National Business

LONDON (AP) — Russia's war in Ukraine and the energy and food crises it worsened will severely drag down global economic growth and push up inflation this year, the Organization for Economic Cooperation and Development said Wednesday.

TORONTO — When the COVID-19 pandemic struck and many abandoned in-person shopping and dining out, brick-and-mortar retail became one of the most undesirable assets in Canada.

NEW YORK (AP) — Banks and technology companies are leading stocks lower in morning trading on Wall Street early Wednesday, but major indexes are still holding on to gains for the week. The S&P 500 slipped 0.

VAUGHAN, Ont. — Bausch + Lomb Corp. reported its first-quarter profit fell compared with a year ago as its revenue edged higher. The company, which is being spun off from Bausch Health Companies Inc.

NEW YORK (AP) — Meltdowns in the cryptocurrency space are common, but the latest one really touched some nerves. Novice investors took to online forums to share tales of decimated fortunes and even suicidal despair.

WASHINGTON (AP) — Treasury Secretary Janet Yellen acknowledged Tuesday that she and Federal Reserve Chair Jerome Powell “could have used a better word” than “transitory” when describing the expected run of inflation in the U.S. economy.

MONTREAL — Stingray Group Inc. capped a challenging year with net profits plunging to $4.5 million in the fourth quarter despite higher revenues.

TORONTO — Grocery giant Empire Company Ltd. is moving forward with a new loyalty program after becoming a co-owner of the Scene+ program operated by Cineplex Inc. and Scotiabank. The three parties announced the new partnership on Tuesday.

DETROIT (AP) — Federal investigators say Goodyear knew that some of its recreational vehicle tires could fail and cause severe crashes, yet it didn't recall them for as many as 20 years.

Shopify Inc. shareholders voted to solidify founder and CEO Tobi Lütke's voting power for as long as he is at the company andensurehe, his family and affiliates will hold 40 per cent of the company's voting power.