National Business

CALGARY — Canada's oil and gas industry is warning that Ottawa's emissions cap framework could result in significant production curtailments by companies and higher energy prices for consumers.

MONTREAL — A draft report from a United Nations agency gives Canada a C grade on flight safety and oversight, down from an A+ and far below most of its peers.

OTTAWA — The recent surge in newcomers is adding to inflation through housing demand, a senior Bank of Canada official said Thursday, warning rents and home prices could continue to rise without boosting housing supply. In a speech in Windsor, Ont.

SACRAMENTO, Calif. (AP) — California is facing a record $68 billion budget deficit, state officials announced Thursday, a consequence of a cooling economy and delayed tax filings because of last winter's damaging storms.

TORONTO — A new survey suggests a little more than half of potential first-time homebuyers are interested in using a first home savings account, even though they don't know much about it.

TORONTO — Canada's main stock index was down in late-morning trading, as losses in the base metal stocks weighed on the Toronto market, while U.S. stock markets were mixed. The S&P/TSX composite index was down 11.08 points at 20,263.13.

The federal and Quebec agriculture and food ministers are calling on all members of the grocery industry supply chain to sign onto a code of conduct.

OTTAWA — A holiday spending plan is always a good idea, but as inflation pushes the cost of everything up and higher interest rates squeeze households, a budget is more important than ever.

NEW YORK (AP) — Wall Street is opening higher following its first three-day losing streak since Halloween. The S&P 500 was up 0.5% early Thursday and continuing to hang near its highest level since March 2022.

U.S. applications for jobless benefits ticked up last week, but the overall number of people in the U.S. collecting unemployment benefits fell after hitting its highest level in two years last week.