National Business

MONTREAL — As cottage season dawns, the prospect of joint ownership with family or friends grows anew for many Canadians, budding perennially like a lakeside plant.

WASHINGTON (AP) — With one of three major rating agencies warning that America’s AAA credit is at risk, the stakes are growing in the standoff in Washington over raising the nation's debt limit.

ALBUQUERQUE, N.M (AP) — Virgin Galactic completed what's expected to be its final test flight Thursday before taking paying customers on brief trips to space.

U.S. applications for jobless claims rose slightly last week but remain at healthy levels with companies reticent to let go of employees in a tight labor market.

OTTAWA — Canada Mortgage and Housing Corp. says the country's total residential mortgage debt was $2.08 trillion as of January this year, up six per cent from January 2022.

WASHINGTON (AP) — The Supreme Court on Thursday made it harder for the federal government to police water pollution in a decision that strips protections from wetlands that are isolated from larger bodies of water.

TORONTO — A new survey shows more than one in 10 Canadians own an investment property — and their ranks are expected to grow over the next five years.

WASHINGTON (AP) — The U.S. economy grew at a lackluster 1.3% annual rate from January through March as businesses wary of an economic slowdown trimmed their inventories, the government said Thursday in a slight upgrade from its initial estimate.

TORONTO — Royal Bank of Canada raised its dividend as it reported its second-quarter profit fell compared with a year ago and the amount of money it set aside for bad loans rose. The bank says it will now pay a quarterly dividend of $1.

TORONTO — CIBC raised its quarterly dividend as it reported a second-quarter profit of $1.69 billion. The bank said Thursday it will now pay a quarterly dividend of 87 cents per share, up from 85 cents.