National Business

TORONTO — An unprecedented surge in demand for low-rise housing pushed Toronto area home sales and prices to record highs in August, as the market continued to play catch-up from the COVID-19 lockdown this spring.

TORONTO — North American stock markets plunged Thursday, spurred on by a selloff in the overheated technology sector and concerns about the pace of economic recovery.

TORONTO — Two of Canada's favourite summer hotspots are in for a ride as they try to keep their operations alive amid COVID-19.

TORONTO — Credit rating agency Equifax Canada says total consumer debt increased 2.8 per cent to $1.99 trillion in the second quarter amid a strong recovery in the housing market.

TORONTO — International travellers arriving at Toronto's Pearson airport can now be tested for COVID-19 as part of a voluntary study to explore the effectiveness of quarantines.

OTTAWA — As fixed-rate mortgage rate offerings tumble, those with variable loans thinking about switching over and locking in need to consider more than just the rate, experts say. James Laird, co-founder of Ratehub.

WASHINGTON — Growth in the U.S. services sector, where most Americans work, slowed in August after big rebounds in June and July, indicating lingering problems stemming from the coronavirus pandemic.

DUBAI, United Arab Emirates — International port operator DP World reached a deal Thursday with one of Canada’s biggest pension-fund managers to pour an additional US$4.5 billion into their joint venture of ports and terminals.

SILVER SPRING, Md. — U.S. productivity rose at a 10.1% rate in the second quarter as the number of hours worked declined by the largest amount since the government started compiling the data more than 70 years ago.

OTTAWA — Canada's merchandise trade deficit was $2.45 billion in July as both imports and exports continued to post strong gains, but remained below pre-pandemic levels, Statistics Canada said Thursday.