National Business

For a country with such a severe shortage of housing, the way Canada builds homes hasn't changed that much since the country was founded.

HALIFAX — Toronto-based Postmedia Network Inc. has offered to purchase Atlantic Canada’s largest newspaper chain for $1 million, according to a newly released monitor’s report. The offer is being recommended by KSV Restructuring Inc.

Shockwaves on Wall Street unleashed by jobs data out of the U.S. sent strong tremors north of the border Friday, as Canada’s main stock index shook over fears of a weakening U.S. economy and tech sector. The S&P/TSX composite index plunged 495.

Telus Corp. posted an increase in net new customers in its second quarter, but fierce competition among cell service providers took a toll on its average revenue per user.

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.