National Business

Canada's two major railways shipped record amounts of grain over the past crop year despite a gauntlet of obstacles. Canadian National Railway Co.

WASHINGTON — The Treasury Department will ramp up the size of the bonds and other securities it auctions across-the-board in the face of the unprecedented borrowing needs of the the U.S. government as cases of COVID-19 surge in parts of the country.

WASHINGTON — The U.S. trade deficit fell in June for the first time since February as exports posted a record increase, rising twice as fast as imports.

TORONTO — Norbord Inc. beat expectations as it swung to an US$18-million profit in the second quarter despite a six-per-cent drop in revenues. The Toronto-based forest products company, which reports in U.S.

LAVAL, Que. — Bausch Health Companies Inc. says it is ending significant legal matters from the Valeant era by agreeing to pay $94 million plus administration costs to resolve a Canadian securities class action.

TORONTO — Thomson Reuters says its core earnings increased to US$221 million in the second quarter despite a small decrease in overall revenues. The Toronto-based company, which reports in U.S.

DETROIT — Jim Farley will lead Ford Motor Co. into the future as the global auto industry faces a new era of autonomous and electric vehicles. The company named Farley, 58, as its new CEO effective Oct.

WINNIPEG — Great-West Lifeco Inc. says it is selling its Canadian subsidiary GLC Asset Management Group Ltd. to Mackenzie Financial Corp. for $175 million in cash.

MONTREAL — Stingray Group Inc. says revenue in its fiscal first quarter ended June 30 fell by 35 per cent to $52.3 million as the impact of the COVID-19 pandemic hit revenue from radio operations. It is reporting net income of $7.02 million, down 23.

TORONTO — Auto sales continued their upward trend in July, mounting a steadier recovery from the early months of the COVID-19 pandemic, DesRosiers Automotive Consultants Inc. reported Tuesday. In a 6.