National Business

WASHINGTON (AP) — The Federal Reserve reinforced its fight against high inflation Wednesday by raising its key interest rate by a quarter-point to the highest level in 16 years.

WASHINGTON (AP) — Elon Musk threatened to reassign NPR’s Twitter account to “another company,” according to the non-profit news organization, in an ongoing spat between Musk and media groups since his $44 billion acquisition of Twitter last year.

WASHINGTON — Canada threw a "hissy fit" over President Joe Biden's original plan to boost the sales of American-made electric vehicles, the U.S.

TORONTO — Canadian Tire Corp. Ltd.'s more than 200 retail fuel sites will be rebranded under Petro-Canada in a new partnership between the retailer and the fuel brand. Canadian Tire says in a joint release with Suncor Energy Inc.

CALGARY — Parkland Corp. says it earned $77 million in the first quarter of 2023, up 40 per centfrom $55 million a year earlier.

MONTREAL — Gildan Activewear Inc. says it earned US$97.6 million in the first quarter of 2023, down 33.3 per cent from US$146.4 million a year earlier. The Montreal-based company, which reports in U.S.

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (20,354.68, down 52.88): Enbridge Inc. (TSX:ENB). Energy. Up 41 cents, or 0.78 per cent, to $52.95 on 16.5 million shares.

CALGARY — Former Saskatchewan premier Brad Wall says he doesn't know enough of the details to take a public stance on the merits of mining giant Glencore PLC's ongoing hostile takeover bid for Teck Resources Ltd.

TORONTO — Canada's main stock index posted a small loss Wednesday, weighed down by weakness in energy stocks as the price of oil fell below US$70 a barrel, while U.S. stock markets were also down after the Federal Reserve hiked interest rates again.

Efforts to craft a Canadian grocery code of conduct have reached a major milestone with a proposed final version that includes a process to resolve disputes and impose sanctions on systemic violators of the code.