National Business

OTTAWA — The parliamentary budget officer says the federal government's GST holiday could cost as much as $2.7 billion, if provinces don't waive their entitlement to compensation.

The Bank of Canada reduced its key interest rate by half a percentage point in October in response to inflation returning to target, but signalled the size of the next rate decision would be data-dependent.

NEW YORK (AP) — U.S. stocks are drifting around their records ahead of a week that could cement expectations for a coming cut to interest rates by the Federal Reserve. The S&P 500 slipped 0.

MONTREAL — The chief executive of Air Canada has been elected as the new chairperson of the Star Alliance chief executive board. Michael Rousseau succeeds United Airlines chief executive Scott Kirby, who has held the title since December 2020.

VANCOUVER — Lundin Mining Corp. has signed a deal to sell a pair of mines in Europe to Boliden AB in an agreement valued at up to US$1.52 billion.

Omnicom is buying Interpublic Group in a stock-for-stock deal that will create an advertising powerhouse with combined annual revenue of almost $26 billion. Shareholders of The Interpublic Group of Companies Inc. will receive 0.

MILAN (AP) — A fuel depot exploded in the central Italian region of Tuscan on Monday, killing at least two people and injuring nine, authorities said.

TORONTO — It's lunch time at the Eaton Centre mall in downtown Toronto and every corner of the food court is hungry for customers. Bourbon St.

TORONTO — Inside Ontario's legislature, the halls are decked, the sounds of children’s choirs singing Christmas carols waft down the corridors, and in the air there’s a feeling of an election.

The Canada Post strike involving more than 55,000 workers has hit 25 days. In a statement Sunday, Canada Post says it is awaiting a formal response from the Canadian Union of Postal Workers to the proposal it submitted to the union Friday.