National Business

NEW YORK — Wall Street had its biggest pullback of the year as a January market rally sputtered. Technology stocks led the way lower, including a 1.9% drop in Microsoft after the tech titan joined others in its industry in announcing layoffs.

The Insurance Bureau of Canada says severe weather caused $3.1 billion in insured damage in Canada in 2022, from flooding to storms to Hurricane Fiona. That makes 2022 the third worst year for insured losses in Canadian history.

NEW YORK (AP) — Americans cut back on spending in December, the second consecutive month they've done so, underscoring how inflation and the rising cost of using credit cards slowed consumer activity over the crucial holiday shopping season.

ST. JOHN'S, N.L. — Irving Oil says it has teamed up with a renewable energy producer to supply its Saint John, N.B., refinery with carbon-negative renewable natural gas. The New Brunswick company says Anaergia Inc.

TORONTO — Canadian pension funds are falling short in responding to the climate crisis despite recent progress by some, said a report by an advocacy group out Wednesday.

These are the 10 most expensive natural disasters in Canada as measured by insurance payouts, adjusted for inflation in 2021. This data is from the Insurance Bureau of Canada. 1. Fort McMurray wildfires (2016): $4 billion 2.

TORONTO — Hudson's Bay Company has unveiled a list of the first 25 Zellers locations to open inside select Hudson's Bay department stores across Canada.

TORONTO — BMO Financial Group has secured the all-clear from U.S. regulators to close its US$16.3-billion takeover of California-based Bank of the West from BNP Paribas. The deal, expected to close on Feb.

TORONTO — Postmedia is moving a dozen of its Alberta community newspapers to digital-only formats, eyeing more outsourcing deals for printing and laying off workers.

MONTREAL — MTY Food Group Inc. has raised its quarterly dividend as the operator and franchisor of restaurants like Cold Stone Creamery, Manchu Wok and Thai Express continues its post-pandemic rebound.