a bid to help retailers compete with the illicit pot market, the Ontario Cannabis Store will lower its price margins this fall — but its chief executive warns the move won't solve all the industry's woes.