Business Buzz


Company saves Sports Illustrated
The Canadian Press - 4:44 pm - Business Buzz

Sports Illustrated will continue operations after the company that owns the brand agreed with a new publisher for its print and digital products. Minute Media took over on Monday after reaching a licensing agreement with Authentic Brands Group. On Jan. 19, Authentic announced that it was revoking The Arena Group’s publishing licence after Arena failed […]

Bosses say telecom prices down
The Canadian Press - 1:35 pm - Business Buzz

OTTAWA — The chief executives of Canada’s three largest telecom companies stressed that phone and internet prices are coming down during an appearance before MPs on Monday, citing increased data usage, high spectrum costs and regulatory conditions as some reasons Canadians may feel otherwise. The three CEOs—Rogers Communications Inc.’s Tony Staffieri, BCE Inc.’s Mirko Bibic […]

Apple pays nearly half billion
The Canadian Press - Mar 15, 2024 - Business Buzz

Apple has agreed to pay $490 million to settle a class-action lawsuit alleging CEO Tim Cook misled investors about a steep downturn in iPhone’s sales in China that culminated in a jarring revision to the company’s revenue forecast. The preliminary settlement filed Friday in Oakland, California, federal court stems from a shareholder lawsuit focused on […]

Solar eclipse big business
The Canadian Press - Mar 15, 2024 - Business Buzz

NEW YORK — Eclipse-themed beer. Jewelry and ornaments. And doughnuts that capture the sun’s disappearing act with the help of buttercream frosting. With April 8’s total solar eclipse right around the corner, businesses are ready for the celestial event that will dim skies along a generous path across North America. There are oodles of special […]

Markets fall across continent
The Canadian Press - Mar 14, 2024 - Business Buzz

TORONTO — Telecom, financial and utilities stocks led Canada’s main stock index down on Thursday even as the price of oil rose, while U.S. markets eased lower as well after several economic reports. The S&P/TSX composite index closed down 140.26 points at 21,829.85. In New York, the Dow Jones industrial average was down 137.66 points […]

Renters simply can’t save
The Canadian Press - Mar 14, 2024 - Business Buzz

TORONTO — Renters face daunting barriers in their attempts to build wealth as they’re forced to devote an increasing share of their income to keeping a roof over their head, said an RBC report Thursday. The report by economist Carrie Freestone adds to a growing body of research painting a stark picture of the wealth […]

Energy sector sparks index
The Canadian Press - Mar 13, 2024 - Business Buzz

TORONTO — Strength in the energy sector helped lead Canada’s main stock index higher on Wednesday, while U.S. stock markets were mixed. The S&P/TSX composite index closed up 139.09 points at 21,970.11, with the energy index rising 1.7%. U.S. oil inventories were lower, driving oil prices higher, said Jennifer Tozser, senior wealth adviser and portfolio […]

Consolidation quells airfare wars
The Canadian Press - Mar 13, 2024 - Business Buzz

MONTREAL — After entertaining new entrants for several years, Canada’s airline market is once again on the path to consolidation, raising the likelihood of higher fares and fewer flight options. Since May, newer low-cost carriers Swoop and Lynx Air have disappeared from the skies and WestJet has scooped up Sunwing Airlines. The latter two alone […]

Markets edge up slightly
The Canadian Press - Mar 11, 2024 - Business Buzz

TORONTO — Canada’s main stock index posted a small gain Monday after starting the day lower, while U.S. markets were mixed. Markets started the day lower in part because of weakness in semiconductor stocks, said Greg Taylor, chief investment officer at Purpose Investments. That’s after Nvidia, one of the biggest U.S. stocks and a major […]

Oil pipelines will fill quickly
The Canadian Press - Mar 11, 2024 - Business Buzz

CALGARY — After being hamstrung for years by a lack of export capacity, Canada’s oil industry will have reason to celebrate when the much-anticipated Trans Mountain pipeline expansion comes online, expected to be sometime this spring. But the party may be short-lived, as the more-than-$30-billion pipeline is expected to quickly fill up, returning Canada’s oil […]