National Business

GENEVA (AP) — Fears about the world banking system spread to Europe on Wednesday as shares in the globally connected Swiss bank Credit Suisse plunged and dragged down other major European lenders in the wake of bank failures in the United States .

CALGARY — Crude oil prices plunged below US$70 and Canadian energy stocks took a beating Wednesday as market chaos continued amid concerns about a spreading bank crisis.

LAVAL, Que. — Alimentation Couche-Tard Inc. says it earned US$737.4 million in its third quarter ended Jan. 29, down 1.2 per cent from a year earlier. The Laval, Que.

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (19,378.84, down 315.32): Suncor Energy Inc. (TSX:SU). Energy. Down $2.80, or 6.50 per cent, to $40.27 on 15.4 million shares.

TORONTO — Canada's main stock index sank Wednesday, pulled down by the energy and financial sectors as mounting apprehensions over the global banking sector spread, while U.S. markets were mixed as the tech sector held its own.

MONTREAL — Flair Airlines has filed a $50-million lawsuit against several plane-leasing companies over the "unlawful" seizure of four of its aircraft last weekend, the latest update to the ongoing drama in Canadian aviation after the budget carrier f

NEW YORK (AP) — Stocks fell amid fresh worries about the banking sector, although Wall Street more than halved its losses by the closing bell. The S&P 500 closed with a decline of 0.7%.

February's home sales plummeted 40 per cent from a year ago to levels not seen since before the pandemic as new listings and prices also dropped in what one economist called "hints of a bottoming process.

OTTAWA — Canada's competition regulator is urging Ottawa to enact safeguards with respect to large-scale mergers by shifting the burden to the merging companies to prove why their deals are unlikely to substantially reduce market competition.

Investors are getting conflicting advice from independent proxy advisors on whether the takeover price for cybersecurity firm Magnet Forensics Inc. is fair. Glass Lewis & Co.