National Business

MONTREAL — Politics, public opinion and salary hikes south of the border helped push Air Canada toward a deal that secures major pay gains for pilots, experts say.

HALIFAX — Some Halifax-area landlords on Monday defended their use of fixed-term leases as necessary to recoup costs under Nova Scotia’s rent cap, despite criticism the leases help property owners skirt the rules.

TORONTO — Canada's main stock index rose Monday on broad-based strength, while U.S. markets were mixed as investors anticipated an interest rate cut later in the week, though the Dow set a new record.

HALIFAX — Ottawa is negotiating a $500-million bailout for Nova Scotia's privately owned electric utility, saying the money will be used to prevent a big spike in electricity rates.

NEW YORK (AP) — The Dow Jones Industrial Average closed at another all-time high after recouping its losses from early September. The S&P 500 rose close to its own record, but was held back by losses in Big Tech companies like Apple and Nvidia.

The lead engineer for an experimental submersible that imploded en route to the wreck of the Titanic testified Monday that he felt pressured to get the vessel ready to dive and refused to pilot it.

In an era of increased strike activity and union power, labour experts say it’s not surprising to see more calls for government intervention in certain sectors like transportation.

FREDERICTON — New Brunswick's finance minister says the province recorded a surplus of $500.8 million for the fiscal year that ended in March. Ernie Steeves says the amount — more than 10 times higher than the province's original $40.

The Canadian Real Estate Association says the number of homes sold in August fell compared with a year ago as the market remained largely "stuck in a holding pattern" despite borrowing costs beginning to come down.

OTTAWA — Finance Minister Chrystia Freeland has announced changes to mortgage rules she says are aimed at helping more Canadians to purchase their first home.