National Business

OTTAWA — The ongoing affordability crunch and the threat of a looming recession will be front and centre as the federal Liberal cabinet holds a post-holiday cabinet retreat this week.

SAN FRANCISCO (AP) — Elon Musk took the witness stand Friday to defend a 2018 tweet claiming he had lined up the financing to take Tesla private in a deal that never came close to happening.

TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange: Toronto Stock Exchange (20,503.21, up 161.77): Enbridge Inc. (TSX:ENB). Energy. Up 28 cents, or 0.50 per cent, to $56.02 on 12 million shares. BlackBerry Ltd.

WASHINGTON — The relationship between Canada and Mexico has long been the weak link in North America's trilateral triangle, and foreign policy experts say reinforcing it will be key if the continent is to realize its true economic potential.

TORONTO — Canada's main stock index was up more than 150 points Friday on broad-based gains, while U.S. markets also rose with an end-of-week rally driven by significant strength in the tech sector. The S&P/TSX composite index was up 161.

NEW YORK — A rally for tech stocks applied some salve on Wall Street’s rough week, one dominated by worries about a weakening economy. The S&P 500 rose 1.9% Friday, but still ended with its first weekly loss in the last three. The Nasdaq added 2.

TORONTO — Members of Canada's technology industry say another wave of layoffs the sector saw this week is tipping the power dynamic back in favour of employers.

OTTAWA — Statistics Canada says November saw the lowest number of employment insurance beneficiaries on record in 25 years.

Magnet Forensics Inc. says it will be bought and taken private in a $1.8-billion deal signed with Thoma Bravo, a U.S. private equity firm operating in the software sector. Waterloo, Ont.

TORONTO — Sun Life Financial Inc. says it has struck a 15-year deal to be to the exclusive provider of insurance products for Hong Kong-based Dah Sing Bank Ltd.