National Business

Canadian Tire Corp. Ltd. capped its centennial year with strong growth in its automotive business as demand for auto parts and service helped offset softer spending on non-essential items, the company said Thursday.

OTTAWA — As the Bank of Canada monitors the economy's response to higher interest rates, governor Tiff Macklem says it is still overheated and the labour market is too tight.

ST. JOHN'S, N.L. — After handing oil companies more than $280 million in cash during the COVID-19 pandemic, Newfoundland and Labrador's energy minister says it's tough to watch those same companies rake in record-shattering profits.

VANCOUVER — Teck Resources Ltd. is evaluating alternatives for its steelmaking coal business, including the possible spin-out of an interest in that business to its shareholders.

CALGARY — Nutrien Ltd. will slightly delay the timing of its plan to ramp up potash production, due to slumping sales.

TORONTO — A new report says that while home prices are down compared with last year, higher mortgage rates mean affordability hasn't improved for Canadians. The report by Ratehub.

WASHINGTON (AP) — Wholesale prices in the United States reaccelerated in January, indicating that inflation pressures continue to underlie the U.S. economy despite longer-term signs of improvement.

OTTAWA — Canadian couples looking to save money in retirement may turn to spousal RRSP accounts, though financial experts caution it might not work for everyone. Aba Quarshie, a financial planner at RBC in Almonte, Ont.

Fewer Americans filed for jobless benefits last week despite efforts by the Federal Reserve to loosen the labor market with higher interest rates as it tries to cool the economy. Applications for jobless aid in the U.S. for the week ending Feb.

TORONTO — RioCan Real Estate Investment Trust raised its payment to unitholders as it reported a loss of $5 million in its fourth quarter. The real estate trust says it will now pay a monthly distribution of nine cents per unit, up from 8.5 cents.