National Business

MONTREAL — Air Canada chief executive Calin Rovinescu will retire next year after leading the company for more than a decade, with the airline's longtime No. 2 set to inherit the role as the industry faces a once-in-a-generation crisis.

BERLIN — Europe's aviation regulator is closing in on a decision to allow the Boeing 737 Max to return to the air after it was grounded worldwide following two deadly crashes, according to a report Friday.

NEW YORK — Retail sales rose strongly in September, the fifth straight month of growth, as Americans spent more on clothing, cars and sporting goods. U.S. retail sales jumped 1.9% last month, the U.S. Commerce Department said Friday.

TORONTO — Five things to watch for in the Canadian business world in the coming week: Wholesale trade Statistics Canada will release wholesale trade numbers for August on Monday.

HALIFAX — The Nova Scotia government is offering $50 million in loan guarantees for the province's larger tourism operators struggling to deal with the COVID-19 pandemic.

WASHINGTON — U.S. industrial production fell 0.

CALGARY — AltaGas Ltd. says it has agreed to pay $715 million in cash to privately held SAM Holdings Ltd. to double its ownership share in oil and gas liquids handling firm Petrogas Energy Corp. to 74 per cent.

NEW YORK — Sen. Josh Hawley is working on a book about one of the Missouri Republican's ongoing targets. Simon & Schuster announced Friday that Hawley's “The Tyranny of Big Tech” will be released June 21.

OTTAWA — Canadian manufacturing sales fell 2.0 per cent to $52.4 billion in August, weighed down by a drop in the transportation sector, Statistics Canada said Friday.

TORONTO — Canadian Pacific Railway Ltd. will acquire full ownership of a cross-border railway tunnel under the Detroit River through a US$312-million deal with OMERS Infrastructure. CP Rail currently owns 16.