National Business

TORONTO — Technology and materials led a broad rally that drove Canada's main stock index higher as investors continued to digest the Bank of Canada's hawkish comments as they look for signs that higher interest rates are starting to slow the economy

OTTAWA — The Bank of Canada may need to raise its key interest rate to three per cent or beyond — more than double its current level — to ensure inflation doesn't settle in for the long haul, its deputy governor says.

NEW YORK (AP) — Michael Avenatti was sentenced Thursday to four years in prison for stealing book proceeds from Stormy Daniels, the porn actress who catapulted him to fame as he represented her in courtrooms and cable news programs during her legal b

NEW YORK (AP) — The stock market shook off a wobbly start and ended broadly higher Thursday, marking its first gain in this holiday-shortened week. Technology stocks were among the winners as Microsoft erased an early loss.

HALIFAX — The Nova Scotia government is ruling out a second package of short-term inflation relief just two weeks after Finance Minister Allan MacMaster said more measures were on their way.

WASHINGTON (AP) — A stronger than expected economic recovery from the pandemic has pushed back the go-broke dates for Social Security and Medicare, but officials warn that the current economic turbulence is putting additional pressures on the bedrock

WINDSOR, Ont. — Stellantis and LG Energy Solution say their joint venture to build batteries for electric vehicles in Windsor, Ont. will be called NextStar Energy and be led by Danies Lee as chief executive.

VANCOUVER — The Real Estate Board of Greater Vancouver says home sales across the region have returned to "more typical seasonal levels" and that there are modest signs continuous price increases might ease.

TORONTO — Royal Bank of Canada has become caught up in efforts by Texas to limit action by banks against gun manufacturers and fossil fuel companies as attention intensifies on the divisive issues.

A Russian cargo plane stranded at Toronto Pearson International Airport is racking up parking fees of more than $1,000 per day. The Russian-registered Antonov 124 operated by cargo carrier Volga-Dnepr has been parked at Pearson since Feb.