National Business

BRUSSELS (AP) — The European Union moved Wednesday to hike tariffs on Chinese electric vehicles , escalating a trade dispute over Beijing's subsidies for the exports that Brussels worries is hurting domestic automakers .

NEW YORK (AP) — Joey “Jaws” Chestnut, the reigning champion of the Nathan’s Famous Fourth of July hot dog eating contest, will not participate in this year's event after signing a deal with a rival brand, organizers said Tuesday.

CALGARY — An energy company says a First Nations blockade and standoff that kept it from using an oil lease road has been resolved. Calgary-based Obsidian Energy says it has reached an agreement in principle with the Woodland Cree First Nation.

MONTREAL — Canada's banking sector is facing further consolidation as National Bank of Canada has reached an all-share deal to acquire Canadian Western Bank that values the lender at about $5 billion.

The Competition Bureau has obtained two court orders requiring the parent companies of Loblaws and Sobeys to hand over information related to its investigation into alleged anticompetitive conduct.

A plastics plant in Sarnia, Ont., that has been subject to recent orders and regulations from both the provincial and federal governments over benzene emissions is permanently shutting down.

WHITEHORSE — Bell Canada says it is selling Northwestel Inc. to Sixty North Unity, a consortium of Indigenous communities from the Northwest Territories, Yukon and Nunavut, for around $1 billion.

TORONTO — More needs to be done to maintain North American relations in an increasingly competitive and volatile world, and as a U.S. election approaches, attendees at a conference in Toronto heard on Tuesday.

TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (21,887.34, down 182.42 points): Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up 12 cents, or 0.24 per cent, to $48.92 on 17.

VANCOUVER — Copperleaf Technologies Inc. has signed a deal to be acquired by IFS AB in an agreement valued at about $1 billion.