National Business

Holiday spending in Canada is expected to drop this year as inflation shrinks consumer buying power and economic uncertainty looms over household budgets, a new report says.

TORONTO — Former federal finance minister Bill Morneau will join CIBC's board of directors next month. The bank says Morneau will become a member of the board effective Nov. 1.

BERLIN (AP) — The head of Germany's national cybersecurity agency has been dismissed following reports of possible ties to Russian intelligence, the Interior Ministry said Tuesday.

OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts in September rose to the highest level since November 2021.

TORONTO — Iamgold Corp. has signed a deal to sell its 95 per cent interest in Rosebel Gold Mines N.V. to Chinese company Zijin Mining Group Co. Ltd. for US$360 million in cash.

MOSCOW (AP) — A Russian warplane crashed Monday into a residential area in a Russian city on the Sea of Azov after suffering engine failure, leaving at least 13 people dead, three of whom died when they jumped from upper floors of a nine-story apartm

BANGKOK (AP) — Stocks were mostly higher in Asia on Tuesday after Wall Street rallied in its latest about-face in recent topsy-turvy trading. Oil prices and U.S. futures advanced and the dollar was trading near 149 Japanese yen.

SEOUL, South Korea (AP) — The members of K-pop band BTS will serve their mandatory military duties under South Korean law, their management company said Monday, effectively ending a debate on whether they should be granted exemptions

The rapper formerly known as Kanye West is offering to buy right-wing friendly social network Parler shortly after getting locked out of Twitter and Instagram for antisemitic posts.

TORONTO — Canada’s main stock index closed up almost 300 points Monday ahead of Statistics Canada releasing its latest inflation data on Wednesday, while U.S. markets were also up. The S&P/TSX composite index was up 294.67 points at 18,621.02.