National Business

TORONTO — CIBC raised its quarterly dividend as it reported a second-quarter profit of $1.69 billion. The bank said Thursday it will now pay a quarterly dividend of 87 cents per share, up from 85 cents.

CAIRO (AP) — A Hong Kong-flagged ship briefly ran aground Thursday in Egypt's vital Suez Canal, though authorities said they were able to refloat it after it momentarily disrupted the waterway.

CARSON CITY, Nev. (AP) — Republican Nevada Gov.

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (19,927.69, down 218.32): Manulife Financial Corp. (TSX:MFC). Finance. Down 57 cents, or 2.23 per cent, to $25.02 on 12.

TORONTO — Canada's main stock index was down more than 200 points Wednesday, with financials, metals and industrials leading the decline, while U.S. stock markets also retreated as debates over the country's debt ceiling remained unresolved.

TORONTO — Weakening economic conditions weighed on Canadian banks as they began to report second quarter results Wednesday.

WASHINGTON (AP) — Federal Reserve officials were divided earlier this month on whether to pause their interest rate hikes at their upcoming meeting in June, according to the minutes of their May 2-3 meeting released Wednesday.

NEW YORK (AP) — Target is removing some items from its stores and making other changes to its LGBTQ+ merchandise nationwide ahead of Pride month after intense backlash from some customers who confronted workers and tipped over displays.

TORONTO — The Canada Pension Plan Investment Board is bracing for headwinds in the event of a recession but said a wide range of investments makes it well-positioned for uncertain economic conditions.

MONTREAL — Cirque de Soleil Entertainment Group is joining forces with metaverse game developer Gamefam to create an online gaming experience on Roblox.