National Business

TORONTO — Greater Toronto Area-real estate watchers say the combination of high interest rates and an uptick in new condo units coming online has led to an oversupply that will take time to balance out.

VICTORIA — British Columbia is forecasting a record budget deficit and a rising debt of almost $129 billion less than two weeks before the start of a provincial election campaign where economic stability and future progress are expected to be major i

MONTREAL — Canadian National Railway Co. revised its earnings guidance for 2024 lower due to several factors including the recent labour stoppage that saw both Canada's major railways grind operations to a halt.

JASPER, ALTA. — Town council in Jasper, Alta., heard Tuesday it won't be possible to secure temporary housing for everyone who lost their homes in a devastating wildfire in July.

TORONTO — Losses in the energy sector weighed on Canada's main stock index as the price of oil fell Tuesday, though the index posted just a small decline while U.S. markets were mixed. The S&P/TSX composite index was down 24.06 points at 23,003.

HALIFAX — The Nova Scotia government is planning to kick-start its offshore wind industry — with or without federal approval — and launch a first call for project bids next year.

TORONTO — A Canadian court has cleared the reorganization plan of Red Lobster that will see the seafood chain exit bankruptcy.

NEW YORK (AP) — U.S. stocks drifted to a mixed close following several weeks of sharp swings. The S&P 500 rose 0.4% higher Tuesday. The Dow Jones Industrial Average slipped 0.2%, and the Nasdaq composite rose 0.8%.

CALGARY — A deal that was billed as Canada's largest-ever Indigenous equity ownership agreement has hit a snag. TC Energy Corp.

TORONTO — A new report says August rental rates fell in some of Canada's largest and priciest markets to continue a months-long trend, while prices rose in smaller markets. The report from Rentals.