National Business

OTTAWA — Bank of Canada governor Tiff Macklem says the financial system has to adjust to higher interest rates, just like the rest of the economy. Macklem addressed the recent banking stress that was set off in the U.S.

ST. JOHN'S, N.L. — Though Muskrat Falls has weighed heavily on Newfoundland and Labrador's finances and residents' morale, reaction was surprisingly muted to an announcement this week that the project is finally considered to be in working order.

NEW YORK (AP) — They're the biggest of brands. But with no logos. And that's the whole point. Call it stealth wealth, or quiet luxury.

OTTAWA — Statistics Canada says manufacturing sales fell 3.6 per cent to $71.5 billion in February, as sales of petroleum and coal products helped lead the drop. The agency says the decline followed a revised 4.5 per cent increase in January.

The Canadian Real Estate Association expects the average price of a home to end the year 4.8 per cent lower than 2022, but says prices will rise by roughly the same amount in 2024.

MONTREAL — Reitmans (Canada) Ltd. says it saw sales rise in its fourth quarter and full fiscal year, while net earnings were down. The Montreal-based retailer says sales for the fourth quarter of fiscal 2023 increased by 11.4 per cent to $211.

SAN FRANCISCO (AP) — A tech consultant was arrested and charged with murder Thursday in the stabbing death of the gregarious and popular Cash App founder Bob Lee last week in downtown San Francisco, authorities said.

TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (20,564.49, up 110.17): Copper Mountain Mining Corp. (TSX:CMMC). Materials. Up 41 cents, or 18.14 per cent, to $2.67 on 10.

REGINA — The rebranding of the tourism agency of Saskatchewan's capital city is being walked back as an independent review is set to examine what happened before the campaign rollout drew intense criticism.

TORONTO — Canada's main stock index rose more than 100 points Thursday while U.S. stock markets climbed steadily throughout the day to post gains of more than one per cent after two pieces of positive economic news.