National Business

OTTAWA — The Bank of Canada slashed its key interest rate target by half a percentage point, dropping it to 1.25 per cent in what economists saw as a rapid response to the growing economic shock from the novel coronavirus outbreak.

Aecon Group Inc. is forecasting another year of income growth on the heels of record annual revenue, as the construction firm continues to shore up its backlog of infrastructure projects.

TORONTO — The chief executive of Scotiabank saw his total compensation for last year fall compared with 2018. In its management proxy circular, the bank says Brian Porter earned $12.6 million in total compensation last year, down from nearly $13.

KASTANIES, Greece — Greek authorities fired tear gas and stun grenades to drive away a crowd of people attempting to cross the border from Turkey, as pressure from illegal immigration built after Turkey declared its previously guarded gateways to Eur

WASHINGTON — Services companies grew at a faster pace in February than the previous month, an indication that the economy was still expanding immediately after the first cases of the coronavirus were reported in the U.S.

WASHINGTON — U.S. businesses added 183,000 jobs last month, a solid gain that shows the economy was largely healthy when the coronavirus outbreak spread further around the globe.

CALGARY — TransAlta Corp. reported a fourth-quarter profit of $66 million compared with a loss of $122 million in the fourth quarter of 2018. The power producer says the profit amounted to 24 cents per diluted share for the three months ended Dec.

TORONTO — The Toronto Regional Real Estate Board says home sales in February were up 45.6 per cent compared with the same month last year when they hit a 10-year low.

BEIJING — Global stock markets were mixed Wednesday after Wall Street sank despite an emergency U.S. interest cut aimed at defusing fears the virus outbreak might stunt global economic activity. London opened lower while Germany advanced.

TORONTO — Some Canadians planning overseas trips are being told by their employers to self-quarantine for weeks upon return in an effort to minimize the spread of a novel form of coronavirus. Manulife Financial Corp.