National Business

TORONTO — Bank of Montreal is cutting jobs in its capital markets division. Spokesperson Kelly Hechler confirmed the job cuts to The Canadian Press Thursday. No additional details were provided on the number of staff or specific roles affected.

NEW YORK — Stocks closed lower on Wall Street, putting major indexes deeper in the red for the week. The S&P 500 fell 1.1% on Thursday.

Grocery store inflation may have peaked in Canada as price increases from food manufacturers stabilize, the head of Empire Company Ltd. said Thursday.

Air Canada has signed a deal to buy 30 electric-hybrid aircraft currently under development by a Swedish company.

DETROIT (AP) — General Motors said Thursday it will spend $491 million to expand and upgrade an Indiana metal stamping plant for production of steel and aluminum stamped parts for “future vehicles," including electric vehicles.

The Canadian Real Estate Association (CREA) is cutting its forecast for home sales this year and lowering its expectations for price growth as some of the country's hottest markets cool from their pandemic highs.

HALIFAX — Chorus Aviation Inc.’s board of directors has announced a new president and CEO. The company's founder, Joseph Randell announced his plan to retire in a news release Wednesday following a 37-year career in the regional aviation sector.

The tipping point for Caitlin Green came when she was buying infant formula. "I was asked to tip for an online order of baby formula," said Green, a new mom and radio announcer in Toronto. "I wasn't using Instacart or tipping someone for delivery.

Workers are scrambling to find last-minute child care across much of Canada after governments announced the sudden closure of schools to mourn Queen Elizabeth.

NEW YORK (AP) — Americans picked up their spending a bit in August from July even as surging inflation on household necessities like rent and food took a toll on family budgets. U.S. retail sales rose an unexpected 0.3% last month after falling 0.