National Business

TORONTO — The long wait for shorter wait times on resolving bank complaints is almost over as part of a raft of updates to banking regulations set to come into force.

TORONTO — Five things to watch for in the Canadian business world in the coming week: Household debt: Statistics Canada will release its household debt data for the first quarter on Monday.

COLOMBO, Sri Lanka (AP) — Sri Lanka may be compelled to buy more oil from Russia as the island nation hunts desperately for fuel amid an unprecedented economic crisis , the newly appointed prime minister said.

VANCOUVER — Loretta Rogers, the matriarch of the Rogers family and long-time director at telecom giant Rogers Communications Inc., has died at the age of 83.

TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange: Toronto Stock Exchange (20,274.82, down 289.07 points.) Cenovus Energy Inc. (TSX:CVE). Energy. Down 61 cents, or two per cent, to $30.09 on 12.5 million shares.

WASHINGTON (AP) — The prices of gas, food and most other goods and services jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs. Consumer prices surged 8.

TORONTO — Higher-than-expected U.S. inflation prompted a selloff across North American stock markets as investors fear the Federal Reserve will hike interest rates even more aggressively and push the economy into recession.

CALGARY — A group representing Canadian ranchers says their industry has been unfairly singled out by proposed new regulations that would require packaged ground beef to be sold with a health warning label.

NEW YORK (AP) — Wall Street’s shuddering realization that inflation got worse last month, not better as hoped, sent markets reeling on Friday. The S&P 500 sank 2.

"Pearson airport is hell on earth." So declared Ryan Whitney, a former NHLer, in a social media post from Toronto’s main airport this week.