National Business

Tensions between Ottawa and tech giants further escalated on Wednesday over Canada's recently passed Online News Act.

TORONTO — Canada's main stock index was down more than 100 points Wednesday amid broad-based weakness, while U.S. stock markets also slumped.

NEW YORK (AP) — Wall Street edged lower following a rally that sent it roaring 16% higher for the year so far. The S&P 500 slipped 0.2% Wednesday, edging down from its highest level since April 2022. The Dow fell 129 points, or 0.4%.

CALGARY — Canada's top technical authority on cybersecurity is working closely with Suncor Energy Inc. in the aftermath of a high-profile systems breach at the oil and gas giant.

Canada's financial consumer watchdog is warning lenders not to take advantage of mortgage holders who are facing severe financial stress as interest rates and the cost of living rise.

RICHMOND HILL, Ont. — DesRosiers Automotive Consultants Inc. says June brought another strong month for auto sales. The consultancy firm says total light vehicle sales for the month were up 12.6 per cent from a year ago.

VANCOUVER — The Real Estate Board of Greater Vancouver says last month's home prices ticked up from May as prospective homebuyers faced a dearth of supply in the region. The board says the composite benchmark sat at more than $1.

TORONTO — Brookfield Reinsurance has signed a deal to buy the part of American Equity Investment Life Holding Co. (AEL) that it does not already own in a cash-and-stock transaction that values the company at about US$4.3 billion.

DUBAI, United Arab Emirates (AP) — Iran tried to seize two oil tankers near the strategic Strait of Hormuz early Wednesday, firing shots at one of them, the U.S. Navy said. It said that in both cases, the Iranian naval vessels backed off after the U.

VANCOUVER — Kit and Ace Technical Apparel Inc. has been bought by a company co-owned by Canadian fashion designer and entrepreneur Joe Mimran. The price paid for the clothing retailer by Unity Brands Inc.