National Business

WASHINGTON (AP) — In a move that environmentalists called a betrayal, the Biden administration has approved construction of a deepwater oil export terminal off the Texas coast that would be the largest of its kind in the United States.

TORONTO — Postmedia Network Canada Corp. reported a net loss of $20.1 million in its latest quarter compared with a loss of $20.8 million a year earlier as its revenue fell 13 per cent.

VANCOUVER — Magna International Inc. has signed a strategic partnership with Sanctuary AI for the development of general purpose AI robots for use in the company's manufacturing operations.

OTTAWA — The parliamentary budget officer says Canada would need to build 1.3 million additional homes by 2030 to eliminate the country's housing gap.

FRANKFURT, Germany (AP) — The European Central Bank signalled Thursday it could cut interest rates at its next meeting in June, a big step as the rich world's central banks, including the U.S.

TORONTO — The drawers were overflowing with skin care products and makeup — three different blushes, many eyeshadows, a dozen different mascaras, foundation and serum samples sitting unused for years.

HANOI, Vietnam (AP) — Real estate tycoon Truong My Lan was sentenced Thursday to death by a court in Ho Chi Minh City in southern Vietnam in the country's largest financial fraud case ever, state media Vietnam Net said.

TORONTO — Movie theatre company Cineplex Inc. says its box office revenue for March was up 46 per cent compared with a year ago, helped by "Dune: Part Two" and "Kung Fu Panda 4." The company says its box office revenue totalled $59.

WASHINGTON (AP) — U.S. producer prices rose rose in March from a year earlier at the fastest pace in nearly a year, but the gain was less than economists expected. And wholesale inflation eased on a month to month basis.

BEIJING (AP) — China on Thursday announced rare sanctions against two U.S.