world business news

WestJet shutting down discount airline Swoop

Posted on July 22, 2023

WestJet is shutting down its budget airline, Swoop. The company made the announcement in a news release Friday, noting that the ratification of its recent deal with its pilots allows it to integrate all of its staff at various airlines into a single banner. “As negotiated in the collective agreement, the WestJet Group will now begin integration efforts of its ultra-low-cost airline, Swoop,” the airline said. “Through an expedited process, the airline anticipates a full integration into its mainline operations by the end of October. To avoid traveler impact, Swoop will operate its existing network through to the end of…

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…

BoC debated waiting until July to hike rates

Posted on June 27, 2023

OTTAWA – The Bank of Canada’s governing council considered waiting until July to raise interest rates, but ultimately decided to act sooner in the face of hot economic data. The central bank released Wednesday its summary of deliberations for its June interest rate announcement, shedding light into the decision to raise its key interest rate by a quarter of a percentage point to 4.75 per cent. That’s the highest it’s been since 2001. The rate hike came after the central bank declared a pause earlier in the year, appearing cautiously optimistic that interest rates were high enough to quash inflation.…

Chile’s plan for state control in lithium dismays business

Posted on May 20, 2023

SANTIAGO, Chile (AP) — The Chilean government’s newly announced plan to have the state take a majority stake in the lithium industry disconcerted business leaders, though analysts cautioned that the proposal appears to try to strike a middle ground between competing interests. President Gabriel Boric announced in a national broadcast Thursday night that private companies will have to partner with the government in exploiting Chile’s lithium, a metal used to make rechargeable batteries. Boric said the state would take a controlling interest in each partnership, leading some to call it a nationalization of the industry, while others disagreed. “Phrising it…

Saskatchewan among the world’s top 3 regions for mining investment

Posted on May 9, 2023

Breadcrumb Trail LinksNews Executive Summary ExecutivesThree provinces make the top 10, according to Fraser InstitutePublished May 05, 2023 • Last updated 14 hours ago • 4 minute readAn employee of Sayona Quebec in front of a lithium deposit at the company’s North American Lithium Complex in La Corne, central Quebec. Photo by MATHIEU DUPUIS/SAYONA/AFP via Getty Images filesArticle content Saskatchewan is the world’s third-most attractive region for mining investment, topped only by Nevada and Western Australia, according to the Fraser Institute’s latest Annual Survey of Mining Companies.Advertisements 2This advertisement has not been loaded…

Berkshire Hathaway shareholder meeting takeaways: Warren Buffett’s remarks

Posted on May 7, 2023

Warren Buffett, chairman and CEO of Berkshire Hathaway, criticized the government’s intervention in recent bank failures, saying on Saturday it averted what could have become an even bigger crisis. Yet he said the US banking system had become too complicated — and it was not surprising that the banks failed. He said he’d been selling bank stocks, first at the start of the pandemic and more recently over the past six months as banks increasingly face mismanagement and respond to bad incentives. “The American public doesn’t understand their banking system — and some people in Congress don’t understand it anymore…

Tupperware shares tank as company warns it may go out of business

Posted on May 5, 2023

Shares in Tupperware have tumbled to their lowest level on record as the iconic food storage company warned investors that it is in danger of going out of business. The company’s stock price fell by 50 per cent on Monday after the company said in a press release over the holiday weekend that it has hired financial advisors to explore options for the company and to “remediate its doubts regarding its ability to continue as a going concern .” Shares in Tupperware had been on a downslope for years, as the company’s 77-year-old main business model of selling direct-to-consumers via…