National Business

OTTAWA — The recent surge in newcomers is adding to inflation through housing demand, a senior Bank of Canada official said Thursday, warning rental and home prices could continue to rise without a boost to housing supply.

TORONTO — Canada's financial intelligence agency says it has levied a $1.3-million penalty against CIBC for non-compliance with money laundering and terrorist financing measures. The penalty, imposed on Oct.

Federal Agriculture Minister Lawrence MacAulay wouldn't rule out the possibility of provincial or federal government intervention if the grocery code of conduct doesn't have every major retailer on board.

TORONTO — A new survey suggests a little more than half of potential first-time homebuyers are interested in using a first home savings account, even though they don't know much about it.

OTTAWA — Environment Minister Steven Guilbeault says the oil and gas industry will have to cut emissions by at least one-third by 2030.

OTTAWA — A holiday spending plan is always a good idea, but as inflation pushes the cost of everything up and higher interest rates squeeze households, a budget is more important than ever.

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.