National Business

OTTAWA — The federal government posted a surplus of $10.2 billion in the first quarter of the fiscal year. According to the Finance Department's monthly fiscal monitor report, the surplus posted for April to June compared with a deficit of $36.

JACKSON HOLE, Wyoming (AP) — Federal Reserve Chair Jerome Powell delivered a stark message Friday: The Fed will likely impose more large interest rate hikes in coming months and is resolutely focused on taming the highest inflation in four decades .

TORONTO — After fuelling Canada's economy through the COVID-19 pandemic, the real estate market is showing signs of weakness as home prices fall and bidding wars dissipate. It's welcome news for prospective buyers hoping for a better price.

LONDON (AP) — Jennifer Jones keeps feeding money into her energy meter , but it never seems to be enough. And when she can’t pay, she feels the impact immediately.

SACRAMENTO, Calif. (AP) — California set itself on a path Thursday to end the era of gas-powered cars, with air regulators adopting the world's most stringent rules for transitioning to zero-emission vehicles.

Waterloo, Ont.-based tech company OpenText says it will acquire Micro Focus International plc in a deal valued at $6 billion. The all-cash deal will see OpenText acquire the U.K.

TORONTO — The well-being of physicians across Canada has significantly decreased with many doctors reporting poorer mental health than before the COVID-19 pandemic, a new survey suggests.

TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (20,172.34, up 150.96 points.) Barrick Gold Corp. (TSX:ABX). Materials. Down four cents, or 0.19 per cent, to $21.15 on 17.

Canada's main stock index gained more than 150 points Thursday and U.S. markets also edged higher in advance of a highly anticipated meeting of the U.S. Federal Reserve in Jackson Hole, Wyo. The S&P/TSX composite index closed up 150.

TORONTO — TD Bank Group followed several of its peers in reporting a profit drop for the third quarter as banks set aside funds for a potential recession ahead, even as loans continued to grow and consumer savings rates remained elevated.