National Business

BANGKOK (AP) — Asian shares were mostly higher Friday after a historic plunge in the stock price of Facebook’s parent company helped yank other tech stocks lower on Wall Street. Hong Kong jumped 2.6% after reopening from Lunar New Year holidays.

BURNABY, B.C. — Interfor Corp. is reporting a near tripling in profits last year despite a weaker fourth quarter in which net earnings were cut by more than half. The Burnaby, B.C., lumber producer says it earned $819 million or $12.

NEW YORK — Amazon's profits in the fourth quarter nearly doubled, beating analysts' expectations, even as the online behemoth continues to contend with surging costs tied to a snarled supply chain and labour shortages.

Lightspeed Commerce Inc.'s new chief executive is insisting the company is on track to meet its growth and profitability targets after just one day in the top job.

WATERLOO, ONT. — OpenText Corp. is raising its fiscal 2022 guidance after swinging to a US$88.3 million profit attributable to shareholders in its latest quarter on a 2.5 per cent increase in revenues. The Waterloo, Ont.

TORONTO — A big earnings miss from Facebook's parent company rippled across the technology sector as Canadian and U.S. stock markets fell for the first time in five days even as crude oil surpassed US$90 a barrel for the first time since 2014.

TORONTO — Greater Toronto Area home sales tumbled as fewer properties were listed and market conditions tightened last month, weighing on the regional real estate board’s sales forecasts for the year, but not dampening its price predictions.

BCE Inc. is raising its quarterly dividend 5.1 per cent as it reported financial results that show it has almost fully recovered from the impacts of the COVID-19 pandemic.

CALGARY — Suncor Energy Inc. will adopt mining safety technology for the first time in the oilsands after a recent fatality that marked the company's fourth workplace death since late 2020.

FRANKFURT, Germany (AP) — The head of the European Central Bank said record inflation could linger for “longer than expected” and appeared to open the door at least a crack for an interest rate increase this year.