National Business

LONDON — Microsoft is pledging to let business and public sector customers in the European Union keep cloud computing data inside the 27-nation bloc to avert concerns about U.S. government access to sensitive information.

WASHINGTON — U.S. productivity posted a sharp rebound between January and March after falling in the previous quarter. Labor costs declined slightly. Productivity increased at an annual rate of 5.4% in the first quarter, recovering from a 3.

LONDON — The Bank of England has kept interest rates on hold as it forecast the fastest annual pace of growth for the British economy since early on in World War II, largely as a result of the rapid rollout of coronavirus vaccines.

NEW YORK — Like so many, the pandemic upended life for actor and dancer Rena Riffel. The Los Angeles-based performer needed help with rent, utilities and counselling when jobs suddenly dried up.

AURORA, Ont. — Magna International Inc. said a strong recovery in the global auto sector and massive growth in the Chinese market led to a first-quarter profit of US$615 million, up from US$261 million a year ago as its sales rose 18 per cent.

WASHINGTON — The number of Americans seeking unemployment aid fell last week to 498,000, the lowest point since the viral pandemic struck 14 months ago and a sign of the job market's growing strength as businesses reopen and consumers step up spendin

MILAN — The Netflix series “Zero,” which premiered globally last month, is the first Italian TV production to feature a predominantly Black cast, a bright spot in an otherwise bleak Italian television landscape where the persistent use of racist lang

MONTREAL — Gildan Activewear Inc. reinstated its dividend as it swung to a US$98.5-million profit in the first quarter with help from a U.S. pandemic support program for cotton users. The Montreal-based company, reporting in U.S.

TORONTO — Sun Life Financial Inc. says its net profit grew to $937 million in the first quarter as it recorded a restructuring charge related to redefining the role of the office.

TORONTO — Manulife Financial Corp. says its core net profits surged in the first quarter but overall net income attributed to shareholders was lower due to a steepening yield curve in North America.