National Business

Kansas City Southern has formally backed a merger offer from Canadian National Railway Co., but Canadian Pacific Railway Ltd. says it will still seek regulatory approval for its rival offer in case the CN deal is unable to proceed.

TORONTO — Jack Newton has big plans for the next two years. His Burnaby, B.C.

TORONTO — A U.K. company that tracks the performance of home internet connections around the world is asking for Canadians to share their data this summer.

Sales of previously occupied U.S. homes fell for the third straight month in April as the number of properties for sale hit a record low, driving prices to new highs. Existing home sales fell 2.

NEW YORK (AP) — Kansas City Southern has abandoned its agreement to be acquired by Canadian Pacific, choosing instead a competing bid from Canadian National Railway with a bigger price tag, but also greater regulatory risks.

OTTAWA — Retail sales rose 3.6 per cent to $57.6 billion in March as COVID-19 restrictions relaxed in some parts of the country, but Statistics Canada said a preliminary estimate pointed to a drop in April as the rules were tightened again.

MONTREAL — Hydro-Quebec says the Canada Energy Regulator has issued the permit authorizing the construction and operation of the Appalaches–Maine Interconnection line.

NEW DELHI (AP) — An Indian trial court on Friday acquitted the founder and editor of an investigative magazine of the charge of sexually assaulting a female journalist in the elevator of a five-star hotel nearly eight years ago.

VANCOUVER — A British Columbia First Nations coalition says it's disappointed by the news that a second major investor is looking to sell its shares in the Kitimat Liquefied Natural Gas development. Woodside Petroleum Ltd.

NEW YORK (AP) — Musical luminaries including Nas, LL Cool J, and Fat Joe came out Thursday to the birthplace of hip-hop for a ground-breaking ceremony to launch the capital campaign for the new Universal Hip Hop Museum.