National Business

U.S. applications for jobless benefits ticked up last week, but the overall number of people in the U.S. collecting unemployment benefits fell after hitting its highest level in two years last week.

TORONTO — Insurance company Intact Financial Corp. says its Royal & Sun Alliance Insurance Ltd. subsidiary has signed a deal to sell its U.K. home and pet insurance business to Admiral Group.

Food prices will keep rising in 2024, though at a slower pace, according to the latest Food Price Report.

OTTAWA — The long-promised cap on greenhouse gas emissions for Canada's oil and gas sector will begin as early as 2026 and use a cap-and-trade system that applies by facility, a federal government source said Wednesday.

MONTREAL — CN says it's acquiring Iowa Northern Railway, pending regulatory review. In a press release Wednesday, CN says it has signed and closed an agreement to acquire the railway, which serves upper Midwest agricultural and industrial markets.

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (20,274.21, down 101.72 points): Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Down $5.13, or 5.69 per cent, to $41.13 on 12.

TORONTO — Canada's main stock index was down more than 100 points on Wednesday, dragged lower by losses in energy as oil sank below US$70 a barrel, while U.S. markets were also down.

OTTAWA — The federal government is stepping out of the regulatory process for some offshore wind power on Canada’s east coast in an effort to reduce red tape and speed up development.

NEW YORK (AP) — Stocks closed lower on Wall Street after another sharp slide for the price of crude dragged down big oil-and-gas stocks. The S&P 500 fell 0.

OTTAWA — The Bank of Canada ended the year with another interest rate hold as the economy slows and forecasters speculate on the timing of rate cuts in 2024.