National Business

WASHINGTON (AP) — The U.S. economy shrank at a 1.6% annual pace in the first three months of the year, the government reported Wednesday in a slight downgrade from its previous estimate for January-March quarter.

BRUSSELS (AP) — The European Union’s executive branch proposed Wednesday a ban on the sale of flavored heated tobacco products, including some vaping items, as part of its plan to fight cancer.

Scotiabank's move to pause its sponsorship of Hockey Canada until the organization takes steps to "improve the culture" within the sport is the latest example of the growing trend among big corporations using their heft to advance social change, expe

NEW YORK (AP) — The Federal Trade Commission said Tuesday that it has sued Walmart for allegedly allowing its money transfer services to be used by scam artists who stole “hundreds of millions of dollars" from customers.

Some major corporations are putting their Hockey Canada sponsorships on ice. Scotiabank said Tuesday the pause will last until it's confident the right steps are taken to improve the culture within the sport

MENDON, Mo.

LAVAL, Que. — Alimentation Couche-Tard Inc. says it took a US$56.2-million pre-tax charge for the impairment of its Russian subsidiaries.

CALGARY — Imperial Oil Ltd. says it and ExxonMobil Canada have entered into an agreement to sell the Montney and Duvernay oil and gas-producing areas of central Alberta to Whitecap Resources Inc. for $1.9 billion.

TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (19,222.74, down 35.58 points.) Athabasca Oil Corp. (TSX:ATH). Energy. Up 10 cents, or four per cent, to $2.59 on 14.5 million shares.

TORONTO — Waning consumer confidence and Fed warnings about interest rate hikes pushed North American stock markets lower ahead of data Wednesday that could confirm the U.S. is in a technical recession.