National Business

TORONTO — Executive chairman Richard Baker's influence over Hudson's Bay Co. is about to get another big boost as Canada's oldest retailer closes a turbulent chapter in its nearly 350 years of existence.

BOUCHERVILLE, Que. — Lowe's Canada says it has reached an agreement to sell its Ace Canada business to the owner of TSC Stores as part of its restructuring that saw it close 34 underperforming Rona and Lowe's stores.

TORONTO — The novel coronavirus has whipsawed stock markets but investors shouldn't take Monday's sharp rebound as a signal that volatility has ended, say investment experts.

TORONTO — Bruce Linton is used to people raising an eyebrow at his business decisions. The tycoon, after all, jumped into the world of cannabis long before most when he co-founded Canopy Growth Corp.

CHARLOTTETOWN — Prince Edward Island is on track for a third consecutive year of record new home construction, but tenants are still feeling the pinch from a provincial vacancy rate that is the lowest in the country. The current vacancy rate of 1.

CANBERRA, Australia — National news agency Australian Associated Press said Tuesday it was closing after 85 years, blaming a decline in subscribers and free distribution of news content on digital platforms.

TOKYO — Asian shares rose Tuesday amid hopes that central banks will take action to shield the global economy from the effects of the coronavirus outbreak. Japan's Nikkei 225 gained 0.5% in morning trading to 21,441.82.

FRANKFURT — The head of the European Central Bank said Monday that Europe's top monetary authority is ready to take “appropriate and targeted measures” if necessary to support the economy against the headwinds from the new coronavirus.

TORONTO — Ontario has signed agreements with two Indigenous communities in a move the government says is a step forward in its plans to build road access to the Ring of Fire region.

TORONTO — Canada's main stock index had its best day in 14 months as North American stock markets rebounded strongly on expectations that central banks will cut interest rates in order to offset the economic damage caused by the spread of the novel c