National Business

NEW YORK (AP) — Wall Street closed lower, despite a blowout profit report from Nvidia, as bond yields rose ahead of a highly anticipated speech from Federal Reserve Chair Jerome Powell. The S&P 500 fell 1.

TORONTO — Hudson's Bay is reviving its outlet model with a discount store in Toronto's east end. The department store chain says it is converting an existing Hudson's Bay store at Eglinton Square in Scarborough to an outlet.

MONTREAL — For Jas Singh, the road to profit just keeps getting narrower. “It’s slow right now, not too many loads," said the owner of JK Transport, a Brampton-based trucking company Singh launched 15 years ago.

CALGARY — Crescent Point Energy Corp. has signed a deal to sell its North Dakota assets to a private operator for about $675 million in cash.

The seasonal drink that made pumpkin spice a star is turning 20. And unlike the autumn days it celebrates, there seems to be no chill in customer demand. Starbucks’ Pumpkin Spice Latte goes on sale Thursday in the U.S.

CALGARY — TC Energy Corp. has applied for regulatory approval for a potential minority interest sale of its Nova Gas Transmission Ltd. (NGTL) system, one that could include possible participation from Indigenous groups.

Subway said Thursday it will be sold to Roark Capital, a private equity firm with expertise in restaurant management that could help the sandwich chain expand and improve its stores. Terms of the deal weren’t disclosed.

TORONTO — Royal Bank of Canada is ramping up job cuts as it works to reduce costs ahead of an expected economic slowdown.

Historic flooding in Nova Scotia last month caused more than $170 million in insured damages, an initial estimate from Catastrophe Indices and Quantification Inc. shows.

TORONTO — Savannah Dasilva was searching for a budgeting method she could stick to for years to come. The Toronto student dabbled with Excel spreadsheets, but they got confusing fast, and budgeting apps, which never seemed to do the trick.