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TORONTO — The head of Canadian Tire Corp. Ltd. says indebted shoppers are cutting back on spending even more — and he doesn't see that trend turning around quickly.

Ottawa Mayor Mark Sutcliffe says the city is facing a "financial crisis" that raises the spectre of tax hikes and service cuts, alleging the city has been treated unfairly on issues of taxes and transit by the federal and provincial governments.

SURREY, B.C. — A provincial court judge in Surrey, B.C., has thrown out a small claims case between a lumber company and a fence building firm over an "unlawful scheme" between the two to avoid paying GST and PST.

The world's largest potash producer warned its sales volumes for 2024 could take a hit if a possible strike by thousands of Canadian rail workers goes ahead this month. Nutrien Ltd.

OTTAWA — The Bank of Canada has named three experts that will assess its internal review of the central bank's policy response to the COVID-19 pandemic. The experts are Pablo Hernández de Cos, former governor of the Bank of Spain, Kristin J.

TORONTO — Brookfield Corp. reported distributable earnings of US$2.13 billion in its latest quarter, up from US$1.19 billion in the same quarter last year. The investment firm, which keeps its books in U.S. dollars, says the result amounted to US$1.

TORONTO — The owner of Canada's most recognizable fast-food chain managed to grow its profit in its most recent quarter, even as a pullback in consumer spending that's long been roiling retailers cropped up in the quick-serve market.

The average rate on a 30-year mortgage fell this week to its lowest level in more than a year, a welcome affordability boost for prospective homebuyers and homeowners looking to refinance their home loan to a lower rate. The rate fell to 6.

The number of Americans filing for jobless benefits fell last week but remain at slightly elevated though not troubling levels. Jobless claims for the week of Aug. 3 fell by 17,000 to 233,000 last week, the Labor Department reported Thursday.

TORONTO — CIBC is adding TC Energy Corp. chief executive François Poirier to its board of directors. The major Canadian bank says Poirier will join its board effective Sept. 1.