National Business

FRANKFURT — The OPEC oil producers' cartel was to push ahead with a new round of discussions Tuesday about how much to pump next year as countries wrestled over whether to extend the production cuts that have been supporting prices depressed by the p

CALGARY — Shares in Imperial Oil Ltd. were rising after it announced late Monday it would write down up to $1.2 billion on Canadian assets it doesn't think it will ever develop.

TORONTO — Canadian bank executives say an economic rebound is on its way after months of governments and financial institutions working to offset turmoil with loans, deferrals, interest rate cuts and subsidies.

CALGARY — Suncor Energy Inc. is forecasting higher spending and production in 2021 based on benchmark U.S. oil prices staying near their current levels of around US$45 per barrel.

SILVER SPRING, Md. — U.S. construction spending jumped 1.3% in October, the fifth straight monthly increase, again on the strength of single-family home building. The October gain follows a strong upward revision to 0.

TORONTO — BMO Financial Group says it is winding down its non-Canadian investment and corporate banking business in the energy sector as the bank topped expectations with a $1.6-billion profit in its latest quarter.

MONTREAL — Supremex Inc. says it is closing its Edmonton facility and cutting 39 jobs in a move to reduce costs. The envelope maker says the cuts represent about five per cent of its total workforce.

MONTREAL — Canadians planning to buy a live Christmas tree this season should start shopping now and expect to pay more, the Canadian Christmas Tree Growers Association says. Farmers anticipate 2020 will be a record sales year.

BEIJING — Asian stocks rose Tuesday after Chinese manufacturing improved, with investors looking ahead to U.S. Federal Reserve Chairman Jerome Powell’s appearance before legislators. Benchmarks in Shanghai, Tokyo, Hong Kong and Sydney advanced.

WILMINGTON, Del.