National Business

OTTAWA — Statistics Canada says wholesale sales rose 0.5 per cent month over month in November to $83.8 billion.

WASHINGTON (AP) — The number of people seeking unemployment benefits in the U.S.

SAN FRANCISCO (AP) — Elon Musk was depicted Wednesday as either a liar who callously jeopardized the savings of “regular people" or a well-intentioned visionary as attorneys delivered opening statements at a trial focused on a Tesla buyout that never

TORONTO — Postmedia is moving a dozen of its Alberta community newspapers to digital-only formats, eyeing more outsourcing deals for printing, laying off workers and selling the home of the Calgary Herald.

TORONTO — TD Bank Group says its head of Canadian business banking Paul Douglas is stepping back from daily operations into the newly created position of chair of the division.

Microsoft is cutting 10,000 workers, almost 5% of its workforce, joining other tech companies that have scaled back their pandemic-era expansions.

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (20,376.23, down 81.23): Enbridge Inc. (TSX:ENB). Energy. Down 21 cents, or 0.38 per cent, to $55.62 on 10.3 million shares.

TORONTO — Canada's main stock index edged downward Wednesday as the price of oil receded off a strong morning, while U.S. markets slid by a wider margin. The S&P/TSX composite index was down 81.23 points at 20,376.23.

VANCOUVER — Social media technology company Hootsuite Inc. is laying off seven per cent of its staff in its third job cut in the last year and replacing its chief executive.

NEW YORK — Wall Street had its biggest pullback of the year as a January market rally sputtered. Technology stocks led the way lower, including a 1.9% drop in Microsoft after the tech titan joined others in its industry in announcing layoffs.