National Business

NEW YORK — Stocks closed broadly lower on Wall Street Tuesday, extending the market's recent string of losses, as traders ponder the Federal Reserve’s next moves in its campaign to cool stubbornly hot inflation. The S&P 500 fell 1.

TORONTO — Thomas Allen & Son, one of Canada's oldest book distributors, will close its doors in a matter of months, becoming what the company's CEO describes as another casualty of consolidation in the publishing industry.

CALGARY — Cenovus Energy Inc. will boost production in 2023 to meet what it believes will be continued strong global demand for oil in the year ahead.

CARACAS, Venezuela (AP) — An oil spill has polluted more than 2.5 miles (4 kilometers) of coastline at the city of Lechería, one of Venezuela's top tourist destinations, the city's mayor said Tuesday.

MONTREAL — WSP Global Inc. says it has signed a deal to buy BG Bonnard & Gardel Holding SA, a Swiss engineering consulting firm. Financial terms of the agreement were not immediately available.

TORONTO — Canada's housing market is continuing to slow as home sales in some of the country's biggest cities retreated in November.

MONTREAL — Canadians' budgets are being stretched thin as the cost of living climbs — and to compensate, some are taking on a side hustle.

OTTAWA — Canada's merchandise trade surplus grew to $1.2 billion in October as a depreciation in the Canadian dollar helped lift the value of both exports and imports, Statistics Canada said Tuesday.

VANCOUVER — Canfor Corp. is temporarily reducing its Canadian production due to what it says are very weak market conditions. The Vancouver-based company says there will be curtailments at all of its solid wood facilities in B.C. and Alberta.

NEW YORK (AP) — Apple Music wants to help you and your friends sing along to your favorite songs with a new feature it's rolling out just as people gather for end-of-year parties.