National Business

BANFF, Alta. — Preventing current high inflation levels from becoming embedded into the public's expectations is key if the country is to avoid falling into recession, former Bank of Canada governor Stephen Poloz said Thursday.

TORONTO — Canadian and U.S. markets were again under pressure Thursday after the Federal Reserve rate decision a day earlier indicated more rate hikes, and economic pain, to come.

BEIJING — Stocks closed lower on Wall Street, deepening their losses for the week, as central banks around the world raised interest rates to fight inflation. The S&P 500 fell 0.8% Thursday.

TORONTO — The Canadian dollar slid lower again Thursday, hitting lows not seen in more than two years, a day after the U.S. Federal Reserve raised its key interest rate by three-quarters of a percentage point.

The next airline hoping to pose a threat to the country's Air Canada-WestJet duopoly has landed its inaugural flight.

WASHINGTON (AP) — The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession.

TORONTO — Canada’s cannabis industry is hoping a newly launched review of the legislation that paved the way for the recreational use and sale of pot will help the sector stave off more financial difficulties.

OTTAWA — Proposed new federal taxes on some financial institutions could generate $5.3 billion over the next five years, the parliamentary budget officer estimated in two new reports issued Thursday.

MILAN (AP) — Pre-pandemic fashion delirium is back.

TORONTO — Hydro One is offering First Nations a chance to invest in a 50 per cent equity stake in new capital transmission line projects worth more than $100 million.