National Business

OTTAWA — The federal government posted a budgetary surplus of $3.62 billion for the first three months of its 2023-24 fiscal year, compared with a surplus of $10.20 billion in the same period a year earlier.

TORONTO — Canadian insurers are grappling with the higher risk of wildfires as this year's fire season breaks records, and experts say rising premiums are just one way the industry is seeking to adapt to the changing landscape.

JACKSON HOLE, Wyoming (AP) — The continued resilience of the U.S.

WASHINGTON — Canada is siding with the United States in a burgeoning trade dispute over Mexico's restrictions on products made with genetically modified corn.

TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (19,775.83, down 103.96 points): Manulife Financial Corp. (TSX:MFC). Finance. Up 20 cents, or 0.83 per cent, to $24.33 on 10.

TORONTO — TD Bank Group revealed Thursday that it expects U.S. regulators to impose penalties related to its anti-money laundering compliance program.

TORONTO — Canada's main stock index declined by more than 100 points Thursday amid broad-based weakness, while U.S. markets also moved lower, with the Nasdaq leading losses at 1.87 per cent. The S&P/TSX composite index closed down 103.

TORONTO — The timeless designs of Silk Laundry and streetwear by Indigenous-owned brand Section 35 are among the nominees for the Canadian Arts & Fashion Awards this year.

NEW YORK (AP) — Wall Street closed lower, despite a blowout profit report from Nvidia, as bond yields rose ahead of a highly anticipated speech from Federal Reserve Chair Jerome Powell. The S&P 500 fell 1.

TORONTO — Hudson's Bay is reviving its outlet model with a discount store in Toronto's east end. The department store chain says it is converting an existing Hudson's Bay store at Eglinton Square in Scarborough to an outlet.