National Business

WASHINGTON (AP) — The U.S. economy suffered an unexpected setback in July as hiring fell sharply and the unemployment rate rose for the fourth straight month with raised interest rates taking a toll on businesses and households.

NEW YORK (AP) — Stocks tumbled Friday on worries the U.S. economy could be cracking under the weight of high interest rates meant to whip inflation . The S&P 500 sank 1.8% for its first back-to-back losses of at least 1% since April.

CALGARY — A pair of law firms say an Alberta court has certified a class action alleging Uber Technologies Inc. has so much control over drivers and couriers in the province that it constitutes employment.

CALGARY — Imperial Oil Ltd. provided an update on what will be Canada's largest renewable diesel facility, saying construction of the complex near Edmonton is going well and should be completed sometime next spring.

CALGARY — Enbridge Inc. has raised its earnings forecast for the year in light of the successful completion of two previously announced purchases of U.S. gas utilities.

TORONTO — DesRosiers Automotive Consultants says July sales bounced back after a flat performance a month earlier when dealerships were dealing with a major software outage.

VANCOUVER — Greater Vancouver Realtors says last month's home sales in the region dropped five per cent from a year ago, even as the number of new listings jumped 20 per cent.

EDMONTON — Alberta's seven-month moratorium on renewable power approvals has left a legacy of dozens of cancelled projects and legal uncertainty, says an analysis done on the one-year anniversary of the move.

AURORA, ONTARIO — Magna International Inc. says its second-quarter profit tumbled from a year ago to US$328 million. The Aurora, Ont.-based auto parts manufacturer, which keeps its books in U.S.

NEW YORK (AP) — Just a day after rallying on hopes that the Federal Reserve is about to cut interest rates , U.S.