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S&P/TSX composite dips even as gold price rises to near nine-year high

S&P/TSX composite dips even as gold price rises to near nine-year high

TORONTO — Canada's main stock index dipped on rising COVID-19 infections but still outperformed its U.S. counterparts as the materials sector surged with the price of gold hitting a near nine-year high.
Canada's two largest railways move record grain in June, second quarter

Canada's two largest railways move record grain in June, second quarter

Canada's two largest railways moved record quantities of grain in the second quarter after benefiting from another strong month in June.

Detour gold mine addition boosts Kirkland Lake second-quarter production

TORONTO — Shares in Kirkland Lake Gold Ltd. jumped by 5.2 per cent to $59.71 on Tuesday after it reported higher-than-expected gold production in the second quarter ended June 30.
N.L. judge says extension of offshore drilling licence unreasonable

N.L. judge says extension of offshore drilling licence unreasonable

ST. JOHN'S, N.L. — Environmental groups are celebrating after the Newfoundland and Labrador Supreme Court ruled the province's oil and gas board acted unreasonably by extending an exploration drilling licence beyond the defined term limit.
Oilsands companies restoring production as demand growth spurs higher prices

Oilsands companies restoring production as demand growth spurs higher prices

CALGARY — Oilsands companies are restoring thousands of barrels of daily production to take advantage of higher oil prices as relaxed pandemic measures allow North American consumers to get back on the road.
Toronto home sales rose in June, but supply still hasn't caught up

Toronto home sales rose in June, but supply still hasn't caught up

TORONTO — More buyers are wading into the Greater Toronto Area housing market after putting the hunt for a home on hold at the start of the COVID-19 pandemic, but there aren't enough properties available to meet the demand.
Canadian unemployment rate to peak at 11 per cent in Q2: OECD outlook

Canadian unemployment rate to peak at 11 per cent in Q2: OECD outlook

OTTAWA — The Organization for Economic Co-operation and Development says the unemployment rate in Canada peaked in the second quarter of this year, topping the mark hit in the financial crisis.
Hiring soared in May as mass layoffs eased

Hiring soared in May as mass layoffs eased

WASHINGTON — The job market took a big step toward healing in May, though plenty of damage remains, as a record level of hiring followed record layoffs in March and April.
Budget officer pegs cost of basic income as calls for it grow due to COVID-19

Budget officer pegs cost of basic income as calls for it grow due to COVID-19

OTTAWA — The parliamentary budget office says it could cost more than $98 billion to provide almost all Canadians with a basic income for six months beginning this fall.
Uber launches new grocery delivery service in Montreal and Toronto

Uber launches new grocery delivery service in Montreal and Toronto

Uber Technologies Inc. is getting into the grocery delivery business and is using some Canadian cities to help it launch the venture.