National Business

TORONTO — Merck Mercuriadis is holding a Canadian treasure in his hands. Deep into a conversation about the future of the music industry, the head of the Hipgnosis Songs Fund steps away from his webcam to pull a vinyl record from his shelf.

TORONTO — Manulife Financial Corp. says its fourth-quarter profits rose 45 per cent from a year ago, as gains from interest rates and bond sales offset lower volumes of new business during the COVID-19 pandemic last year.

TORONTO — Sun Life Financial Inc. beat expectations as it reported that fourth-quarter profits grew 3.5 per cent to $744 million, up from $719 million in the same quarter a year earlier.

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (18,457.78, up 49.16 points.) The Supreme Cannabis Co. Inc. (TSX:FIRE). Health care. Up seven cents, or 16.

FREDERICTON — The premier of New Brunswick says more than $200 million in new, private investment projects are an indicator of growth in the province over the past year despite the COVID-19 pandemic.

TORONTO — Canada's main stock index continued its record-setting run for an eighth day on a rising energy sector and cannabis stocks reportedly surging from interest by retail investors. The S&P/TSX composite index closed up 49.

Low-cost carrier Flair Airlines says it is expanding service to eight cities in Canada, bringing its number of domestic destinations to 18 by the summer.

TORONTO — Public health restrictions loosened in three Ontario regions with low rates of COVID-19 on Wednesday, with local officials warning that visitors from other areas weren't welcome at reopened businesses.

WASHINGTON — Federal Reserve Chair Jerome Powell on Wednesday underscored the Fed's commitment to reducing unemployment to multi-decade lows, where it stood before the pandemic, while signalling little concern about the risk of potentially high infla

CALGARY — Estimated costs for a proposed Alberta natural gas liquids pipeline put on hold last year amid the COVID-19 pandemic and commodity price uncertainty have jumped by $300 million to $1.6 billion, Keyera Corp. reported Wednesday.