National Business

TORONTO — Losses in industrial, utility and financial stocks weighed on the Toronto stock market as Canada's main stock index fell more than 100 points Tuesday, while U.S. stock markets were mixed. The S&P/TSX composite index closed down 108.

NEW YORK (AP) — Most U.S. stocks fell as a tick higher in bond yields tightened the screws a bit on Wall Street following a three-day weekend. The S&P 500 closed little changed Tuesday and is sitting just below its record set a week ago.

TORONTO — Rising strain in auto loans and mortgages led Scotiabank to set aside more money in the second quarter, leading to a drop in profits and analyst concern about its growth prospects. The bank said Tuesday its net income fell to $2.

OpenAI says it's setting up a safety and security committee and has begun training a new AI model to supplant the GPT-4 system that underpins its ChatGPT chatbot.

WASHINGTON (AP) — Consumer confidence in the U.S. rose in May after three straight months of declines, though Americans are still anxious about inflation and interest rates.

TORONTO — Private equity firm Reichmann Segal Capital Partners says it has acquired Athletica Sport Systems Inc., a maker of boards and other equipment used for hockey rinks. Terms of the transaction were not disclosed.

Between inflation, housing costs and interest rates, debt is ballooning for many younger Canadians. Scott Terrio sees it all the time.

A new report suggests an increasing number of Canadians are seeing their credit card balances balloon as the cost-of-living crisis and higher interest rates eat into household budgets.

T-Mobile is buying U.S. Cellular's wireless operations and certain spectrum assets in a deal valued at $4.4 billion, and further consolidating the industry. As part of the agreement, T-Mobile will get U.S.

BURNABY — The British Columbia government says a new online "hub" will speed up building permit processes across jurisdictions.