National Business

The number of Americans applying for unemployment benefits jumped to its highest level in more than eight months last week, another indication that the red hot U.S. labor market may be softening.

Norfolk Southern’s CEO will be under more pressure to improve profits after the railroad’s shareholders voted Thursday to elect three of the board members an activist investor nominated, but he won’t be fired right away.

TORONTO — Cineplex Inc. reported a profit in its latest quarter compared with a loss a year ago as its results were boosted by the sale of its arcade game business. The movie theatre company says it earned $5.

MONTREAL — Quebecor Inc. reported its first-quarter profit was up compared with a year ago, helped by strength in its telecommunications business. The company says its net income attributable to shareholders totalled $173.

VANCOUVER — Telus Corp. raised its quarterly dividend as it reported its first-quarter profit fell compared with a year ago. The telecommunications company says it will now make a quarterly payment to shareholders of 38.

TORONTO — Canadian Tire Corp. Ltd. reported its first-quarter profit rose compared with a year ago as its revenue fell about five per cent. The retailer says its net income attributable to shareholders totalled $76.8 million or $1.

LONDON (AP) — The Bank of England maintained its key U.K. interest rate at a 16-year high of 5.25% though it gave a broad hint that a reduction could be on the cards imminently as inflation falls towards its target.

TORONTO — A book about the legal implications of developing outer space has won the $60,000 Donner Prize.

LOS ANGELES (AP) — A former top executive for major Las Vegas casinos was sentenced to a year of probation Wednesday after admitting he allowed an illegal bookmaker to gamble millions of dollars at the MGM Grand and pay off debts in cash.

LONDON (AP) — Thousands of ride-or-die Taylor Swift fans who missed out on her U.S. concert tour last year or didn't want to buy exorbitantly priced tickets to see her again found an out-of-the-way solution: Fly to Europe.