National Business

WASHINGTON — The Federal Reserve kept its benchmark interest rate at a record low near zero Thursday and signalled its readiness to do more if needed to support an economy under threat from a worsening coronavirus pandemic.

MONTREAL — Saputo Inc.'s net profit slipped 2.

CALGARY — Conditions are right for more merger and acquisition activity in the Canadian oil and gas sector, says the president of Canadian Natural Resources Ltd.

Lightspeed POS Inc. is shelling out US$440 million in cash and shares to acquire a U.S. cloud-based commerce business and bolster its support for small- and medium-sized businesses struggling during the COVID-19 pandemic.

CALGARY — The president of Ensign Energy Services Inc. says activity is beginning to pick up in the North American oil and gas drilling sector after grinding to deep lows earlier this year due to low oil prices.

Canadian Tire Corp. Ltd. reported a ramp up in sales in its third quarter Thursday, when pandemic-inspired cooking, home improvement and staycations drove shoppers to the company's eponymous stores.

TORONTO — Norbord Inc. says it is permanently closing its oriented strandboard mill in the central B.C. community of 100 Mile House after suspending operations there in August 2019.

LONDON — The British government and the Bank of England joined forces Thursday to provide further support to an economy facing a difficult winter following the imposition of new coronavirus lockdown measures.

ESPN announced Thursday it is eliminating about 500 jobs worldwide, including about 300 through layoffs.

TORONTO — BCE Inc.'s third-quarter profit was down 20 per cent compared with a year ago as its revenue also edged lower due to the COVID-19 pandemic's impact on its business and its customers.