National Business

OTTAWA — Refugees are being left behind by Canada's oversized immigration backlogs, and people from some countries are worse off than others, the auditor general found in her investigation of immigration applications.

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed's target level will likely require a slower-growing economy and job market.

TORONTO — A survey by EY shows 81 per cent Canadian companies experienced at least 25 cybersecurity incidents over the past year, compared to 73 per cent of respondents globally.

BRAMPTON, Ont. — Loblaw Companies Ltd. says members of its PC Optimum loyalty program can now redeem their points for monthly subscriptions to the Apple TV+ streaming service and Apple Arcade.

MONTREAL — Desjardins Group says it is cutting close to 400 jobs as it responds to economic uncertainty.

ALLISTON, Ont. — Japanese automaker Honda says it will start producing the Civic Hybrid next year at its plant in Alliston, Ont. The company says the Ontario plant will produce the sedan version of the car.

BANGKOK — Wall Street isn’t moving much, but a swirl of competing forces are pushing and pulling on markets under the seemingly calm surface.

Applications for unemployment benefits fell to their lowest level in eight months last week as businesses continue to retain workers despite elevated interest rates meant to cool the economy and labor market.

HELSINKI (AP) — Telecom gear maker Nokia said Thursday that it is planning to cut up to 14,000 jobs worldwide, or 16% of its workforce, as part of a push to reduce costs following a plunge in third-quarter sales and profit.

TORONTO — As higher interest rates and the cost of living increasingly pinch Canadians' wallets, consumers ranked BMO highest in J. D. Power's annual customer satisfaction survey.