National Business

TORONTO — CIBC has agreed to pay a total of $153 million to settle a class-action lawsuit filed more than a decade ago over the bank's overtime policies, lawyers for the plaintiffs say.

OTTAWA — Bond portfolios took a beating in 2022 as interest rates climbed, but experts say investors shouldn't neglect bonds this year as the Bank of Canada nears the end of its rate hike cycle.

WASHINGTON (AP) — Fewer Americans applied for jobless benefits last week, reflecting a still-robust job market despite the Federal Reserve's efforts to cool the economy and bring down decades-high inflation.

DesRosiers Automotive Consultants Inc. says light vehicle sales were up 5.5 per cent in December compared with last year but were down for the whole year.

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (19,588.83, up 145.06): Toronto-Dominion Bank (TSX:TD). Financials. Up $1.14, or 1.30 per cent, to $88.81 on 19.9 million shares.

TORONTO — Canada's main stock index gained almost 150 points on Wednesday, buoyed by strength in the financial and technology sectors despite weakness in energy stocks, while U.S. markets also rose. The S&P/TSX composite index was up 145.

NEW YORK — Stocks ended higher on Wall Street after a day of wavering as minutes from the Federal Reserve’s last meeting of policymakers underscored how the central bank remains determined to keep rates high to crush inflation.

Greater Vancouver ended 2022 with another month of prospective homebuyers taking a "wait and see" approach, which the region's real estate board said pushed down sales by 52 per cent and prices three per cent from the year before.

BRUSSELS (AP) — The European Union on Wednesday “strongly encouraged” its member states to impose pre-departure COVID-19 testing of passengers from China, in a move that is likely to upset Beijing and has already been criticized by the global airline

WASHINGTON (AP) — Federal Reserve officials suggested at their most recent meeting that a continuing streak of robust hiring could keep inflation elevated and was a key reason why they expected to raise interest rates this year more than they had pre