National Business

OTTAWA — Residential mortgage debt grew last year by the fastest pace since 2008 says a new report from Canada Mortgage and Housing Corp.

New research paints a sombre outlook for Canadian household finances as inflation takes a bite out of real wages and rising interest rates mute economic growth.

TORONTO — Talks between the Competition Bureau and Rogers Communications Inc. and Shaw Communications Inc. this week failed to resolve the regulator's objections to their merger, the companies said Wednesday.

BRUSSELS (AP) — European Union lawmakers voted Wednesday to include natural gas and nuclear in the bloc's list of sustainable activities, backing a proposal from the EU's executive arm that has been drawing fierce criticism from environment groups an

MONTREAL — The Paper Excellence Group has signed a deal to buy Resolute Forest Products Inc. in an agreement that values the company at US$2.7 billion.

TORONTO — Commercial real estate firm CBRE says for the second quarter in a row, the country's suburban office vacancy level was lower than the rate seen for downtown regions.

TORONTO — June sales of Toronto homes fell by roughly 41 per cent compared with the same month last year as higher borrowing costs weighed on the market, the region’s real estate board said Wednesday.

MONTREAL — Air Canada and Toronto's Pearson airport again claimed the top spots for flight delays on Tuesday, marking at least four days in a row where the country's biggest airline has placed No. 1 of any large carrier worldwide.

CALGARY — Ovintiv Inc. has signed a pair of deals to sell portions of its assets located in the Uinta and Bakken Basins for total proceeds of approximately US$250 million.

ABUJA, Nigeria (AP) — The Secretary-General of the Organization of Petroleum Exporting Countries has died, Nigerian authorities and the oil cartel announced Wednesday.