National Business

TORONTO — Investor optimism fuelled a four-day run to start the month that culminated Thursday in Canada's main stock index setting a record high. The S&P/TSX composite index closed up 126.06 points to 18,041.

The global consulting firm McKinsey & Company agreed to pay nearly $600 million for its role in advising businesses on how to sell more prescription opioid painkillers amid a nationwide overdose crisis.

Canada Goose Holdings Inc. beat expectations in its biggest quarter of the year, returning the luxury parka maker to growth for the first time since the onset of the pandemic.

MONTREAL — Saputo Inc. reported an uptick in its third-quarter profit on Thursday as strong retail sales at grocery stores outweighed weak demand from restaurants, cafeterias and other foodservice costumers.

Longtime Merck executive Ken Frazier, whose leadership helped bring the drugmaker one of the most lucrative medicines in history and who is one of the few remaining Black CEOs of a major corporation, is retiring.

CALGARY — The CEO of Suncor Energy Inc. says it will not increase capital spending this year despite higher oil prices, instead vowing to spend any increases in free cash flow on debt repayment and share buybacks.

MONTREAL — Shares in Resolute Forest Products Inc. fell on Thursday after it reported a net loss of US$52 million in the fourth quarter compared with a loss of US$71 million in the same period a year earlier.

MONTREAL — Air Canada will pause all operations of its Rouge aircraft indefinitely and lay off 80 employees starting Feb. 8, the latest round of cuts at Canada's struggling airlines.

BCE Inc. is launching what executives call the biggest investment program in the company's history as it speeds up plans for its 5G and fibre networks.

Montreal's airport authority estimates that it will have a shortfall of $300 million for 2020, as low travel demand takes a financial toll on airports nationwide.