National Business

HALIFAX — Nova Scotia Fisheries Minister Kent Smith is downplaying the potential short-term effects of a 25 per cent tariff on Canadian seafood products that is scheduled to be imposed by China on Thursday.

TORONTO — Broad-based strength lifted Canada's main stock index 1.5 per cent Wednesday, while U.S. stocks also rallied after the U.S. Federal Reserve left its outlook for interest rate cuts this year intact.

TORONTO — When the pre-lunch rush hit Wednesday at the flagship Hudson’s Bay store in Toronto, Brian Bursten was considering himself one of the lucky ones.

NEW YORK (AP) — U.S. stock indexes rose after the Federal Reserve kept its main interest rate steady, as was widely expected. The S&P 500 climbed 1.1% Wednesday. The Dow Jones Industrial Average added 0.9%, and the Nasdaq composite rose 1.4%.

The chief executive of Alimentation Couche-Tard Inc. said the company remains committed to acquiring the Japanese operator of the 7-Eleven chain despite recent pushback.

RICHMOND, B.C. — The federal government is providing about $20 million in funding to support British Columbia's forestry sector, part of Ottawa's effort to bolster the economy amid the Canada-U. S. trade war.

Ontario Premier Doug Ford has named his new cabinet after his Progressive Conservatives won a third consecutive majority government.

WASHINGTON (AP) — The Federal Reserve kept its benchmark interest rate unchanged Wednesday and signaled that it still expects to cut rates twice this year, though more policymakers forecast fewer cuts.

EDMONTON — Alberta Premier Danielle Smith says plans for cleaning up abandoned or inactive oil wells are to be made public in two weeks.

LONDON (AP) — The European Union on Wednesday outlined the steps that Apple must take to open up its iPhone and iPad operating systems to work better with competing technologies.