National Business

EDMONTON — Longtime Alberta bureaucrat Ray Gilmour has been appointed interim leader of the Alberta Investment Management Corporation, the Crown agency set up to manage public pensions and investments at arm's-length from government.

MONTREAL — Montreal Mayor Valérie Plante said Friday a "constitutional fight" between Quebec and Canada is tying up money the city desperately needs to deal with its worsening homelessness problem as winter approaches.

WASHINGTON (AP) — A Venezuelan subsidiary of a Spanish phone company will pay more than $85 million to resolve a U.S. Justice Department investigation into a scheme to bribe Venezuelan government officials, the department said Friday.

TORONTO — Canada's main stock index moved lower Friday, weighed down by base metals and energy stocks as the price of oil fell, while U.S. markets cruised to close Wall St.'s best week this year on a wave of post-election bets.

NEW YORK (AP) — U.S. stocks cruised to more records as they closed their best week in a year on Friday. The S&P 500 rose 0.4% to cap its biggest weekly gain since early November 2023 and briefly crossed above the 6,000 level for the first time.

MONTREAL — The employers association at the Port of Montreal has issued the dockworkers' union a "final, comprehensive offer," threatening to lock out workers at 9 p.m. Sunday if a deal isn't reached.

Two years after the failed launch of a lending program, Canada Post is making another foray into banking services. The postal service confirmed Friday that it will be offering a chequing and savings account in partnership with Koho Financial Inc.

TORONTO — Even with 1.8 million followers on TikTok, Wallace Wong says he feels like he's been dealt a huge blow after the federal government directed the app to shut down its Canadian operations this week.

HALIFAX — Nova Scotia's incumbent Progressive Conservatives released their election platform Friday, announcing that if elected to govern Nov. 26, they will impose a cap on electricity rate increases.

Taxpayers are facing potential billions of dollars in losses on the sale of the Trans Mountain pipeline as the Parliamentary Budget Officer estimates its current value is less than the sum of its assets. The pipeline could be worth between $29.