National Business

NEW YORK (AP) — Wall Street returned to record heights Friday to cap a punishing, two-year round trip dogged by high inflation and worries about a recession that seemed inevitable but hasn’t arrived.

TOKYO (AP) — Japan became the fifth country in history to reach the moon when one of its spacecrafts without astronauts successfully made a soft landing on the lunar surface early Saturday.

TORONTO — The head of Canada's banking regulator says he's ramping up scrutiny of money laundering in the financial sector as risks increase.

MONTREAL — Engine supplier Honeywell International Inc. must negotiate with Bombardier Inc. on the cost of the jet engines it rolls out for the Montreal-based plane maker, a Quebec Superior Court judge has ruled.

TORONTO — Wayfair says about 50 Canadians are part of a layoff impacting 1,650 employees at the home goods company. Spokesperson Susan Frechette says the 50 Canadians are all in Ontario.

DAVOS, Switzerland (AP) — Business and political elites descended on the Swiss Alpine snows of Davos to suss out “rebuilding trust” in a splintering world.

Canada's holiday sales period got underway in November with a 0.2 per cent decline in retail sales led by falling purchases at food and beverage retailers.

TORONTO — Blackstone Real Estate says it will purchase all outstanding shares in Tricon Residential Inc. and take the Toronto-based rental development company private. New York-based Blackstone says it will pay about US$11.

OTTAWA — A group representing key Canadian businesses wants legislative changes that would allow Canada's spy agency to share threat intelligence with companies to help them take timely protective measures.

MONTREAL — Best Buy Canada and Bell Canada have announced a partnership to rebrand and revamp 165 The Source stores.