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WASHINGTON (AP) — Chair Jerome Powell said Monday that the Federal Reserve is becoming more convinced that inflation is headed back to its 2% target and said the Fed would cut rates before the pace of price increases actually reached that point.

TORONTO — Ontario Premier Doug Ford's government is rushing to get ready-to-drink cocktails on grocery store shelves amid a strike at the province's main liquor retailer that has focused on that very issue.

The Tourism Industry Association of Ontario is calling for a swift resolution to an ongoing strike by the province's liquor store workers, saying the labour dispute is affecting tourism operators during their peak season.

CALGARY — The ban on outdoor watering in Calgary and surrounding communities is staying in place for at least the next few days.

HAMILTON — Seven years after it climbed out of creditor protection and embarked on a major turnaround, Stelco Holdings Inc. said it will be acquired by Cleveland-Cliffs Inc. in a $3.4-billion deal. In a release Monday, the storied Hamilton, Ont.

The Bank of sa¹ú¼Ê´«Ã½ says business and consumer sentiment remained subdued during the second quarter of the year even as the country saw its first interest rate cut in years.

TORONTO — Corus Entertainment Inc. says it expects to have slashed 25 per cent of its full-time workforce by the end of next month compared with the beginning of its 2023 fiscal year, as the company continues to "aggressively cut costs.

MONTREAL — Wildfires burning near Labrador City, N.L. have prompted mining companies in the area to temporarily halt operations. Over the weekend, Montreal-based Champion Iron Ltd. and Toronto-based Iron Ore Co.

OTTAWA — Statistics sa¹ú¼Ê´«Ã½ says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, fell 0.8 per cent to $82.2 billion in May.

EDMONTON — The Alberta government plans to relax a rule that requires energy companies seeking to buy viable wells from bankruptcy proceedings to first pay all the failed producer's outstanding taxes.