National Business

TORONTO — An Emily Carr painting that sold for US$50 at an estate sale has fetched C$290,000 at a Toronto auction.

FRANKFURT, Germany (AP) — Ford Motor Co. says it will reduce its workforce by 4,000 in Europe and the U.K. by the end of 2027, citing headwinds from the economy and pressure from increased competition and weaker than expected sales of electric cars.

VANCOUVER — Geoff Johnson and fellow storm watchers in Ucluelet, B.C., were concerned on Tuesday about the so-called "bomb cyclone" taking shape off Vancouver Island — not for safety reasons, but because they wondered if it would be "disappointing."

EDMONTON — Former prime minister Stephen Harper is the new chairman of the Alberta Investment Management Corp., which oversees more than $160 billion in funds, including pension funds and the Heritage Savings Trust Fund.

LOS ANGELES (AP) — Nvidia on Wednesday reported a surge in third-quarter profit and sales as demand for its specialized computer chips that power artificial intelligence systems remains robust.

SURREY — Mounties in Surrey, B.C., say a year-long investigation has led to one of the largest drug seizures in the detachment's history and will "disrupt" the drug trade in the city.

MONTREAL — The City of Montreal is promising to speed up construction permits, raise taxes on owners of vacant lots and spend tens of millions more dollars to help develop affordable housing as part of its 2025 budget.

OTTAWA — Randy Boissonnault is leaving his post as employment minister in Prime Minister Justin Trudeau's Liberal cabinet after weeks of questions about the Edmonton MP's shifting claims of Indigenous identity and his business dealings.

TORONTO — Manulife Financial Corp. says it has struck another deal to off-load lower-return assets through a $5.4-billion reinsurance deal.

Just days after being appointed to their new jobs, three members of the British Columbia government are off to California to promote the province as a hot spot for film production.