National Business

NEW YORK (AP) — Stocks fell in morning trading on Wall Street Thursday, deepening a slump for major indexes as persistently high inflation continues to weigh on the economy.

TORONTO — Aretha Greatrix had to do a double take last month, when she got a text message and email thanking her for renewing her subscription to OutTV.

Sales of previously occupied U.S. homes slowed for the third consecutive month in April as mortgage rates surged, driving up borrowing costs for would-be buyers as home prices soared to new highs. Existing home sales fell 2.

McDonald’s has begun the sale of its restaurants in Russia 30 years after the burger chain became a powerful symbol of easing of Cold War tensions between the United States and Soviet Union.

LONGUEUIL, Que. — Héroux-Devtek Inc. reported net income of $11.5 million for its fourth quarter, up from a profit of $8.8 million in the same quarter last year.

WASHINGTON (AP) — More Americans applied for jobless aid last week, but the total number of Americans collecting unemployment benefits is at a 53-year low.

TORONTO — Canada Pension Plan Investment Board says its fund, which includes the combination of the base CPP and additional CPP accounts, earned a net return of 6.8 per cent for its latest fiscal year.

JAKARTA, Indonesia (AP) — Indonesia said Thursday it will lift a monthlong ban on palm oil export, citing improvements in the supply and domestic price of bulk cooking oil. President Joko Widodo said exports will resume on Monday.

CAMBRIDGE, ONT. — ATS Automation Tooling Systems Inc. reported a quarterly profit of $39.9 million, up from $23.8 million a year earlier, as its revenue rose 50 per cent.

TOKYO (AP) — Shares dropped sharply in Asia on Thursday after a broad retreat on Wall Street triggered by dismal results from major retailer Target that renewed worries over the impact of high inflation.