National Business

TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (20,172.34, up 150.96 points.) Barrick Gold Corp. (TSX:ABX). Materials. Down four cents, or 0.19 per cent, to $21.15 on 17.

Canada's main stock index gained more than 150 points Thursday and U.S. markets also edged higher in advance of a highly anticipated meeting of the U.S. Federal Reserve in Jackson Hole, Wyo. The S&P/TSX composite index closed up 150.

TORONTO — TD Bank Group followed several of its peers in reporting a profit drop for the third quarter as banks set aside funds for a potential recession ahead, even as loans continued to grow and consumer savings rates remained elevated.

OTTAWA — The Bank of Canada has started its search for its next deputy governor, which it says will now be a part-time, non-executive role. The fourth deputy governor of the central bank will replace Timothy Lane, who is set to retire on Sept. 16.

NEW YORK (AP) — Stocks are closing higher on Wall Street, clawing back more of their recent losses, as the countdown clicks closer to zero for a highly anticipated speech about interest rates. The S&P 500 rose 1.4% Thursday.

TORONTO — CIBC reported a drop in earnings Thursday from a year ago as it set aside more money for potentially bad loans amid rising interest rates. The bank reported a net income of $1.67 billion in its third quarter, down from $1.

TORONTO — When Alexander Nachaj needed to wire the down payment on a house, he didn't worry much about it — he just headed down to his local bank branch to send it along to the notary.

OTTAWA — Parkland Corp. and Federated Co-operatives Ltd. have signed agreements with the Competition Bureau, which had raised concerns about their acquisition of 337 Husky retail gas stations.

Rogers Communications Inc. will now spend $261 million to physically split its wireless and wireline networks following the July 8 outage and says it is not in a position to quantify the direct economic losses caused by the disruption.

NEW YORK (AP) — Anticipation for one of the fall’s likeliest bestsellers has been growing all year.