National Business

MONTREAL — CAE Inc. is reporting a big drop in profits for its latest quarter as the company grapples with supply-chain constraints. The flight simulator maker says net income attributable to shareholders fell 26 per cent to $48.

HALIFAX — A national union that represents workers at Atlantic Canada's largest newspaper chain says conditions demanded by Postmedia in its bid to buy the insolvent SaltWire Network are not as bad as some observers had feared.

HALIFAX — One major step that Nova Scotia can take to reduce homelessness is by addressing the "pathways" that lead vulnerable people to end up on the street, the head of a shelter for women and children said Tuesday.

NEW YORK (AP) — U.S. stocks rose to one of their best days of the year as Wall Street relaxed after the first of several highly anticipated reports on the economy this week came in better than expected. The S&P 500 rallied 1.

MONTREAL — The country's two main railways have started to halt shipments ahead of a potential strike or lockout next week, the first step toward a possible shutdown as the bargaining deadline approaches. Canadian National Railway Co.

TORONTO — Costco Wholesale is testing membership card scanners at the entrances to its stores at several locations across Canada. The retailer says it's testing the scanners at stores in Ottawa, Edmonton, Regina and the B.C. Lower Mainland.

TORONTO — The Ontario Teachers' Pension Plan Board says it earned a net return of 4.2 per cent for the first six months of this year. The result came as the pension fund says it earned net investment income of $10.8 billion for the period.

Starbucks, struggling with weak demand and disgruntled investors, said Tuesday it's replacing CEO Laxman Narasimhan with Brian Niccol, the chairman and CEO of Chipotle.

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WASHINGTON (AP) — Wholesale price increases in the United States eased in July, suggesting that inflation pressures are further cooling as the Federal Reserve moves closer to cutting interest rates, likely beginning next month.