National Business

SUNNYVALE, Calif. (AP) — LinkedIn said Monday it is laying off hundreds of employees amounting to about 3% of the social media company's workforce.

TORONTO — The Insurance Bureau of Canada says severe storms and flash floods in Ontario this summer caused more than $340 million in insured losses, according to initial estimates. The estimate from Catastrophe Indices and Quantification Inc.

Two key indicators of the economy climbed in August as Statistics Canada reported manufacturing sales rose 0.7 per cent to $72.

VANCOUVER — A&W Food Services of Canada Inc. says it's launching an exchangeable and reusable cup program across the country in a bid to reduce waste.

NEW YORK (AP) — U.S. stocks are opening higher as some of last week’s moves driven by worries about war in the Middle East unwind. The S&P 500 was 0.4% higher early Monday. The Dow rose 220, and the Nasdaq composite rose 0.4%.

TORONTO — As more and more homeowners face mortgage renewals at surprisingly higher interest rates, some are facing the dreaded prospect of having to sell a home they can no longer afford.

WASHINGTON (AP) — President Joe Biden postponed a trip to Colorado on Monday to stay in Washington and focus on the growing conflict in the Middle East , setting aside an opportunity to pitch his economic accomplishments as he runs for reelection .

MONTREAL — A private equity firm has signed an agreement to buy Logistec Corp. in an acquisition that values the Quebec-based company at about $1.2 billion.

QUITO, Ecuador (AP) — Daniel Noboa, an inexperienced politician and an heir to a fortune built on the banana trade, won Ecuador’s presidential runoff election Sunday held amid unprecedented violence that even claimed the life of a candidate.

TORONTO — Sean Kady spent most of his 20s toting around a teal tackle box that once belonged to his roommate's grandfather. Occasionally, people would spot the box and ask to borrow a wrench, but it didn't contain tools or bait.