National Business

NEW YORK (AP) — The U.S. trade deficit soared to a record $140.

TORONTO — RioCan Real Estate Investment Trust has taken a quarterly loss and trimmed its earnings guidance because of the financial fallout from its joint venture with teetering retailer Hudson's Bay Co.

EDMONTON — The chief of staff to Alberta Premier Danielle Smith is defending a business class flight he charged to taxpayers, citing a health condition that increases his risk of blood clots.

TORONTO — George Weston Ltd.

TORONTO — Home sales in the Greater Toronto Area were down 23.3 per cent in April amid continued uncertainty over the economy, as prices fell for the third month in a row.

OTTAWA — Canada posted a merchandise trade deficit of $506 million in March as exports to the U.S. fell with the implementation of new tariffs, but shipments to other countries climbed. Statistics Canada says the result compared with a deficit of $1.

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LONDON (AP) — Britain and India announced Tuesday that they have agreed on a long-stalled free trade agreement that will slash tariffs on Scotch whisky and scores of other products.

TORONTO — Brookfield Asset Management Ltd. reported its first-quarter profit rose compared with a year ago. The alternative asset manager, which keeps its books in U.S.

MARKHAM — Pet Valu Holdings Ltd. reported its first-quarter profit and revenue rose compared with a year ago. The pet food retailer says it earned $21.