Tag business current events

Transat to sell property The Canadian Press – Jul 10, 2023 / 9:50 am | Stories: 436138 Photo: The Canadian Press Transat 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…

Photo: The Canadian Press While most consumers believe in rewarding companies that accurately deliver on sustainability promises, a new study suggests their trust is lacking in the “green” claims made by brands. The report released Thursday by Deloitte Canada on creating value from sustainable products said Canadians expect sustainable buying options and crave transparency with respect to the claims brands make. It found that in September 2021, nearly half of Canadian consumers had purchased at least one sustainably produced good or service in the previous four weeks. But by March 2023, that figure had declined to 37 per cent. While…

Canada Bread has agreed to pay at least $50 million for its role in fixing the price of bread for years. The company made the revelation in an Ontario court on Wednesday, acknowledging that under a previous management regime, it colluded with its competitors in Canada’s bakery industry to work in unison to raise the wholesale prices they charge to grocery chains, pushing up prices for consumers in the process. The company — which makes dozens of brands of baked goods, including Dempster’s, Stonemill, Vachon and others — has been owned by Mexican food giant Grupo Bimbo since 2014, but…

At first glance, the response of “sold over asking” real estate signs may seem like an encouraging signal for the Canadian economy, especially for highly invested homeowners who have watched prices fall from last year’s highs. But a growing number of economists worry that a recent series of indicators, the latest being Wednesday’s rise in Canadian retail sales, may instead be a red flag for central bankers, leading them to more rate hikes that could ultimately make many Canadians feel miserable. With each new smidgen of optimistic data, money market traders point to a rising chance that central bankers will…

WestJet to absorb Swoop The Canadian Press – Jun 9, 2023 / 11:37 am | Stories: 431105 Photo: The Canadian Press A passenger boards a WestJet Encore Bombardier Q400 twin-engined turboprop aircraft in Kamloops, Saturday, June 3, 2023. WestJet and Swoop pilots ratified their collective agreement after a bargaining process that saw the threat of a strike snarl many Canadians’ long weekend plans. THE CANADIAN PRESS/Jeff McIntosh WestJet says it will wind down its Swoop brand by late October as it integrates the budget carrier’s operations into its main banner. The move comes after ratification of a new collective agreement…

The PGA Tour announced Tuesday it would merge with LIV Golf, a Saudi-backed men’s golf organization that formed last year to compete with the PGA. News of the merger sent shock waves through the sports world and even reached the highest echelons of the US government, after a reporter sought comment from the Biden administration about the Saudi government’s taking such a large stake in men’s golf. Biden spokeswoman Karine Jean-Pierre declined to comment. Here’s what it all means. What is LIV Golf? LIV was created in 2022 by Saudi Arabia’s Public Investment Fund (PIF) alongside two of the world’s…

DETROIT — Second Nature Brands, a better-for-you brand acquired by CapVest Partners LLP last April, has named Chris Caswell as its new chief financial officer. Before joining Second Nature Brands, Mr. Caswell was CFO at Welch Foods Inc. for four years. Previously, Mr. Caswell held positions at retail company Clarks Americas, academic intervention company Resiliency for Life and beverage company Keurig Green Mountain, Inc. “We are delighted to welcome Chris to Second Nature Brands,” said Victor Mehren, chief executive officer of Second Nature Brands. “He is a leader of the highest caliber with extensive financial and operational experience with a…

ORLANDO, FL. — SNAX-Sational Brands, a producer of flavored popcorn snacks, is partnering with Post Consumer Brands to launch Cereal Pop popcorn made with Fruity Pebbles. SNAX-Sational currently has two other lines of popcorn, Cookie Pop and Candy Pop, that each feature partnerships with notable companies in their respective sectors. The Fruity Pebbles partnership is the first product in SNAX-Sational’s new Cereal Pop brand. Like the Cookie Pop and Candy Pop brands, Cereal Pop is made using non-GMO corn and comes in at 150 calories per serving. Currently available at Sam’s Club in 20-oz “Club Size” bags, the all-new Cereal…