National Business

CALGARY — A 72-year-old bastion of the Canadian oilpatch is changing its name and mandate in a sign of the times as the world aims to reduce its use of fossil fuels in favour of cleaner, greener forms of energy.

SILVER SPRING, Md. (AP) — Fewer Americans signed contracts to buy homes in April as a lack of supply continues to foil would-be buyers. The National Association of Realtors’ index of pending home sales fell 4.4% to 106.

LUNENBURG, N.S. — Three levels of government are providing funding to help promote the 100th anniversary of the launch of the Bluenose schooner in Nova Scotia. Ottawa, the province and the Town of Lunenburg, N.S.

WASHINGTON (AP) — The U.S. economy grew at a robust annual rate of 6.4% in the first three months of this year, unchanged from the government's initial estimate.

TORONTO — Across the bridge from B.C.'s Granville Island sits a building with 45 apartments atop a Subway restaurant and nail salon. While the Lex might look similar to its neighbours, its soon-to-be investors are hardly the norm.

WASHINGTON (AP) — The number of Americans seeking unemployment benefits dropped last week to 406,000, a new pandemic low and more evidence that the job market is strengthening as the virus wanes and economy further reopens.

WASHINGTON (AP) — U.S. orders for big-ticket manufactured goods dropped unexpectedly in April for the first time in 11 months as a shortage of computer chips disrupted auto production.

TORONTO — The chief executive of Canadian Imperial Bank of Commerce is expecting the country to soon experience an economic boost as more people become fully vaccinated against COVID-19. "Our neighbours to the south...

NEW YORK (AP) — Lawrence Block has followed many paths during his long career. “With not a few dead end roads among them,” notes the mystery novelist.

NEW YORK (AP) — The Metropolitan Opera would be able to cut the fees of its highest-paid individual singers by 12.7% under a pending four-year contract with the American Guild of Musical Artists.