National Business

BEIJING — Stocks closed lower on Wall Street, deepening their losses for the week, as central banks around the world raised interest rates to fight inflation. The S&P 500 fell 0.8% Thursday.

TORONTO — The Canadian dollar slid lower again Thursday, hitting lows not seen in more than two years, a day after the U.S. Federal Reserve raised its key interest rate by three-quarters of a percentage point.

The next airline hoping to pose a threat to the country's Air Canada-WestJet duopoly has landed its inaugural flight.

WASHINGTON (AP) — The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession.

TORONTO — Canada’s cannabis industry is hoping a newly launched review of the legislation that paved the way for the recreational use and sale of pot will help the sector stave off more financial difficulties.

OTTAWA — Proposed new federal taxes on some financial institutions could generate $5.3 billion over the next five years, the parliamentary budget officer estimated in two new reports issued Thursday.

MILAN (AP) — Pre-pandemic fashion delirium is back.

TORONTO — Hydro One is offering First Nations a chance to invest in a 50 per cent equity stake in new capital transmission line projects worth more than $100 million.

LONDON (AP) — Britain’s central bank raised its key interest rate Thursday by another half-percentage point to the highest level in 14 years, but it avoided more aggressive steps to tame inflation taken by the U.S.

OTTAWA — Buying a new car can be an exciting but stressful exercise in the best of times, but right now supply shortages and soaring prices for used vehicles have made buying a new set of wheels harder than ever.