National Business

CALGARY — A Calgary man who bilked his clients out of millions of dollars in a Ponzi scheme was sentenced Friday to 10 years in prison and ordered to pay $3.1 million in restitution for what the judge called a "deliberate and large-scale" fraud.

TORONTO — Turbulent financial markets weighed on Scotiabank's third-quarter results but the bank saw profits rise on higher interest income driven by continued loan growth.

TORONTO — Canada Goose Holdings Inc. has named Larry Li to head its business in China. Li will oversee all of the luxury parka maker's business in the Chinese market and report to Paul Cadman, Canada Goose's president of Asia Pacific.

For years, Staples Canada has advertised back-to-school supplies to the tune of the "It’s the Most Wonderful Time of the Year," with parents eager to see their children return to class after a busy summer.

TORONTO — Brookfield Infrastructure Partners LP has signed a deal with Intel Corp. to help build a semiconductor fabrication facility in Chandler, Ariz.

PUTRAJAYA, Malaysia (AP) — Malaysia’s top court on Tuesday upheld ex-Prime Minister Najib Razak’s graft conviction and 12-year jail sentence linked to the looting of the 1MDB state fund.

Canada’s largest stock index saw another day of triple-digit losses Monday, as U.S. markets also suffered a significant pullback against the backdrop of ongoing inflation fears. The S&P/TSX composite index was down 136.46 points at 19,974.92.

TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (19,974.92, down 136.46 points.) Manulife Financial Corp. (TSX:MFC). Financials. Down $1.01, or 4.18 per cent, to $23.15 on 28.

DETROIT (AP) — About 3,000 white-collar workers at Ford Motor Co. will lose their jobs as the company cuts costs to help make the long transition from internal combustion vehicles to those powered by batteries.

MOSCOW (AP) — Moving quickly to assign blame, Russia on Monday declared Ukrainian intelligence responsible for the brazen car bombing that killed the daughter of a leading right-wing Russian political thinker over the weekend.