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Business News

Ontario court permits Nordstrom Canada to liquidate closing stores

Ontario court permits Nordstrom Canada to liquidate closing stores

Mar 20, 2023 / 7:19 am

Bargain hunters are one step closer to seeing sales at Nordstrom’s closing Canadian locations. At a hearing at Osgoode Hall in Toronto on Monday, the...

Credit Suisse, UBS shares plunge after takeover announcement

Credit Suisse, UBS shares plunge after takeover announcement

Mar 20, 2023 / 6:47 am

Shares of Credit Suisse plunged 63% in early trading Monday after the announcement that banking giant UBS would buy its troubled rival for almost $3.25 billion...

Air passenger complaints triple in one year; pass 42,000 as backlog grows

Air passenger complaints triple in one year; pass 42,000 as backlog grows

Mar 20, 2023 / 6:38 am

The number of air passenger complaints to Canada's transport regulator is soaring, more than tripling to 42,000 over the past year. The growing backlog...

Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week

Mar 20, 2023 / 6:30 am

Five things to watch for in the Canadian business world in the coming week: Nordstrom sales A court hearing is expected to be held on Monday for Nordstrom...

New York Community Bank to buy failed Signature Bank

New York Community Bank to buy failed Signature Bank

New York Mar 19, 2023 / 6:45 pm

New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the Federal Deposit Insurance Corp. said late...

Banking giant UBS acquiring Credit Suisse to rein in turmoil

Banking giant UBS acquiring Credit Suisse to rein in turmoil

Mar 19, 2023 / 12:40 pm

Banking giant UBS is buying its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset...

'I'm back!': Trump returns to Facebook after reinstatement

'I'm back!': Trump returns to Facebook after reinstatement

New York Mar 17, 2023 / 2:48 pm

Former President Donald Trump has returned to Facebook after a more than two-year ban. “I’M BACK!” Trump posted on the site weeks after his...

Lobster giant partially owned by Indigenous bands delivering higher sales and profits

Lobster giant partially owned by Indigenous bands delivering higher sales and profits

Halifax Mar 17, 2023 / 12:28 pm

A seafood giant that is half-owned by a coalition of East Coast First Nations is reporting a leap in annual sales, as 2022 revenues rose by $71.6 million...

Markets slump Friday as investors grapple with banking fallout, rate uncertainty

Markets slump Friday as investors grapple with banking fallout, rate uncertainty

Toronto Mar 17, 2023 / 12:27 pm

Financial markets have flip-flopped all week as a global crisis in confidence over the banking sector has led to a dramatic shift in expectations for central...

Indigenous-led prospective buyer 'not going away' even as Trans Mountain costs spiral

Indigenous-led prospective buyer 'not going away' even as Trans Mountain costs spiral

Mar 17, 2023 / 9:43 am

An Indigenous-led initiative says it is still pursuing ownership of the Trans Mountain pipeline, in spite of the project's ballooning price tag. Project...

Biden calls for tougher penalties for failed bank execs

Biden calls for tougher penalties for failed bank execs

Mar 17, 2023 / 9:30 am

President Joe Biden on Friday called on Congress to allow regulators to impose tougher penalties on the executives of failed banks, including clawing back...

Cannabis 'price war' could cause 'significant' damage to industry: HEXO CEO

Cannabis 'price war' could cause 'significant' damage to industry: HEXO CEO

Mar 17, 2023 / 9:24 am

Hexo Corp.'s chief executive says he's seen a "price war" take shape over the last five months that could cause "significant" damage...

CP Rail, Kansas City Southern Rail to combine next month under new name

CP Rail, Kansas City Southern Rail to combine next month under new name

Mar 17, 2023 / 7:42 am

Canadian Pacific Railway Ltd. says it will officially combine with Kansas City Southern Railway Co. on April 14 under a new name, Canadian Pacific Kansas City....

China appeals for fair treatment after latest TikTok bans

China appeals for fair treatment after latest TikTok bans

Mar 17, 2023 / 7:39 am

China appealed Friday to other governments to treat its companies fairly after Britain and New Zealand joined the United States in restricting use of TikTok due...

Parent of Silicon Valley Bank seeks bankruptcy protection

Parent of Silicon Valley Bank seeks bankruptcy protection

Mar 17, 2023 / 6:31 am

The parent of Silicon Valley Bank, seized last week by the U.S., is filing for Chapter 11 bankruptcy protection. SVB Financial Group, along with its CEO and its...

Inflation easing, but Ottawa faces pressure to help those who have fallen behind

Inflation easing, but Ottawa faces pressure to help those who have fallen behind

Mar 17, 2023 / 6:28 am

Canada's inflation rate likely took another dip last month, but with many Canadians still struggling with the cost of living, the federal government is...

Microsoft adds AI tools to Office apps like Outlook, Word

Microsoft adds AI tools to Office apps like Outlook, Word

Mar 16, 2023 / 1:44 pm

Microsoft is infusing artificial intelligence tools into its Office software, including Word, Excel and Outlook emails. The company said Thursday the new...

Big banks create $30B rescue package for First Republic

Big banks create $30B rescue package for First Republic

Mar 16, 2023 / 1:39 pm

Eleven of the biggest banks in the country announced a $30 billion rescue package for First Republic Bank on Thursday, in an effort to prevent the...

Pornhub owner MindGeek purchased by private equity firm

Pornhub owner MindGeek purchased by private equity firm

Mar 16, 2023 / 12:47 pm

Private equity firm Ethical Capital Partners (ECP) is acquiring MindGeek, the owner of Pornhub. The terms of the transaction are not being publicly disclosed....

Some Canadian employers offer egg freezing as part of expanded fertility benefits

Some Canadian employers offer egg freezing as part of expanded fertility benefits

Mar 16, 2023 / 11:37 am

Tonya Johnson, 39, is single, happy and freezing her eggs to buy a little more time before she starts a family. The procedure is costly — as much as...

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