National Business

TORONTO — Canada's main stock index was up nearly 250 points Tuesday, swept up by a reversal in oil prices and broad-based gains, while U.S. markets also rose. The S&P/TSX composite index was up 242.88 points at 20,220.01.

OTTAWA — Counsel for the Competition Bureau tried to build the case Tuesday that Shaw Communications Inc. is not in as troubled a position as the company has made it seem as the hearing on the $26-billion proposed deal with Rogers Communications Inc.

WASHINGTON (AP) — The Supreme Court on Tuesday cleared the way for the imminent handover of former President Donald Trump's tax returns to a congressional committee after a three-year legal fight.

MONTREAL — Young Canadians feeling the pinch of inflation want to splurge on holiday gifts for loved ones — so they're cutting back on other festive costs instead.

Canadian Tire Corp. has failed to ensure garment workers in its South Asian supplier factories are paid a living wage, labour groups allege in a complaint filed with a federal corporate watchdog.

WASHINGTON — Canada and the United States are road-testing a workaround for their irreconcilable differences over Nexus — evidence, officials say, of a shared bilateral commitment to the treasured but imperilled fast-traveller program.

VANCOUVER — Tourism spending in Canada is expected to recover sooner than previously anticipated.

ABUJA, Nigeria (AP) — Nigeria on Tuesday began drilling oil and natural gas in the country’s northern region, anticipating a boost to the nation's finances even as the new energy supplies face the threat from theft and extremist activity.

Russian energy giant Gazprom has threatened to reduce natural gas supplies through the last pipeline heading to Europe via Ukraine, saying the amount it's supplying for Moldova is not ending up in the former Soviet republic.

OTTAWA — Recent homebuyers with variable-rate mortgages will find the adjustment to higher interest rates more painful, said Bank of Canada senior deputy governor Carolyn Rogers.