National Business

NEW YORK (AP) — U.S. stocks slumped Friday in another washout, as businesses around the world scrambled to contain the effects of a disruptive technology outage . The S&P 500 fell 0.

CALGARY — A proposed class-action lawsuit has been filed against the City of Calgary, claiming businesses needlessly lost significant revenue due to a water main break.

NEW YORK (AP) — Much of the world faced online disarray Friday as a widespread technology outage affected companies and services across industries — grounding flights, knocking banks and hospital systems offline and media outlets off air.

TORONTO — Canadians who woke up Friday to a worldwide technology outage that disrupted airlines, hospitals and banks may be thinking back to a widespread telecom outage from two years ago. The July 2022 outage of Rogers Communications Inc.

TORONTO — A grocery code of conduct could stabilize food prices in the future and encourage more investment in the Canadian food industry, according to the president of Kraft Heinz Canada.

MONTREAL — It's one of Quebec's many idiosyncrasies that in the dog days of summer, when everyone wishes they were on holiday, virtually the entire construction industry and a good chunk of the rest of the province close up shop for two weeks.

TORONTO — Morningstar DBRS says insurance claims caused by the Toronto flood earlier this week could be "significant but manageable" for insurers.

Airlines, banks, hospitals and other risk-averse organizations around the world chose cybersecurity company CrowdStrike to protect their computer systems from hackers and data breaches.

YEKATERINBURG, Russia (AP) — Wall Street Journal reporter Evan Gershkovich was convicted Friday of espionage and sentenced to 16 years in a maximum-security prison on charges that his employer and the U.S. government have rejected as fabricated.

OTTAWA — Canadians reined in their spending in May as retail sales dropped 0.8 per cent, weighed down by decreases at grocers and alcoholic beverage retailers, Statistics Canada reported on Friday.