National Business

OTTAWA — Statistics Canada says retail sales rose 0.4 per cent in July to $51.5 billion, the first increase in three months. Economists had expected an increase of 0.6 per cent, according to financial markets data firm Refinitiv.

DETROIT — A General Motors offer to invest $7 billion in U.S. facilities includes $2 billion from joint ventures and suppliers for new plants that would pay workers less than the top union wage, a person briefed on the matter said.

DUBAI, United Arab Emirates — Any attack on Iran by the U.S.

SACRAMENTO, Calif.

Airbnb Inc. said Thursday it plans to go public in 2020, a long-awaited move by the home-sharing company that is both loved and reviled for its disruption of the hotel business. Airbnb disclosed the news in a brief statement.

FedEx says one of its pilots was detained in China after an item was found in his luggage before he boarded a commercial flight.

WEST HARTFORD, Conn.

TORONTO — Canada's main stock index set new record highs Thursday on a broad-based rally led by materials and financials. The gains were fuelled in part from Wednesday's interest rate cuts by the U.S.

TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (16,858.35, up 58.06 points). Baytex Energy Corp. (TSX:BTE). Energy. Up three cents, or 1.36 per cent, to $2.23 on 7.5 million shares.

OTTAWA — The Bank of Canada has appointed Toni Gravelle as its new deputy governor. The central bank says that effective Oct. 1 Gravelle will replace Lynn Patterson, who retired over the summer.