National Business

HONOLULU (AP) — A slow-moving storm that knocked out power, swamped dozens of homes and sent creeks and streams surging had mostly passed over Hawaii on Tuesday, though the threat of flooding lingered in some already-drenched areas.

TORONTO — CIBC has agreed to pay $125 million to settle a class-action lawsuit that had accused the bank of misrepresenting its exposure to U.S. residential mortgage-backed securities ahead of the financial crisis.

MONTREAL — Katie Summers cancelled her wedding anniversary trip three times over the past 18 months. Now, the Omicron variant of COVID-19 means her January vacation to Hawaii with her husband may be added to the scrap heap.

TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (21,162.65, up 301.55 points.) Suncor Energy Inc. (TSX:SU). Energy. Up 60 cents, or 1.9 per cent, to $31.70 on 15.6 million shares.

TORONTO — Canada's main stock index has its strongest two-day performance in more than 10 months on easing fears about the latest COVID-19 variant that helped push the price of oil above US$70 a barrel. The S&P/TSX composite index closed up 301.

CALGARY — The global energy transition could create 170,000 jobs in Alberta and contribute $61 billion to the province's GDP by 2050, according to a new study released Tuesday by provincial economic development groups.

HALIFAX — The environmental assessment process is officially underway for Northern Pulp's estimated $350-million plan to reopen its idled kraft pulp mill in Nova Scotia's Pictou County.

MONTREAL — The Quebec Professional Association of Real Estate Brokers says November home sales and new listings fell in Montreal as prices soared by more than 20 per cent compared with a year ago.

CALGARY — Enbridge Inc. has raised its quarterly dividend as it announced the approval of $1.1 billion in new capital projects.

OTTAWA — Canada's merchandise trade surplus increased to $2.1 billion in October as exports of motor vehicles and parts and energy products rose higher, Statistics Canada said Tuesday. The result compared with a revised trade surplus of $1.