National Business

NEW YORK (AP) — Wall Street’s sell-off hit a new low Thursday after President Donald Trump’s escalating trade war dragged the S&P 500 more than 10% below its record , which was set just last month.

Empire Co. Ltd.'s CEO says the grocer is seeing sales of products from the U.S. "rapidly dropping" as shoppers look to support the Canadian economy and avoid the potential effects of tariffs.

OTTAWA — Industry Minister François-Philippe Champagne directed his department on Wednesday to prioritize investments in projects that primarily use Canadian steel and aluminum — part of Ottawa's reply to the Trump administration's trade war.

MONTREAL — The head of Transat A.T. Inc. says Canadians' appetite for travel remains unsated — at least for overseas trips — even as pocketbook worries grow amid a trade war with the United States.

The chief executive of one of Canada's largest steel producers says the company is in discussions with federal and provincial leaders to determine what government support might be available to help offset the Trump administration's tariffs.

OTTAWA — Many consumer goods could be up to 25 per cent more expensive in Canada due to retaliatory tariffs against the U.S. — including the kitchen sink. Matching 25 per cent tariffs on $29.

WASHINGTON (AP) — U.S. wholesale inflation decelerated last month, suggesting that price pressures are easing for now. But the progress may not last as President Trump intensifies his trade wars .

BRUSSELS (AP) — Belgian federal prosecutors on Thursday announced the arrests of several people in a corruption probe linked to the European Parliament and the Chinese company Huawei, which is suspected of bribing EU lawmakers.

TORONTO — Cohere Inc. says it has released a new enterprise generative artificial intelligence model that is "on par or better than" GPT-4o and DeepSeek-V3.

MONTREAL — AtkinsRéalis Group Inc. announced the sale of its remaining stake in Ontario’s 407 toll highway operator in a $2.79-billion deal that caps off the company's push to become a pure-play engineering firm.