National Business

MONTREAL — CAE Inc. reined in its earnings forecast for the year after reporting a 96 per cent year-over-year profit decrease last quarter due to supply chain problems and writedowns on a pair of pricey defence projects.

HALIFAX — Nova Scotia’s Environment Department has approved an application from the owners of the Touquoy gold mine to raise the height of the wall of its existing tailings waste pond.

CALGARY — Trans Mountain Corp. says Dawn Farrell will become its new president and chief executive next week. The pipeline operator says Farrell has more than 35 years of experience in the energy business, where she has held senior level positions.

TORONTO — Unifor says Lana Payne has been elected as the new president of Canada's largest private sector union, the first woman to hold the position.

Workers at Metro Inc. are putting in overtime to keep stores open as the company grapples with an ongoing labour crunch, the Montreal-based grocery and drugstore retailer said Wednesday.

VANCOUVER — West Fraser Timber Co. Ltd. says it is cutting a shift at three B.C. mills for a loss of 147 jobs as it reduces production in part because of lack of timber supplies.

TORONTO — Centerra Gold Inc. reported a net loss of US$2.6 millionin its latest quarter, compared to a net loss of US$851.7 million in the same quarter last year. The Toronto-based company, which keeps its books in U.S.

With inflation at a nearly 40-year high, Canadians are feeling the financial strain. In a six-part series this summer, The Canadian Press is speaking to people at different stages of life to see where they’re being hit the hardest.

TOKYO (AP) — Issey Miyake, who built one of Japan’s biggest fashion brands and was known for his boldly sculpted pleated pieces as well as former Apple CEO Steve Jobs’ black turtlenecks, has died. He was 84.

TORONTO — Pot shop owners say they're worried they will lose customers and run out of product if a halt on Ontario Cannabis Store deliveries stretches on.