National Business

WASHINGTON (AP) — General Motors will pay nearly $146 million in penalties to the federal government because 5.9 million of its older vehicles don't comply with emissions and fuel economy standards.

NEW YORK (AP) — Wall Street’s record-breaking rally kept going after weak reports on the economy kept the door open for possible cuts to interest rates. The S&P 500 rose 0.5% Wednesday to set an all-time high for the 33rd time this year.

HALIFAX — A boil-water advisory that had affected more than 200,000 people living and working in Halifax and the surrounding area was lifted Wednesday morning, 40 hours after it came into effect.

OTTAWA — Canada's merchandise trade deficit widened to $1.9 billion in May as exports fell to their lowest level since July last year. The result compared with a revised trade deficit of $1.3 billion for April, Statistics Canada said Wednesday.

OpenText Corp.'s chief executive says the company plans to shed about 1,200 roles as part of a business optimization plan.

CALGARY — Eleven clean energy projects, most of which are based in Alberta, have been selected to receive a total of $11 million in federal funding.

Canadians are continuing to be laid off as part of a wave of job cuts that began in 2023 as companies assessed their operations after the height of the COVID-19 pandemic passed.

Even though rental housing construction in Canada has picked up significantly, more is needed to fill the demand backlog, according to a new RBC report.

VANCOUVER — Greater Vancouver's real estate board says the number of homes sold in June tumbled 19.1 per cent from the previous year as inventory continued accumulating to levels not seen since the spring of 2019.

TORONTO — Canada's main stock index was up 250 points in late-morning trading, helped by strength in base metal stocks, while U.S. stock markets were mixed. The S&P/TSX composite index was up 250.48 points at 22,204.28.