National Business

Audio streaming platform Spotify says that requiring it to make a contribution aimed at supporting Canadian content could force the company to cut its existing investments in order to maintain its financial viability.

FORT SASKATCHEWAN, Alta. — Dow Chemical has announced plans to invest nearly $9 billion in a net-zero petrochemical project northeast of Edmonton.

TORONTO — Canada's main stock index posted a small gain Wednesday, led higher by financials and battery metals, while U.S. markets were mixed. The S&P/TSX composite index closed up 79.43 points at 20,116.20.

CALGARY — Executives and senior leaders from Canada's oil and gas sector are heading to Dubai for the upcoming United Nations COP28 climate talks, eager to tell the world they are doing what they can to reduce greenhouse gas emissions.

NEW YORK — Stocks drifted to a mixed close on Wall Street as drops in several Big Tech companies offset gains in other parts of the market. The S&P 500 gave up an early gain and closed down 0.1% Wednesday. The Nasdaq composite fell 0.

TORONTO — Small businesses lost more than $38 billion in revenue opportunities last year because of labour shortages, according to estimates from the Canadian Federation of Independent Business.

WASHINGTON (AP) — Shrugging off higher interest rates, America's consumers spent enough to help drive the economy to a brisk 5.2% annual pace from July through September, the government reported Wednesday in an upgrade from its previous estimate.

VANCOUVER — The Vancouver-based company that helped develop the first antibody therapy treatment for COVID-19 has announced layoffs amounting to 10 per cent of its workforce. AbCellera Biologics Inc.

CALGARY — Enbridge Inc. is raising its dividend as it expects its business to continue to grow next year.

DETROIT (AP) — General Motors says pretax earnings took a $1.1 billion hit this year from a six-week strike by autoworkers, but the company expects to absorb the costs of a new contract and is even raising its dividend.