National Business

NEW YORK (AP) — French cement company Lafarge pleaded guilty Tuesday to paying millions of dollars to the Islamic State group so that a plant in Syria could remain open, a case that the Justice Department described as the first of its kind.

OTTAWA — A new economic outlook by the Conference Board of Canada says a recession is possible, but the underlying conditions are working in the economy's favour.

Holiday spending in Canada is expected to drop this year as inflation shrinks consumer buying power and economic uncertainty looms over household budgets, a new report says.

TORONTO — Former federal finance minister Bill Morneau will join CIBC's board of directors next month. The bank says Morneau will become a member of the board effective Nov. 1.

BERLIN (AP) — The head of Germany's national cybersecurity agency has been dismissed following reports of possible ties to Russian intelligence, the Interior Ministry said Tuesday.

OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts in September rose to the highest level since November 2021.

TORONTO — Iamgold Corp. has signed a deal to sell its 95 per cent interest in Rosebel Gold Mines N.V. to Chinese company Zijin Mining Group Co. Ltd. for US$360 million in cash.

MOSCOW (AP) — A Russian warplane crashed Monday into a residential area in a Russian city on the Sea of Azov after suffering engine failure, leaving at least 13 people dead, three of whom died when they jumped from upper floors of a nine-story apartm

BANGKOK (AP) — Stocks were mostly higher in Asia on Tuesday after Wall Street rallied in its latest about-face in recent topsy-turvy trading. Oil prices and U.S. futures advanced and the dollar was trading near 149 Japanese yen.

SEOUL, South Korea (AP) — The members of K-pop band BTS will serve their mandatory military duties under South Korean law, their management company said Monday, effectively ending a debate on whether they should be granted exemptions