National Business

FREDERICTON — The premier of Prince Edward Island is asking the federal government for an update on the timeline to reduce the tolls for the Confederation Bridge and Northumberland Ferries to improve interprovincial trade to and from the mainland.

OTTAWA — The federal government moved on Tuesday to purge consumer carbon pricing from law, effectively putting an end to what was once the keystone of the Liberals' climate policy.

TORONTO — Strength in the utility, financial and technology sectors helped Canada's main stock index gain almost 200 points on Tuesday, while U.S. stock markets also climbed. The S&P/TSX composite index was up 195.87 points at 26,269.00.

TORONTO — The Hudson's Bay trademarks Canadian Tire hopes to acquire span well beyond the retailer's name, coat of arms and iconic stripes, new court documents show.

VANCOUVER — Telus Corp. has announced it will spend more than $70 billion over the next five years to enhance connectivity, including through improvements to its network infrastructure and by building artificial intelligence data centres.

HANTSPORT — A First Nation in Nova Scotia has established a new commercial security company, a move its chief says is another example of the First Nation’s commitment to securing financial independence.

TORONTO — Cautious borrowers and a worsening economic outlook pushed Scotiabank earnings slightly down in the second quarter from last year as the bank put aside more money for potentially bad loans ahead. The bank reported a net income of $2.

TORONTO — More than 8,300 workers will have lost their job and some benefits by the time Hudson's Bay closes all of its stores at the start of June, new court documents filed by the collapsing retailer say.

OTTAWA — InterRent Real Estate Investment Trust has signed a deal to be acquired by a group including executive chair Mike McGahan and Singapore sovereign wealth fund GIC for about $2 billion.

President Donald Trump's media company said Tuesday that institutional investors will buy $2.5 billion in the company's stock with the proceeds going to build up a bitcoin reserve. About 50 institutional investors will put up $1.