TORONTO -- Royal Bank has cut long-term mortgage rates by a 10th of a point, the second time in a week it has lowered rates on housing loans. Shorter-term mortgages (six months to three years) remain unchanged. The new rate for a four-year closed loan at the Royal drops to 6.5%, while a five-year term goes to 6.6% and a 10-year closed loan to 7.4%.

HALIFAX -- CanJet Airlines says it will rehire more than 100 pilots and flight attendants as it launches its new charter operation. CanJet, which dropped 456 employees Sept. 5 when it abruptly ended scheduled passenger service, has since arranged to provide autumn and winter charter flights between various Canadian cities and sun-spot destinations.

TORONTO -- Aiming at the high-growth Indianapolis market, a Bank of Montreal subsidiary has agreed to pay $290 million US for First National Bank & Trust. Chicago-based Harris Financial Corp. will expand its community-focused personal and commercial banking services further into Indiana, Bank of Montreal said.

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