National Business

TORONTO — Canada's main stock index was up in late-morning trading, helped by strength in the base metal, telecommunication and utility stocks, while U.S. stock markets also climbed higher. The S&P/TSX composite index was up 67.

OTTAWA — Business insolvencies surged 87.2 per cent year-over-year in the first quarter of 2024, while consumer insolvencies rose 14 per cent.

TORONTO — A banking analyst says TD Bank Group could be hit with more severe penalties than previously expected after a report that the investigation it faces in the U.S. is tied to laundering illicit fentanyl profits.

TORONTO — The Toronto Regional Real Estate Board says Greater Toronto home sales in April were down five per cent from last year, but new listings surged, which created more choice for buyers and kept prices stable.

WASHINGTON (AP) — The nation’s employers pulled back on their hiring in April but still added a decent 175,000 jobs in a sign that persistently high interest rates may be starting to slow the robust U.S. job market.

NEW YORK (AP) — Wall Street opened sharply higher, erasing its losses for the week, after the government reported a cooldown in hiring last month.

CALGARY — TC Energy Corp. reported a first-quarter profit of $1.20 billion, down from $1.31 billion in the same quarter last year, as its revenue rose. The pipeline operator says the profit amounted to $1.

TORONTO — Magna International Inc. says its first-quarter profit fell compared with a year ago as it recorded US$316 million in asset impairments and restructuring costs related to troubled electric vehicle company Fisker.

These days, Bruce Woodrow gets most of his groceries at one of two places: Costco, and a small grocery co-operative nestled in an alley in the heart of Toronto.

Apple on Thursday disclosed its steepest quarterly decline in iPhone sales since the pandemic’s outset, deepening a slump that’s increasing the pressure on the trendsetting company to spruce up its products with more artificial intelligence.