Economy, Law & Politics

TORONTO — Canada's main stock index fell almost one per cent Monday, weighed down by losses in energy, technology and utilities, while U.S. markets were mixed. The S&P/TSX composite index closed down 231.41 points at 24,536.32.

NEW YORK (AP) — U.S. stock indexes were split on Monday as gains for oil-and-gas producers helped offset drops for Nvidia and other Big Tech companies. The S&P 500 rose 0.2% after erasing an earlier fall of 0.9%.

EDMONTON — Alberta Premier Danielle Smith, fresh off a weekend visit with U.S. president-elect Donald Trump, cautioned Ottawa against blocking energy exports to the U.S.

OTTAWA — The federal Liberals are running their first leadership race in more than a decade to replace the departing Justin Trudeau. Candidates must declare by Jan. 23 and pay a $350,000 fee to enter the race. The winner will be named on March 9.

The U.S. benefits just as much as Canada does from the current bilateral trade relationship, argues a new report by economist Jim Stanford. Among the reasons for the equal benefits include Canada being the largest market for U.S.

TORONTO — A new report says the cost of insured damage caused by severe weather last year hit a record high as it totalled more than $8 billion.

Five things to watch for in the Canadian business world in the coming week, including Foreign Affairs Minister Mélanie Joly's trip to Washington and a speech from Bank of Canada deputy governor Toni Gravelle.

OTTAWA — The cost to send a letter in Canada is increasing by about 25 per cent, effective today. Canada Post says the cost of stamps for domestic mail bought in a booklet, coil or pane has increased by 25 cents to $1.24 per stamp.

With less than two weeks to go until Trump returns to the White House, it's still not clear how the Republican leader will enact his tariff agenda, but the International Economic Emergency Powers Act is one possibility.