National Business

ST. JOHN'S — The RCMP have taken over the search for a pilot reported missing after his small aircraft crashed in the Atlantic Ocean off the east coast of Newfoundland on Tuesday morning.

OTTAWA — Stock markets have taken a wild ride in recent weeks as U.S. President Donald Trump's on-again, off-again tariffs have created massive uncertainty for companies and the economy at large.

U.S. applications for jobless benefits jumped to their highest level in two months, but layoffs remain in a historically healthy range despite increasing fears of a tariff-induced economic slowdown.

WINNIPEG — Great-West Lifeco Inc. says its president and CEO Paul Mahon is set to retire July 1 and will be succeeded by David Harney. Mahon has spent 39 years with the company, including the past 12 as its chief executive.

TORONTO — Thomson Reuters says its profit fell in its latest quarter as revenues edged higher. The company, which keeps its books in U.S. dollars, reported a first-quarter profit of US$434 million, down from US$478 million a year ago.

McDonald’s store traffic fell unexpectedly in the first quarter as economic uncertainty weighed on diners. The burger giant’s same-store sales, or sales at locations open at least a year, fell 1% globally in the January-March period.

LAVAL — Alimentation Couche-Tard Inc. says it has signed a non-disclosure agreement with Seven & i Holdings Co. Ltd. amid its pursuit to acquire the Japanese parent company of 7-Eleven.

TORONTO — Canadian country singer Robert Adam recorded their new album in Nashville, but under the political tumult of U.S. President Donald Trump, the musician doesn’t plan to travel stateside to promote it.

Almost $22.2 million in Google payments have made their way to 108 Canadian news outlets, says the organization distributing money the tech giant agreed to give media businesses in exchange for an exemption from the Online News Act.

WASHINGTON (AP) — The U.S. and Ukraine on Wednesday signed off on a deal that will give Washington access to Ukraine's vast critical minerals and natural resources, finalizing an agreement weeks in the making to compensate the U.S.