National Business

OTTAWA — Canada's economy contracted for a second straight month in May even as some sectors held up in the face of U.S. tariffs. Real gross domestic product fell 0.1 per cent in May, Statistics Canada said Thursday, matching the decline in April.

TORONTO — Canada Goose Holdings Inc. says its new lines of spring and summer clothing appear to be resonating with consumers, though the company posted a wider net loss in its latest quarter.

Cenovus Energy Inc.

A new Toronto bylaw targeting renovictions comes into effect today, requiring landlords to get a licence before carrying out repairs or renovations that force tenants to move out.

TC Energy Corp. says it sees rising demand for natural gas pipelines in the future as it reported an increase in second-quarter profit from a year earlier, despite a complex macroeconomic backdrop.

WASHINGTON (AP) — The Federal Reserve’s preferred inflation gauge ticked higher last month in a sign that President Donald Trump’s broad-based tariffs are starting to lift prices for many goods. Prices rose 2.

MONTREAL — Gildan Activewear Inc. says its earnings rose in the second quarter as it reaffirmed its full-year guidance after considering the impact of tariffs. The clothing manufacturer, which reports in U.S. dollars, says it earned US$137.

MONTREAL — Lightspeed Commerce Inc. says it lost US$49.6 million in its first quarter of 2026 compared with a net loss of US$35 million in the same quarter last year. The Montreal-based company says on an adjusted basis, it made US$7.

WASHINGTON (AP) — The number of Americans filing for jobless benefits inched up modestly last week as business continue to retain staff despite economic uncertainty around U.S. trade policy.

KYIV, Ukraine (AP) — Ukraine’s Parliament on Thursday overwhelmingly approved a bill presented by President Volodymyr Zelenskyy that restores the independence of two of the country’s key anti-corruption watchdogs, reversing his contentious move last