National Business

CALGARY — MEG Energy Corp. reported a profit of $26 million in its latest quarter compared with a loss of $199 million in the same quarter a year earlier. The company says the profit amounted to nine cents per diluted share for the quarter ended Dec.

TOKYO — Asian shares rose Thursday, taking their cue from a surge on Wall Street as governments and central banks took more aggressive measures to fight the virus outbreak and its economic impact. Japan's benchmark Nikkei 225 rose 0.8% to 21,262.49.

TORONTO — Several Canadian banks and financial institutions have dropped their prime lending rate by 50 basis points to 3.45 per cent, effective March 5.

Bombardier Inc. says it is concerned about a new report that links it and other companies to the alleged forced labour of Muslim minorities in China.

TORONTO — Spin Master Corp. says it swung to a loss in the fourth quarter in part because of supply chain issues at its U.S. distribution centre, and it expects further supply impacts this year because of the novel coronavirus.

CALGARY — A delayed inspection and a failure to predict how fast cracks could develop from corrosion are cited in a report describing the cause of an explosion and fire in an Enbridge Inc. natural gas pipeline northeast of Prince George, B.C.

TORONTO — North American stock markets enjoyed a relief rally in the aftermath of interest rate cuts on both sides of the border and a strong primary night for former U.S. vice president Joe Biden.

Canopy Growth Corp. is orchestrating a massive overhaul involving a layoff of 500 workers, a multimillion-dollar writedown, the closure of two greenhouses and the cancellation of plans to operate a third. The Smiths Falls, Ont.

HALIFAX — Atlantic Canadian fisheries entrepreneurs like Danny Dumaresque have to be nimble in their marketing efforts as the impact of the novel coronavirus hits their Asian customer base and delays key industry events.

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,779.53, up 355.91 points.) Manulife Financial Corp. (TSX:MFC). Financials. Up 33 cents, or 1.48 per cent, to $22.64 on 13.