National Business

TORONTO — Canada's main stock index gained almost 200 points Wednesday on broad-based strength led by base metals and industrials, while U.S. markets also rose, led by a 1.2 per cent gain on the Dow. The S&P/TSX composite index closed up 194.

KINGSTON, Ont. — An Ontario-based powdered milk manufacturer says it has the green light to start making baby formula. Canada Royal Milk in Kingston says the Canadian Food Inspection Agency has approved its application to produce infant formula.

NEW YORK (AP) — U.S. stocks rose to a record Wednesday after breaking out of their three-day lull. The S&P 500 climbed 44.91 points, or 0.9%, to 5,248.49. It was the first gain for the index since setting its last all-time high on Thursday.

MONTREAL — A major transport company has rerouted cargo away from the Port of Montreal over fears of a potential strike, prompting concerns that others may follow in its wake.

CALGARY — The Calgary Chamber of Commerce is warning Ottawa that its proposed cap on emissions from the oil and gas sector could compromise the valuation and sale of the Trans Mountain pipeline.

Despite housing starts in Canada's six largest citieshovering at near all-time highs last year, experts warn those levels are still not enough to address the country's housing shortage in the years to come. The Canada Mortgage and Housing Corp.

The Alcohol and Gaming Commission of Ontario says it's closely monitoring an investigation of Toronto Raptors backup centre Jontay Porter.

TORONTO — The newly-returned head of Lightspeed Commerce Inc. says the company is exploring how it can use generative artificial intelligence to help its customers.

ORLANDO, Fla. (AP) — Allies of Florida Gov. Ron DeSantis and Disney reached a settlement agreement Wednesday in a lawsuit over who controls Walt Disney World’s governing district.

TORONTO — Alamos Gold Inc. has signed a deal to acquire Argonaut Gold Inc.'s Magino mine in Canada, while the company's assets in the United States and Mexico will be spun out to its existing shareholders.