National Business

HALIFAX — Layoffs at Atlantic Canada’s largest newspaper chain are necessary because the properties were facing bankruptcy, according to the CEO of Postmedia Network Inc.

TORONTO — Canada's main stock index rose on Friday, as strength in financial and technology stocks helped outweigh weakness in energy, while U.S. markets rose to a solid finish after a day of mixed trading.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. Stocks on Wall Street bounced back from a midafternoon fade Friday, leaving the market on pace to close out its fourth-straight winning month with more gains. The S&P 500 was up 0.

MONTREAL — The union representing thousands of railroaders has appealed the federal government's move that ended last week's rail shutdown — a work stoppage that halted freight and commuter traffic across the country.

OTTAWA — Economists say the Bank of Canada is still on track to cut interest rates next week, despite economic growth coming in stronger than expected in the second quarter.

TORONTO — More than 4,000 convenience stores across Ontario have been licensed to sell alcohol as new liberalized rules are set to take effect next week.

TORONTO — Cannabis retailer Tokyo Smoke says it will be shuttering 29 of its stores as it seeks creditor protection. The closures are part of a restructuring the brand is carrying out under the Companies' Creditors Arrangement Act.

VANCOUVER — The Vancouver Art Gallery says the construction cost of its planned new home has jumped from an original estimate of $400 million to $600 million, forcing a redesign.

MINNEAPOLIS (AP) — Two Minnesota women are charged with organizing thefts of several thousand dollars' worth of merchandise from a Lululemon store in Minneapolis and then funneling the stolen goods through a suburban nail salon.

OTTAWA — The Finance Department says the federal deficit was $2.9 billion over the first three months of the fiscal year. The result compared with a $3.