National Business

OTTAWA — The Bank of Canada's governing council considered waiting until July to raise interest rates, but ultimately decided to act sooner in the face of hot economic data.

WASHINGTON (AP) — With inflation in the United States still excessive, most Federal Reserve officials expect to raise interest rates further this year, Chair Jerome Powell told a House committee Wednesday.

OTTAWA — Canadian retail sales came in stronger than initially estimated, as analysts say consumers proved resilient amid an economically challenging environment but that momentum is expected to slow. Retail sales rose 1.1 per cent to $65.

CALGARY — Baytex Energy Corp. says it has closed its $2.9-billion acquisition of U.S. oil company Ranger Oil Corp. The deal, first announced in February, grows Calgary-based Baytex's presence in the Eagle Ford shale region of south Texas.

OTTAWA — A group of technology and human rights organizations are calling on the federal government to take immediate action to address concerns around artificial intelligence and facial recognition technology.

BRUSSELS (AP) — European Union countries on Wednesday agreed on a new package of sanctions against Russia for its war against Ukraine aimed at countering sanctions circumvention through third countries and businesses.

TORONTO — Allied Properties Real Estate Investment Trust says it has signed a deal to sell its urban data centre portfolio in downtown Toronto to Japanese telecommunications company KDDI Corp. for $1.35 billion.

A Canadian aircraft has detected underwater noise during its search for a lost sub near the wreck of the Titanic in the Atlantic Ocean. The U.S.

The federal government moved this week to bolster accountability at airports, introducing new legislation that would compel them and other operators to cough up more information on their performance.

TORONTO — An apparent rift among the organizations representing chartered professional accountants in Canada became public when two provincial groups said they are severing ties with their national counterpart.