National Business

OTTAWA — Getting an income tax refund can be a happy bonus for your household budget, but an unexpected tax bill can be an unpleasant surprise, especially if you don't have the cash on hand to pay it.

WASHINGTON (AP) — The U.S. economy slowed sharply from January through March, decelerating to just a 1.1% annual pace as higher interest rates hammered the housing market and businesses reduced their inventories.

Applications for unemployment benefits in the U.S. fell last week as the labor market continues to show strength despite some weakness in other parts of the economy.

TORONTO — The Liquor Control Board of Ontario says it will phase out paper bags at its retail stores, a move the provincial agency says will save the equivalent of 188,000 trees each year.

TOKYO (AP) — Asian shares mostly fell Thursday, echoing the drop on Wall Street, as worries about the U.S. banking sector and inflationary pressures weighed on investor sentiment. Japan's benchmark Nikkei 225 declined 0.

TALLAHASSEE, Fla. (AP) — Disney sued Florida Gov.

KAMLOOPS, B.C. — The BC Financial Services Authority has issued its largest penalty to date against a Kamloops, B.C., woman who it says failed to comply with an order to stop unlicensed rental property management services.

CALGARY — Fresh from a historic merger, Canadian Pacific Kansas City president and CEO Keith Creel says the company is focused on a disciplined integration into a railway network that he believes will become "the most relevant in North America.

WASHINGTON (AP) — House Republicans narrowly passed sweeping legislation Wednesday that would raise the government's legal debt ceiling by $1.

NEW YORK — Prime Minister Justin Trudeau is headed to the U.S., hoping to capitalize on last month's well-received presidential visit as he pitches New York's movers and shakers on the virtues of Canada as a trade and investment partner.