National Business

Stocks closed higher on Wall Street at the start of a holiday-shortened week. The S&P 500 rose 0.7% Monday. Several big technology companies helped support the gains, including chip companies Nvidia and Broadcom.

Picture this. You're having coffee with your favourite aunt when she casually mentions she'd like to appoint you as her power of attorney. You're caught off guard, but you love your aunt.

OTTAWA — The Bank of Canada's governing council expects its second straight outsized interest rate cut helped it turn a corner in its fight to tame inflation, but it is watching the economy closely amid weaker than expected growth.

GATINEAU, Que. — The Competition Bureau released draft guidelines on Monday that aim to clarify expectations around new greenwashing rules.

VANCOUVER — A derailment has sent rail cars carrying grain plunging into the Fraser River, and CN Rail says it's working to restore the tracks near Boston Bar, B.C.

Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal with the industry being squeezed by discount chains and other competition.

OTTAWA — The federal government has named Alison Nankivell the new president and chief executive officer of Export Development Canada, succeeding Mairead Lavery who helmed the Crown corporation for the past six years.

TOKYO (AP) — Japanese automakers Honda and Nissan have announced plans to work toward a merger that would form the world’s third-largest automaker by sales, as the industry undergoes dramatic changes in its transition away from fossil fuels.

WINNIPEG — The Manitoba government is ending its yearlong fuel tax holiday but bringing back the levy at a lower rate.

CALGARY — Oil and gas producer Vermilion Energy Inc. says it is acquiring privately held Westbrick Energy Ltd. for $1.075 billion.