Business News

Port union warns Ottawa to ‘stay out of our business,’ as strike talks fail to reach a deal

Posted on July 17, 2023

Negotiators trying to end a strike by more than 7,000 port workers in BC failed to reach a deal Sunday as the union representing striking workers warned Ottawa to refrain from interfering. Port workers across BC walked off the job Saturday morning in a wide-ranging job action that could impact worldwide shipping and the Canadian economy. On Sunday afternoon, the International Longshore and Warehouse Union (ILWU) warned Ottawa against contemplating back-to-work legislation or imposing a contract, saying it would shatter “labor peace” in the province. The strike affected about 7,400 terminal cargo loaders and 49 of the province’s waterfront employers…

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

Posted on July 16, 2023

this week in business The Canadian Press – Jul 10, 2023 / 6:24 am | Stories: 436107Photo: The Canadian Press Bank of Canada Governor Tiff Macklem.Five things to watch for in the Canadian business world in the coming week: MTY earnings MTY Food Group Inc. will release its second-quarter results and hold a conference call with investors before financial markets open on Tuesday. MTY franchises and operates restaurants under more than 85 different banners in Canada, the United States and internationally. Aritzia results Aritzia Inc. will release its first-quarter results and hold a conference call with investors after…

As Canadian cities make pandemic patios permanent, experts call for clear standards – Business News

Posted on July 15, 2023

Photo: The Canadian Press A server clears a table on a patio at a restaurant, in Vancouver, on Friday, April 2, 2021. COVID-19 showed Canadian cities the benefits of extended patio programs for businesses and citizens, but experts say cities in the middle of transitioning to permanent versions of temporary policies are undermining pandemic-spurred improvements. THE CANADIAN PRESS/Darryl DyckAt the height of social distancing and other restrictions related to the COVID-19 pandemic, many Canadian cities rolled out temporary patio policies, loosening rules and waiving fees for bars and restaurants looking to seat more customers outdoors. These programs brought a…

Transat AT signs deal to sell property in Mexico to Finest Resorts for US$38 million – Business News

Posted on July 14, 2023

Transat to sell property The Canadian Press – Jul 10, 2023 / 9:50 am | Stories: 436138Photo: The Canadian PressTransat AT Inc. says it has sold a piece of land in Mexico to resort company Finest Resorts for US$38 million. The travel company says the sale is part of its plan to focus on its airline business as it tries to return to profitability after more than three years of losses. Transat noted it announced in 2018 that it bought the land as part of the development of a hotel subsidiary which it discontinued in 2021. It says…

So you gave personal info to a company caught in a data breach. Now what?

Posted on July 13, 2023

Hacks, ransomware attacks and data breaches seem to be in the news more and more often — and many people are getting alerts that their information has been compromised in the process. Just this week, Petro-Points members learned an unauthorized party had obtained their basic contact information, such as mailing and email addresses, phone numbers and dates of birth. Petro-Canada sent an email to its customers to watch out for unusual emails and messages as a result. In February, a ransomware attack on Indigo compromised the data of current and former employees. And late last year, thousands of people in…

Meta’s Threads is now the fastest-growing platform after 100 million users signed up in the first five days

Posted on July 12, 2023

Meta’s Twitter rival Threads crossed 100 million sign-ups within five days of launch, CEO Mark Zuckerberg said on Monday, dethroning ChatGPT as the fastest-growing online platform to hit the milestone. Threads have been setting records for user growth since its launch on Wednesday, with celebrities, politicians and other newsmakers joining the platform seen by analysts as the first serious threat to the Elon Musk-owned social media app. “That’s mostly organic demand, and we haven’t even turned on many promotions yet,” Zuckerberg said in a Threads post announcing the milestone. The app’s sprint to 100 million users was much faster than…

Merger talks between Postmedia and Toronto Star owner fall apart

Posted on July 11, 2023

Talks to combine two of the biggest newspaper publishers in Canada have fallen apart. Postmedia Network Canada Corp. and Nordstar Capital LP — the majority owner of The Toronto Star and dozens of other smaller newspapers under the Metroland banner — announced late last month that they had entered non-binding discussions about possibly merging. The framework of the proposed merger would have seen Postmedia transfer its dozens of newspaper titles over to Metroland, with voting control of the new entity split 50-50 between the two sides. But on Monday, the two sides announced that those talks had broken down, that…

Overstock.com buys rights to Bed Bath & Beyond

Posted on July 9, 2023

NEW YORK – Bed & Bath & Beyond will live on, online at least, after Overstock.com acquired the bankrupt retail chain’s intellectual property assets for $21.5 million. The online retailer Overstock.com is dumping its name online and will become Bed & Bath & Beyond, which declared bankruptcy earlier this year. Overstock.com’s CEO Jonathan Johnson told The Associated Press in a phone interview on Thursday that the company is considering changing its corporate name but won’t make any decisions until after it digests the assets. The switcheroo to a very familiar brand was cheered on Wall Street. Shares of Overstock.com Inc.,…