National Business

CALGARY — Nova Chemicals Corp. has appointed a veteran petrochemical industry executive to replace CEO Todd Karran, who previously announced his retirement.

TORONTO — Canada's main stock index dipped on rising COVID-19 infections but still outperformed its U.S. counterparts as the materials sector surged with the price of gold hitting a near nine-year high.

Canada's two largest railways moved record quantities of grain in the second quarter after benefiting from another strong month in June.

TORONTO — Shares in Kirkland Lake Gold Ltd. jumped by 5.2 per cent to $59.71 on Tuesday after it reported higher-than-expected gold production in the second quarter ended June 30.

ST. JOHN'S, N.L. — Environmental groups are celebrating after the Newfoundland and Labrador Supreme Court ruled the province's oil and gas board acted unreasonably by extending an exploration drilling licence beyond the defined term limit.

CALGARY — Oilsands companies are restoring thousands of barrels of daily production to take advantage of higher oil prices as relaxed pandemic measures allow North American consumers to get back on the road.

TORONTO — More buyers are wading into the Greater Toronto Area housing market after putting the hunt for a home on hold at the start of the COVID-19 pandemic, but there aren't enough properties available to meet the demand.

OTTAWA — The Organization for Economic Co-operation and Development says the unemployment rate in Canada peaked in the second quarter of this year, topping the mark hit in the financial crisis.

WASHINGTON — The job market took a big step toward healing in May, though plenty of damage remains, as a record level of hiring followed record layoffs in March and April.

OTTAWA — The parliamentary budget office says it could cost more than $98 billion to provide almost all Canadians with a basic income for six months beginning this fall.