National Business

OTTAWA — Proposed new federal taxes on some financial institutions could generate $5.3 billion over the next five years, the parliamentary budget officer estimated in two new reports issued Thursday.

MILAN (AP) — Pre-pandemic fashion delirium is back.

TORONTO — Hydro One is offering First Nations a chance to invest in a 50 per cent equity stake in new capital transmission line projects worth more than $100 million.

LONDON (AP) — Britain’s central bank raised its key interest rate Thursday by another half-percentage point to the highest level in 14 years, but it avoided more aggressive steps to tame inflation taken by the U.S.

OTTAWA — Buying a new car can be an exciting but stressful exercise in the best of times, but right now supply shortages and soaring prices for used vehicles have made buying a new set of wheels harder than ever.

HAMILTON — Stelco Holdings Inc. is offering to buy back nearly half of its outstanding shares at a price of $35 per share. Under the substantial issuer bid, the company says it is looking to buy up to 30 million shares or 47.

MONTREAL — General Motors Co. is investing in Quebec battery recycling company Lithion Recycling Inc. Terms of the investment by GM Ventures in the company's series-A financing round were not immediately available.

WASHINGTON (AP) — The number of Americans filing for jobless benefits rose slightly last week with the Federal Reserve pushing hard to cool the economy and tamp down inflation. Applications for unemployment benefits for the week ending Sept.

GENEVA (AP) — Switzerland’s central bank carried out the biggest hike ever to its key interest rate Thursday, following the U.S. Federal Reserve and other central banks around the world in aggressive moves to clamp down on inflation.

BEIJING (AP) — Asian stock markets followed Wall Street lower on Thursday after the Federal Reserve delivered another big interest rate hike to cool galloping inflation and raised its outlook for more. Shanghai, Tokyo, Hong Kong and Sydney declined.