National Business

TORONTO — Subsidizing hydro rates for industrial and large commercial businesses will cost Ontario taxpayers an estimated $15.2 billion by 2040, the province's fiscal watchdog said Thursday.

TORONTO — A malicious prosecution lawsuit against securities regulators can go ahead, Ontario's top court ruled on Thursday in remitting the case for a hearing on its merits.

WASHINGTON — The Senate on Thursday confirmed California Attorney General Xavier Becerra as President Joe Biden's health secretary, filling a key position in the administration's coronavirus response and its ambitious push to lower drug costs, expand

CALGARY — Topaz Energy Corp. is raising its 2021 guidance to recognize recent acquisitions and signalling its intent to continue to be a buyer following its $250-million initial public offering in October.

Restaurant operators are calling the threat of a third wave of COVID-19 a "do-or-die moment" for the food service industry as it faces another potential round of restrictions.

TORONTO — Centerra Gold Inc. says it believes tax claims by the Kyrgyz Republic State Tax Service are exaggerated or without merit. The gold miner says its Kyrgyz Republic subsidiary, Kumtor Gold Co.

LONDON — The Bank of England voiced cautious optimism Thursday about the U.K.'s economic outlook in the wake of a sharp fall in coronavirus infections and the rapid rollout of the nation's COVID-19 vaccination program.

WASHINGTON — The number of Americans seeking unemployment benefits rose last week to 770,000, a sign that layoffs remain high even as much of the U.S. economy is steadily recovering from the coronavirus recession.

CALGARY — The Alberta Securities Commission has ordered permanent market access bans against Cem (Jim) Can, Charles Michael Miller and Bluforest Inc. after finding they acted fraudulently in a pump-and-dump stock market manipulation scheme.

TORONTO — David Lobo has been named interim president and chief executive of Ontario's cannabis distributor. Lobo has been with the Ontario Cannabis Store since its inception and most recently served as its chief merchandising officer.