National Business

FAIRLESS HILLS, Pa. — Surging sales of cancer medicines and reduced spending across the board helped Merck overcome a big hit from the coronavirus pandemic and pushed second quarter profits up by 12%.

MONTREAL — SNC-Lavalin Group Inc. is restructuring its money-losing resources business with a plan to sell off or shut down the non-profitable parts and fold the remnants into its engineering services division.

MONTREAL — Quebec's pension fund manager, the Caisse de depot, has hired Canada's United Nations ambassador as a senior executive.

TORONTO — Fairfax Financial Holdings Ltd. says its net income attributable to shareholders decreased 12 per cent in its latest quarter as COVID-19 losses in the first six months of the year approached US$400 million.

TORONTO — Centerra Gold Inc. is boosting its quarterly dividend by 25 per cent after reporting that earnings soared in its latest quarter on a 21-per-cent boost in revenues.

Telus Corp.'s net income fell 39 per cent in its latest quarter to $315 million despite an uptick in revenues, as operating expenses at its wired services increased from the same time last year.

WASHINGTON — American consumers increased their spending in June by a solid 5.6%, helping regain some of record plunge that occurred after the coronavirus struck hard in March and paralyzed the economy.

MONTREAL — Reitmans Canada Ltd. says its future remains uncertain as the insolvent women's apparel retailer negotiates for interim financing. The Montreal-based company had $206.6 million in liabilities and $42.

MONTREAL — DavidsTea Inc. says its net loss soared in its fiscal first quarter, a day after the insolvent beverage company announced it will shrink its retail network to 18 stores in Canada. The Montreal-based company says it lost $45.

WASHINGTON — Wages and benefits for U.S. workers rose at the slowest pace in three years in the April-June quarter, a sign that businesses are holding back on pay as well as cutting jobs in the coronavirus recession. Pay and benefits increased 0.