CRA asks Shopify for Canadian business records: CEO

CRA asks Shopify for Canadian business records: CEO

Shopify CEO Tobias Lutke is ready to put up a “fight” over what he describes as an “overreach” by the Canada Revenue Agency (CRA). In a tweet, Lutke said the Ottawa-based e-commerce company was asked to hand over tax records of more than 121,000 Canadian stores from the last six years. “I don’t particularly want a fight with the CRA (Canada’s tax authority)- but we got asked to backchannel them 6 years of records for all Canadian Shopify stores,” Lutke tweeted on Friday. “This feels like low-key overreach to me. We will fight this.” CTVNews.ca has reached out to Shopify…
So you gave personal info to a company caught in a data breach.  Now what?

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

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…
Petro-Canada payment problems continue, but the company says it’s ‘making progress’ on fixing

Petro-Canada payment problems continue, but the company says it’s ‘making progress’ on fixing

Petro-Canada says the nearly weeklong problems that customers have experienced with things like payment and loyalty programs at the gas station chain are ongoing, but it is making progress on solving them. Problems at the company started about a week ago, when on Friday reports suggested that parent company Suncor had been hacked. Over the weekend, Suncor acknowledged it had experienced a “cybersecurity incident” and stressed that while it was confident that no customer or employee data had been stolen, “some transactions with customers and suppliers may be impacted.” One of the first places where such disruptions were found was…
What’s opening and what’s closing?  Check out Center County business news from June

What’s opening and what’s closing? Check out Center County business news from June

A new fireworks store opened just in time for July Fourth and plans were announced for a new donut shop and hotel. Here’s a roundup of Center County business news in June. What’s opening Wholesale Fireworks is now open at 2000 E. College Ave., the former Sheetz near Lemont. Jessica McAllister/[email protected] Owners Jon and Meredith Houser announced plans to open Bellefonte Brick Studio, an independent Lego store, on July 1 at 104 N. Allegheny St. The store’s hours are 10 am to 6 pm Tuesday-Saturday. Dunkin’ will open a second downtown State College location this fall. The donut chain plans…
Instant Brands, maker of Instant Pot and Pyrex cookware, files for bankruptcy

Instant Brands, maker of Instant Pot and Pyrex cookware, files for bankruptcy

The company that makes kitchen staples like CorningWare, Pyrex and the Instant Pot has entered bankruptcy proceedings in the US and Canada. Illinois-based Instant Brands said Monday that it has “initiated a voluntary court-supervised Chapter 11 process,” due to an unmanageable debt load. “Tightening of credit terms and higher interest rates impacted our liquidity levels and made our capital structure unsustainable,” CEO Ben Gadbois said in a news release. In court filings, the company says it generated operating cash flows of just $17.9 million US in the first three months of the year. That relatively large figure is a sharp…
How student loans keep some people trapped in debt

How student loans keep some people trapped in debt

When Samuel Bonne received $15,000 in student grants to fund his studies, he wasn’t expecting to have to pay it back. But just two years later — in the middle of the pandemic — those grants were converted to loans. At the end of his sophomore year at the University of Toronto, the Ontario Student Assistance Program (OSAP) asked Bonne, originally from Mauritius, for his parents’ financial documents, but they couldn’t provide them. “My dad works in Kenya and my mom doesn’t work,” said Bonne. “So I ended up having $15,000 in loans that I did not know about.” Bonne,…
Here’s why the PGA Tour just merged with LIV Golf

Here’s why the PGA Tour just merged with LIV Golf

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…
AbCellera draws 0 million in government funding – Business News

AbCellera draws $300 million in government funding – Business News

Photo: Nelson Bennett. Francois-Philippe Champagne, Canadian minister of Innovation, Science and Industry, was in Vancouver Wednesday announcing $225 million in federal funding for AbCellera. Federal and provincial officials announced $300 million in funding today for the new $700 million biotech campus built by AbCellera (Nasdaq:ABCL )in Mount Pleasant. AbCellera has emerged as one of BC’s most successful biotech companies. The company’s prospects are worried during the COVID-19 pandemic because it makes the therapeutic antibodies used in the development of drugs used to treat COVID-19. Its antibodies have been used to treat more than 2.5 million patients. The company landed a…