National Business

BEIJING — Profit at state-owned companies that dominate China’s banking, oil and most other industries rose by as much as 25% last year as the country recovered from the coronavirus pandemic, the government said Tuesday.

MILAN — European car sales plunged by nearly a quarter last year as the pandemic provoked the worst crisis ever to hit the capital-intensive industry. New car registrations sank by 23.7%, or 3 million vehicles, to 9.

ANKARA, Turkey — Turkey on Tuesday slapped advertising bans on Twitter, Periscope and Pinterest over their non-compliance with a controversial new law that requires social media platforms to appoint legal representatives in the country.

Sustainable investing experts say TC Energy Corp.'s plan to decarbonize the Keystone XL pipeline is unlikely to save its fortunes, as a growing movement to divest from fossil fuels gains political clout. U.S.

WASHINGTON — Treasury Secretary nominee Janet Yellen is calling on Congress to do more to fight a deep pandemic-induced recession, saying the threats of a longer and even worse downturn are too great to cut back on support now.

SAN SALVADOR, El Salvador — The money sent home to El Salvador by migrants plunged 40% at the start of the coronavirus pandemic, but then recovered to end 2020 at a record high of $5.92 billion, authorities said Monday.

TOKYO — Japan's foreign minister accused South Korea on Monday of worsening already strained ties by making “illegal” demands for compensation for the sexual abuse of Korean women and use of forced labourers during World War II.

CALGARY — AltaLink wants to refund an additional $350 million to Alberta's electricity customers over the next three years because of low energy prices.

CALGARY — A British Columbia company that feeds food waste to insects to produce pet food has received $6 million from the federal government for a new plant just north of Calgary. Enterra Feed Corp.

PRINCE RUPERT, B.C. — The port in Prince Rupert, B.C., has set another record in defiance of the economic downtown caused by the COVID-19 pandemic.