News

TORONTO — A new report says the cost of insured damage caused by severe weather last year hit a record high as it totalled more than $8 billion. According to Catastrophe Indices and Quantification Inc., the cost of insured damage totalled $8.

"Oil and gas is owned by the provinces, principally Alberta, and we won't stand for that," Alberta Premier Danielle Smith said of a potential energy embargo.

OTTAWA — The federal Liberals are running their first leadership race in more than a decade to replace the departing Justin Trudeau. Candidates must declare by Jan. 23 and pay a $350,000 fee to enter the race. The winner will be named on March 9.

VANCOUVER — A new report says the U.S. benefits at least as much from trade with Canada as Canada benefits. The report by economist Jim Stanford at the Centre for Future Work says claims by incoming U.S.

TORONTO — Canada's main stock index was down more than 150 points in late-morning trading, weighed down by losses in technology stocks, while U.S. stock markets were mixed. The S&P/TSX composite index was down 170.37 points at 24,597.36.

Five things to watch for in the Canadian business world in the coming week, including Foreign Affairs Minister Mélanie Joly's trip to Washington and a speech from Bank of Canada deputy governor Toni Gravelle.

OTTAWA — The cost to send a letter in Canada is increasing by about 25 per cent, effective today. Canada Post says the cost of stamps for domestic mail bought in a booklet, coil or pane has increased by 25 cents to $1.24 per stamp.

With less than two weeks to go until Trump returns to the White House, it's still not clear how the Republican leader will enact his tariff agenda, but the International Economic Emergency Powers Act is one possibility.

VANCOUVER — Lululemon Athletica Inc. has raised its forecast for revenue and earnings per share for its fourth quarter following a strong holiday season.

NEW YORK (AP) — Drops for Nvidia and other superstar stocks are dragging U.S. indexes lower and keeping Wall Street stuck in its weekslong rut. The S&P 500 fell 0.8% early Monday. The index is coming off its fourth losing week in the last five.