National Business

Exxon Mobil is buying Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, its largest buyout since acquiring Mobil two decades ago, creating a colossal fracking operator in West Texas.

OTTAWA — Statistics Canada says the total monthly value of building permits in Canada rose 3.4 per cent in August to $11.9 billion, as gains in the non-residential sector offset modest declines in residential construction plans.

WASHINGTON (AP) — U.S. wholesale prices rose last month at the fastest pace since April, suggesting that inflationary pressures remain despite a year and a half of higher interest rates.

MONTREAL — Velan Inc. says Bruno Carbonaro has resigned as chief executive and a director of the company. The maker of industrial valves says board chair James Mannebach has been named interim CEO.

MONTREAL — MTY Food Group Inc. reported its third-quarter profit rose compared with a year ago as its revenue gained 74 per cent. The restaurant company says its net income attributable to owners totalled $38.9 million or $1.

TORONTO — The Canadian Federation of Independent Grocers is calling on the Crown corporation that manages dairy supply and pricing to hit pause on any further increases to milk prices amid political pressure to keep food prices down.

TORONTO — A group of leaders in the agriculture and food industries is launching a national alliance to work toward achieving net zero in Canada's agri-food sector by 2050.

TORONTO — BMO Capital Markets' chief executive and group head Dan Barclay is set to retire after a 32-year investment banking career as of Nov. 1.

TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (19,501.20, up 255.13 points): Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up $4.58, or 5.46 per cent, to $88.54 on 11.

MONTREAL — The federal government has announced an investment of up to $150 million toward a container terminal in Contrecoeur, Que., which is about 70 kilometres northeast of Montreal.