National Business

TORONTO — North American stock markets fell sharply as investors girded for Friday's inflation numbers in the U.S. ahead of an expected Federal Reserve rate hike next week.

MONTREAL — Skyrocketing jet fuel prices and the COVID-19 pandemic ate into the profits of Transat A.T. Inc. in its second quarter, despite higher revenues as air travel began to rebound, sparking hopes of a turbocharged summer.

Global dairy giant Saputo Inc. is confident demand for its products will remain strong in Canada despite efforts to increase farm gate milk prices for the second time this year.

A union representing SNC-Lavalin Group Inc. engineers has filed a complaint with the national labour board alleging bad-faith bargaining after a subsidiary ordered workers back to the office full-time with one business day's notice.

CIBC is the latest bank to announce wage increases in an effort to attract and retain employees in a tight labour market.

Nutrien Ltd., the Canadian company that is the largest fertilizer producer in the world, has announced a major ramp-up of potash production capacity as the war in Ukraine drives concern over global food security.

When Michael Petrovici posts a job opening for one of his northern New Brunswick restaurants, he's lucky if he gets one application.

MONTREAL — A tentative agreement has been reached between Molson Canada and the union representing some 425 workers in the Montreal area who have been on strike since March.

TORONTO — "I'd be lying if I said a looming recession wasn't worrying," says Braveen Kumar, who is currently working on building his freelance business.

AMSTERDAM (AP) — The European Central Bank will raise interest rates next month for the first time in 11 years, followed by another hike in September, as it catches up with other central banks worldwide in pivoting from supporting the economy during