National Business

Young Canadians are facing rising rents and mortgage costs on top of higher grocery and gas bills — and for those on the job hunt, negotiating a higher salary is likely to be front of mind.

SANTA ANA, Calif. (AP) — A pipeline operator has agreed to pay $50 million to thousands of Southern California fishermen, tourism companies and property owners who sued after an offshore oil spill last year near Huntington Beach.

BRUSSELS (AP) — European Union leaders enter a crucial stretch this week to make sure runaway energy prices and short supplies don't further tank their struggling economies and foment unrest.

NEW YORK (AP) — French cement company Lafarge pleaded guilty Tuesday to paying millions of dollars to the Islamic State group so that a plant in Syria could remain open, a case that the Justice Department described as the first of its kind.

OTTAWA — A new economic outlook by the Conference Board of Canada says a recession is possible, but the underlying conditions are working in the economy's favour.

Holiday spending in Canada is expected to drop this year as inflation shrinks consumer buying power and economic uncertainty looms over household budgets, a new report says.

TORONTO — Former federal finance minister Bill Morneau will join CIBC's board of directors next month. The bank says Morneau will become a member of the board effective Nov. 1.

BERLIN (AP) — The head of Germany's national cybersecurity agency has been dismissed following reports of possible ties to Russian intelligence, the Interior Ministry said Tuesday.

OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts in September rose to the highest level since November 2021.

TORONTO — Iamgold Corp. has signed a deal to sell its 95 per cent interest in Rosebel Gold Mines N.V. to Chinese company Zijin Mining Group Co. Ltd. for US$360 million in cash.