National Business

VANCOUVER — West Fraser Timber Co. says it earned US$105 million in the second quarter, up from a loss of US$131 million a year earlier. The Vancouver-based company says it saw sales of US$1.7 billion, up from US$1.

ESK'ET, BRITISH COLUMBIA — The federal government has reached a $147-million settlement with a First Nation in British Columbia over a dispute about water rights that dates back to the late 1800s.

Canadian financial institutions say they are lowering their prime lending rates to match the decrease announced by the Bank of Canada. The central bank lowered its key interest rate by a quarter percentage point Wednesday to 4.5 per cent.

NEW YORK (AP) — CrowdStrike is blaming a bug in an update that allowed its cybersecurity systems to push bad data out to millions of customer computers, setting off last week's global tech outage that grounded flights, took TV broadcasts off air and

NEW YORK (AP) — A wipeout on Wall Street sent U.S. stock indexes to their worst day since 2022 as Big Tech dragged the market lower following profit reports from Tesla and Alphabet. The S&P 500 slumped 2.

TORONTO — Ontario will provide up to $73 million to help speed up repairs on a busy Toronto highway, so long as work on the Gardiner Expressway can be done around the clock.

The Office of the Privacy Commissioner of Canada has opened an investigation into allegations that some Loblaw customers have been unable to delete their PC Optimum accounts.

OTTAWA — The Bank of Canada appeared to be increasingly concerned about the risk of high interest rates slowing the economy and inflation by more than necessary as it delivered a second consecutive rate cut Wednesday.

GATINEAU, Que. — The federal Competition Bureau says it has launched an investigation into retail gasoline consultancy Kalibrate to see whether the services it offers are negatively affecting competition between gas stations in Canada.

With the sale of its coal business now firmly in the rear-view mirror, Canadian miner Teck Resources Ltd. marked its transition to a pure-play metals company by achieving record copper production in its second quarter.