National Business

TORONTO — Interest rates are dropping, but many Canadians are still feeling the hangover of the highest lending costs in a generation.

TORONTO — A new housing project for those who live on the streets and frequently end up in the emergency room is set to welcome its first residents in Toronto this month, supported by one of the largest hospital networks in Canada.

The number of Americans applying for unemployment benefits rose modestly last week but remains at healthy levels. The Labor Department reported Thursday that applications for jobless claims rose by 6,000 to 225,000 for the week of Sept. 28.

The number of Americans applying for unemployment benefits rose modestly last week but remains at healthy levels. The Labor Department reported Thursday that applications for jobless claims rose by 6,000 to 225,000 for the week of Sept. 28.

Over the past few years, consumers have been buying more private-label products at the grocery store to save money — and the trend may be here to stay.

KUALA LUMPUR, Malaysia (AP) — A former Singaporean cabinet minister was sentenced Thursday to a year in prison after he pleaded guilty to charges of receiving illegal gifts, in a rare criminal case involving a minister in the Asian financial hub.

KUALA LUMPUR, Malaysia (AP) — A former Singaporean cabinet minister was sentenced Thursday to a year in prison after he pleaded guilty to charges of receiving illegal gifts, in a rare criminal case involving a minister in the Asian financial hub.

TORONTO — The recent decision by Canada's banking regulator to relax a mortgage stress test rule was shaped in part by concerns about public perception of the agency, said Office of the Superintendent of Financial Institutions head Peter Routledge.

MONTREAL — Transat A.T. Inc. is preparing to lay off up to 80 workers as the tour operator struggles to turn its finances around, according to a preliminary notice sent to the Quebec government.

TORONTO — Canada's main stock index retreated from its all-time high on Wednesday, weighed down by telecom, industrial and utilities stocks, while U.S. markets drifted higher.