National Business

Facebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in a letter to employees Wednesday.

Elon Musk sought to reassure big companies that advertise on Twitter on Wednesday that his chaotic takeover of the social media platform won’t harm their brands, acknowledging that some “dumb things” might happen on his way to creating what he says w

NEW YORK (AP) — Cryptocurrency prices plunged for a second-straight day after crypto exchange Binance said it was pulling out of a deal to purchase failing rival FTX Trading.

TORONTO — Manulife Financial Corp. says its earnings slipped in the third quarter as market losses and hurricane costs weighed. The insurance company says it had a net income of $1.35 billion for the quarter ending Sept. 30, down from $1.

MONTREAL — WSP Global Inc. reported revenues of $2.9 billion in the third quarter ended Oct. 1, up 9.3 per cent from last year. The Montreal-based engineering firm says net earnings attributable to shareholders were $127.5 million, or $1.

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (19,344.25, down 316.06 points): Enbridge Inc. (TSX:ENB). Energy. Down 76 cents, or 1.41 per cent, to $53.15 on 18 million shares.

TORONTO — Canada's main stock index was down more than 300 points Wednesday with losses of more than four per cent in energy while U.S. markets also fell substantially.

TORONTO — An earnings boost from wider margins helped push up shares of EQ Bank owner Equitable Group Inc. by more than 12 per cent Wednesday. The jump came as the bank reported record third quarter earnings of $77.6 million, up from $72.

The head of Canopy Growth Corp. has high hopes for the U.S. Senate and potential cannabis legislation after Tuesday's midterm elections.

NEW YORK (AP) — Wall Street closed sharply lower, giving back a big chunk of the gains built in a three-day rally running up to Election Day. The S&P 500 lost 2.1% Wednesday. Several sources of disappointment were behind the drop.