National Business

MONTREAL — Shares in Boralex Inc. rose more than six per cent Monday after the renewable power producer reported its second-quarter profit rose compared with a year ago.

Cargojet Inc.'s chief executive said Monday the air cargo company is cutting back on the "overspending" it incurred to meet a demand influx during the COVID-19 pandemic as it reported a decline in profit in its latest quarter.

TORONTO — Canada's main stock index closed down more than 100 points Monday on broad-based weakness, while U.S. stock markets rose after a day of mixed trading. The S&P/TSX composite index closed down 117.03 points at 20,290.54.

The new data from recruiting company Robert Half found that hybrid working arrangements were favoured by 54 per cent of hiring managers, compared with 49 per cent of professionals surveyed.

OTTAWA — Prime Minister Justin Trudeau says a three-day federal cabinet retreat that is set to take place in Prince Edward Island next week will focus on the economy and affordability issues.

ST. JOHN'S, N.L. — Norwegian energy giant Equinor has hired a drilling rig to look for more oil off the coast of Newfoundland.

MONTREAL — Rogers Sugar Inc. has announced plans to spend $200 million to grow its production capacity at its plant in Montreal to help meet increased demand in Eastern Canada.

TORONTO — Oxford Properties Group says it will spend $28 million to redevelop Yorkdale mall's main corridor and food court.

TORONTO — Coinbase is rolling out Interac e-transfer integration as part of its Canadian offerings as it says it's encouraged by the regulatory approach in the country.

"If it's a drought year, dryland produces next to nothing, whereas the irrigated areas are still producing excellent crops," says Richard Phillips, general manager of the Bow River Irrigation District. "It's great drought insurance, if you want to think of it that way."