National Business

ST. JOHN'S, N.L. — Newfoundland and Labrador's government is looking for a rapid answer from Ottawa on its request for aid for the offshore oil sector in light of a quickening exodus of exploration rigs from the province.

HONG KONG — Casino tycoon Stanley Ho, whose business empire dominated the Portuguese gambling enclave of Macao for decades, died Tuesday in Hong Kong at age 98.

TOPEKA, Kan.

NEW YORK — Stocks surged on Wall Street to their highest levels since the business shutdowns took hold in the U.S.

MONTREAL — National Bank of Canada's net income plunged 32 per cent in its second quarter as it put aside five times the provisions for credit losses than it did a year ago due to the economic storm triggered by the COVID-19 pandemic.

MONTREAL — Air Canada is hoping to raise more than $1 billion in share and debt offerings to bolster its cash position amid the financial devastation of the COVID-19 pandemic.

KINGSEY FALLS, Que. — Cascades Inc. says it will close its Brown containerboard plant in Burlington, Ont., by the end of July, a decision that will affect the 45 employees. The Kingsey Falls, Que.

TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (15,148.12, up 72.70 points.) HEXO Corp. (TSX:HEXO). Health care. Down 12 cents, or 11 per cent, to 97 cents on 16.8 million shares.

NANAIMO, B.C. — Tilray Inc. says it will close a licensed cannabis greenhouse in Ontario, which will save the company millions of dollars a year. The Nanaimo, B.C.

TORONTO — Canada's main stock index got a lift from the heavyweight financials sector, while U.S. markets surged to their highest levels in more than two months on improving sentiment from economic reopenings.