National Business

TORONTO — Canadian banks are continuing to put aside hefty amounts of money to protect themselves from bad loans as the COVID-19 pandemic rages on, even as they hope the worst has passed.

NEW YORK — Rivals in life, the rappers Notorious B.I.G. and Tupac Shakur are being united for an auction at Sotheby’s, the first-ever dedicated hip-hop auction at a major international auction house.

TORONTO — The self-regulatory organization that oversees investment dealers and their trading activity in Canada says a merger with the Mutual Fund Dealers Association would save as much as half a billion dollars over 10 years.

SILVER SPRING, Md. — Sales of new homes jumped again in July, rising 13.9% as the housing market continues to gain traction following a spring downturn caused by pandemic-related lockdowns.

WASHINGTON — U.S. consumer confidence fell for the second consecutive month, sinking to the lowest levels in more than six years as a resurgence of COVID-19 infections in many parts of the country heightened pessimism.

TORONTO — Foodora Inc.'s parent company has reached a $3.46-million settlement with its former Canadian couriers after shutting down its delivery service in the country.

WASHINGTON — U.S. home prices rose at a slightly slower pace in June, but the U.S. housing market continued to show resilience in the face of the coronvavirus pandemic. The S&P CoreLogic Case-Shiller 20-city home price index rose 3.

TORONTO — BMO Financial Group put aside a hefty amount of money again to protect itself from bad loans, but still managed to beat expectations and post a $1.23-billion profit in its latest quarter.

TORONTO — Optimism in the wake of positive signs for relief from the pandemic-induced economic slump powered markets higher in both Canada and the United States on Monday.

TORONTO — Flight Centre Travel Group Inc. has reached a $7-million settlement in a proposed class action lawsuit against it by its Canadian travel agents.