National Business

WASHINGTON (AP) — The prices of gas, food and most other goods and services jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs. Consumer prices surged 8.

TORONTO — Higher-than-expected U.S. inflation prompted a selloff across North American stock markets as investors fear the Federal Reserve will hike interest rates even more aggressively and push the economy into recession.

CALGARY — A group representing Canadian ranchers says their industry has been unfairly singled out by proposed new regulations that would require packaged ground beef to be sold with a health warning label.

NEW YORK (AP) — Wall Street’s shuddering realization that inflation got worse last month, not better as hoped, sent markets reeling on Friday. The S&P 500 sank 2.

"Pearson airport is hell on earth." So declared Ryan Whitney, a former NHLer, in a social media post from Toronto’s main airport this week.

NORTH LAKE, PRINCE EDWARD ISLAND — A sport fishing industry that is synonymous with Prince Edward Island is hoping for an exemption to the recent closure of the Atlantic mackerel fishery, which is its primary source of bait.

TORONTO — Brookfield Asset Management Inc. is selling five road projects in India valued at US$1.2 billion to an infrastructure investment trust partially owned by two Canadian pension funds.

OTTAWA — The national unemployment rate was 5.1 per cent in May. Statistics Canada also released seasonally adjusted, three-month moving average unemployment rates for major cities.

OTTAWA — Canada's national unemployment rate was 5.1 per cent in May. Here are the jobless rates last month by province (numbers from the previous month in brackets): _ Newfoundland and Labrador 10.0 per cent (10.8) _ Prince Edward Island 7.

OTTAWA — A quick look at Canada's May employment (numbers from the previous month in brackets): Unemployment rate: 5.1 per cent (5.2) Employment rate: 61.9 per cent (61.9) Participation rate: 65.3 per cent (65.