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TORONTO - TSX plunges 433 points

The Toronto stock market plunged more than 400 points Wednesday, its biggest one-day drop in more than three months.

The fall came as investors worried that slowing economic conditions in North America and Europe will slash demand for metals and crude.

It was a broad-based retreat led by commodity stocks, but transportation stocks also fell sharply on concerns about lower commodity shipments.

Killam announces $7.3 million in acquisitions

HALIFAX - Killam Properties Inc., a Halifax-based real estate company, says it has made three acquisitions totalling 489 manufactured home community sites in three Ontario communities.

The pricetag for the purchases is $7.3 million, the company said Wednesday.

The acquisitions increase Killam's total rental portfolio to 17,911 units.

Killam is one of Canada's largest residential landlords, owning and operating multi-family apartments and manufactured home communities.

GM Canada June sales down 23.8 per cent

TORONTO - General Motors of Canada has reported a 23.8 per cent skid in June sales as truck sales plummeted more than 35 per cent.

The Canadian vehicle market leader said Wednesday its sales totalled 32,355 cars and light trucks last month, reflecting higher gasoline prices and a consumer shift to more fuel-efficient vehicles.

Truck sales fell by 35.3 per cent from a year ago to 14,243, while GM's car sales dropped 11.5 per cent to 18,122.

Shoppers Drug Mart acquires HealthAccess

TORONTO - Shoppers Drug Mart Corp. has bought the HealthAccess specialty pharmacy business from Calea Ltd. for an undisclosed amount, broadening the drugstore chain operator's special pharmacy services capabilities.

Shoppers said Wednesday the purchase includes distribution and dispensing, therapy management, reimbursement consulting and other manufacturer services, as well as a call-centre business including patient and drug manufacturer support and adherence monitoring.

The businesses will operate as Shoppers Drug Mart Specialty Health Network Inc.

Shoppers operates more than 1,095 Shoppers Drug Mart and Pharmaprix in Canada and owns MediSystem Technologies, a provider of pharmaceutical products and services to long-term care facilities in Ontario and Alberta.

American could cut 900 flight attendant jobs

DALLAS - American Airlines says it could cut 900 flight attendant jobs as it reduces flights to cope with record high fuel costs.

The Fort Worth, Tex.-based airline expects to reduce jobs for pilots and mechanics too, but it hasn't released numbers yet.

In May, American announced it would cut capacity 11 per cent to 12 per cent later this year, retire some planes and cut an unspecified number of jobs.

Federal law requires employers to give 60 days notice of major layoffs, and officials of the flight attendants' union said they received a notice Wednesday of job reductions that could start Aug. 31.

Sources: The Canadian Press, The Associated Press