National Business

The co-CEO of Cargojet Inc. says rising e-commerce demand will fuel major business gains in the second half of the year after boosting revenues last quarter.

MONTREAL — Demand for CAE Inc.'s pilot training services dropped last quarter in step with a decrease in new hires at major airlines and — counterintuitively — lower travel demand brought on by the Paris Olympics.

TORONTO — Scotiabank's 1832 Asset Management has substantially cut back its holdings in Israeli arms manufacturer Elbit Systems Ltd. as the bank has faced calls to divest over the war in Gaza.

WASHINGTON (AP) — Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September.

Corus Entertainment Inc. has filed a complaint with Canada's broadcasting regulator alleging Rogers Communications Inc. is "engaging in predatory behaviour" to suppress potential competition and breaching its regulatory requirements.

VANCOUVER — Officials with the City of Vancouver say eight people have been taken to hospital after a fire at an apartment building in the Kitsilano neighbourhood. A statement from the city says the fire began at about 2:30 a.m.

CALGARY — Tensions between Parkland Corp. and Simpson Oil, its largest shareholder, continue to escalate, with the Cayman Islands-based Simpson announcing this week it has launched a lawsuit against the fuel retailer.

TORONTO — Hydro One Ltd. reported its second-quarter profit rose compared with a year ago. The power utility says its net income attributable to common shareholders amounted to $292 million or 49 cents per diluted share for the quarter ended June 30.

Metro Inc.'s chief executive says despite increasing competition in the discount grocery space, he thinks the retailer is well positioned to continue meeting demand for lower prices while also setting its conventional banners up for success.

TORONTO — Canada Pension Plan Investment Board says it earned a net return of 1.0 per cent in its first quarter, helped by its investments in public equities and across private asset classes.