National Business

NEW YORK (AP) — Birkenstock shares are stumbling in their debut on the stock market as Wall Street trades in its wingtips for sandals for a day.

OTTAWA — Canada's telecommunications regulator has sided with BCE Inc. in a final offer arbitration proceeding between that company and Quebecor Inc. over wholesale mobile virtual network operator (MVNO) data rates.

Exxon Mobil is buying Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, its largest buyout since acquiring Mobil two decades ago, creating a colossal fracking operator in West Texas.

OTTAWA — Statistics Canada says the total monthly value of building permits in Canada rose 3.4 per cent in August to $11.9 billion, as gains in the non-residential sector offset modest declines in residential construction plans.

WASHINGTON (AP) — U.S. wholesale prices rose last month at the fastest pace since April, suggesting that inflationary pressures remain despite a year and a half of higher interest rates.

MONTREAL — Velan Inc. says Bruno Carbonaro has resigned as chief executive and a director of the company. The maker of industrial valves says board chair James Mannebach has been named interim CEO.

MONTREAL — MTY Food Group Inc. reported its third-quarter profit rose compared with a year ago as its revenue gained 74 per cent. The restaurant company says its net income attributable to owners totalled $38.9 million or $1.

TORONTO — Unifor put a short-lived strike on hold Tuesday after General Motors agreed to a tentative contract that mirrors the one the union reached with Ford Motor Co. about two weeks ago.

TORONTO — The Canadian Federation of Independent Grocers is calling on the Crown corporation that manages dairy supply and pricing to hit pause on any further increases to milk prices amid political pressure to keep food prices down.

TORONTO — A group of leaders in the agriculture and food industries is launching a national alliance to work toward achieving net zero in Canada's agri-food sector by 2050.