Commuters walk past a Sears store in Toronto on Thursday April 25, 2013. Sears Canada Inc. reported a net loss of $21.3 million, or 21 cents per share, in the second quarter, compared to a profit of $152.8 million, or $1.50, in the same period last year.
Bank of America has reached a record $17 billion settlement to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, officials directly familiar with the matter said Wednesday.
Improving labor markets are bringing Federal Reserve officials closer to a time when they can get back to traditional central banking, where there's a tighter connection between changes in economic data and movements in short-term interest rates.
Canada's benchmark stock index hit a new all-time high of 15,561 on Wednesday, buoyed by higher commodity prices and despite some shaky corporate profits.
Executives sounded upbeat about a strong start to the back-to-school shopping season Wednesday as they discussed the retailer's latest quarterly results.