National Business

TORONTO — Canada's main stock index closed down more than 250 points Tuesday in broad losses led by energy and technology over interest rate concerns and a drop in crude prices, while U.S. stock markets were also in the red.

The rules that bolster compensation for air passengers subjected to delayed flights and damaged luggage have been largely upheld in a Federal Court of Appeal ruling.

OTTAWA — Canada's auditor general says COVID-19 benefits were delivered quickly and helped mitigate economic suffering, but the federal government hasn’t done enough to recover billions of dollars in overpayments.

A court ruling has largely upheld the validity of Canada's air passenger bill of rights, which was introduced by the Canadian Transportation Agency in 2019.

TORONTO — A former director of quality and compliance at CannTrust Holdings Inc. says he warned the company's chief executive that Health Canada could levy penalties if the firm grew cannabis in unlicensed rooms at its Niagara, Ont. facility.

NEW YORK — Stocks closed broadly lower on Wall Street Tuesday, extending the market's recent string of losses, as traders ponder the Federal Reserve’s next moves in its campaign to cool stubbornly hot inflation. The S&P 500 fell 1.

OTTAWA — Tens of millions of doses of COVID-19 vaccines are likely about to expire and go to waste because of a failure to manage an oversupply, Canada's auditor general reported Tuesday — a failure with an estimated price tag of about $1 billion.

TORONTO — Thomas Allen & Son, one of Canada's oldest book distributors, will close its doors in a matter of months, becoming what the company's CEO describes as another casualty of consolidation in the publishing industry.

CALGARY — Cenovus Energy Inc. will boost production in 2023 to meet what it believes will be continued strong global demand for oil in the year ahead.

CARACAS, Venezuela (AP) — An oil spill has polluted more than 2.5 miles (4 kilometers) of coastline at the city of Lechería, one of Venezuela's top tourist destinations, the city's mayor said Tuesday.