National Business

TORONTO — Royal Bank of Canada raised its dividend as it reported its second-quarter profit fell compared with a year ago and the amount of money it set aside for bad loans rose. The bank says it will now pay a quarterly dividend of $1.

TORONTO — CIBC raised its quarterly dividend as it reported a second-quarter profit of $1.69 billion. The bank said Thursday it will now pay a quarterly dividend of 87 cents per share, up from 85 cents.

CAIRO (AP) — A Hong Kong-flagged ship briefly ran aground Thursday in Egypt's vital Suez Canal, though authorities said they were able to refloat it after it momentarily disrupted the waterway.

CARSON CITY, Nev. (AP) — Republican Nevada Gov.

WASHINGTON — The United States won't go into default on its debt, House Speaker Kevin McCarthy predicted Wednesday — but the highest-ranking Republican on Capitol Hill also said it won't be his fault if it does.

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (19,927.69, down 218.32): Manulife Financial Corp. (TSX:MFC). Finance. Down 57 cents, or 2.23 per cent, to $25.02 on 12.

TORONTO — Canada's main stock index was down more than 200 points Wednesday, with financials, metals and industrials leading the decline, while U.S. stock markets also retreated as debates over the country's debt ceiling remained unresolved.

TORONTO — Weakening economic conditions weighed on Canadian banks as they began to report second quarter results Wednesday.

MONTREAL — Artificial intelligence pioneer Yoshua Bengio says regulation in Canada is on the right path, but progress is far too sluggish.

WASHINGTON (AP) — Federal Reserve officials were divided earlier this month on whether to pause their interest rate hikes at their upcoming meeting in June, according to the minutes of their May 2-3 meeting released Wednesday.