National Business

TORONTO — BMO Financial Group's third-quarter profit took a hit in part from severance costs and rising provisions for bad loans as the bank prepares for an extended stretch of economic strain.

TORONTO — A new TransUnion report shows a consistent rise in borrowing among Canadians in the second quarter as they contend with the higher cost of living.

WASHINGTON (AP) — Businesses posted far fewer open jobs in July and the number of Americans quitting their jobs fell sharply for the second straight month, clear signs that the labor market is cooling in a way that could reduce inflation.

TORONTO — Some Canadians may be overestimating their ability to manage their finances and pay off their debt, a survey by Chartered Professional Accountants of Canada shows.

NEW YORK (AP) — Best Buy sales and profits slid in the second quarter as the nation's largest consumer electronics chain continues to wrestle with a pullback in spending on gadgets after Americans splurged during the pandemic.

LUNENBURG, N.S. — High Liner Foods Inc. says chief executive Rod Hepponstall is stepping down. The company says its board has accepted Hepponstall's resignation, effective on or before Jan. 2, 2024.

WASHINGTON (AP) — The blood thinner Eliquis and popular diabetes treatments including Jardiance are among the first drugs that will be targeted for price negotiations in an effort to cut Medicare costs.

TORONTO — Canadian and U.S. autoworkers are both negotiating with the Detroit Three carmakers simultaneously for the first time in 25 years, creating the potential for a co-ordinated strike against one of the major producers.

TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (20,025.14, up 189.39 points): Suncor Energy Inc. (TSX:SU). Energy. Up 43 cents, or 0.96 per cent, to $45.20 on 13.0 million shares.

TORONTO — Strength in energy stocks as the price of oil once again topped US$80 per barrel helped lead a broad rally on the Toronto Stock Exchange Monday, lifting Canada's main stock index almost 200 points, while U.S. stock markets also climbed.