Prep-Business-Report

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(Markets)

Canada's main stock index closed down more than 100 points, weighed down by losses in base metal and energy stocks, while U-S stock markets also moved lower.

The S-&-P/T-S-X composite index closed down 121.40 points at 22,346.76.

In New York, the Dow Jones industrial average was down 201.95 points at 39,671.04.

The S-&-P 500 index was down 14.40 points at 5,307.01, while the Nasdaq composite was down 31.08 points at 16,801.54.

The Canadian dollar traded for 73.13 cents U-S compared with 73.27 cents on Tuesday.

The July crude oil contract was down $1.09 U-S at $77.57 per barrel and the June natural gas contract was up 17 cents U-S at $2.84 per one-thousand cubic feet.

The June gold contract was down $33.00 U-S at $2,392.90 an ounce and the July copper contract was down 26 cents U-S at $4.85 a pound. (The Canadian Press)

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(Workplace-Connections-Study)

A new report from the Conference Board of Canada shows employers are concerned about workplace isolation in the era of remote and hybrid work models.

It identifies busy schedules -- including heavy workloads and excessive meetings -- as the biggest barrier to social connections among employees.

The report says this could lead to increased risks of loneliness, absenteeism and employee turnover.

It suggests collaborations with employees when designing initiatives for social connections and promoting work-life balance can help tackle isolation. (The Canadian Press)

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(OSFI-Risk-Outlook)

Real estate secured lending and mortgages are among the top risks facing Canada's financial system.

In its annual risk outlook, the Office of the Superintendent of Financial Institutions says as homeowners renew their mortgages, they could potentially face a payment shock because of higher interest rates.

The banking regulator says it expects the payment increases to lead to a higher incidence of residential mortgage loans falling into arrears or default. (The Canadian Press)

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(Quebecor-Loblaw)

Quebecor wants Ottawa to stop Loblaw from only offering Rogers and Bell phone products.

In a letter to the federal industry minister, the chief executive of Quebecor alleges that Loblaw terminated a supply contract between the chain's in-store kiosks and the telecom's Freedom Mobile subsidiary.

The executive says the grocer is instead partnering with Glentel -- which is jointly owned by Rogers Communications and Bell Canada, and operates stores such as Wireless Wave and T-booth Wireless.

He calls it an "anticompetitive" deal. (The Canadian Press)

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(WestJet-CEO-Speech)

WestJet is calling for a full federal government review of the way airports and aviation infrastructure in Canada are funded.

The C-E-O of the airline says Canada's "user pay" model for aviation infrastructure needs rethinking in light of ongoing public concerns about air travel affordability.

The country's major airports are all operated on federally owned lands by private, not-for-profit organizations and they have to pay rent to Ottawa.

Airports make money by charging fees to airlines, to businesses like restaurants and to passengers through ticket surcharges. (The Canadian Press)

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(Meta-Council-Shopify)

Shopify founder Tobi Lutke (LOOT'-kuh) has joined a council called the Meta Advisory Group.

Facebook and Instagram's parent company set up the group to advise its leadership.

The goal is to get insights and recommendations on technological advancements and innovation.

Rounding out the group are the chief executive of the payments platform Stripe, a technology investor and a former chief executive of GitHub. (The Canadian Press)

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(Business Report by The Canadian Press)

The Canadian Press