National Business

MONTREAL — A stable economic outlook and rising cargo volumes bode well for Canadian National Railway Co. this year, executives said, despite the Red Sea crisis dampening container figures on the East Coast.

Tesla’s first-quarter net income plummeted 55%, but its stock price surged in after-hours trading Tuesday as the company said it would accelerate production of new, more affordable vehicles. The Austin, Texas, company said it made $1.

VANCOUVER — West Fraser Timber Co. says it earned US$35 million in its first quarter, up from a loss of US$42 million a year earlier. Earnings per diluted share were 42 cents US, compared with a loss of 52 cents during the same quarter last year.

TORONTO — First Quantum Minerals Ltd. says it lost US$159 million in its first quarter, down from profits of US$75 million a year earlier. However, it's a shallower loss than the US$1.45 billion First Quantum reported in the previous quarter.

GATINEAU, Que. — It's likely that Bunge Ltd.'s US$8.2-billion deal to acquire Viterra Ltd. would "substantially" reduce competition in the grain and canola oil markets, the Competition Bureau says.

TORONTO — The $5-billion announced for an Indigenous loan guarantee program in last week's budget is just a start, said Deputy Prime Minister Chrystia Freeland.

TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (22,011.72, up 139.76 points): Enbridge Inc. (TSX:ENB). Energy. Down two cents, or 0.04 per cent, to $48.41 on 13.4 million shares.

TORONTO — Canada's main stock index rose nearly 140 points Tuesday, led by strength in technology stocks, while U.S. stock markets also climbed. The rally was led by technology stocks, with the Nasdaq rising 1.6 per cent.

NEW YORK (AP) — Stocks rallied for a second straight day on Wall Street, softening what’s been a rough April. The S&P 500 added 1.2% Tuesday to pull further out of the hole created by a six-day losing streak.

ABBOTSFORD, B.C. — The British Columbia government is contributing up to $25 million toward the expansion of a milk production plant aimed at boosting the supply of locally sourced food.