Business Buzz

WestJet activates no-frills fare
The Canadian Press - Jun 04, 2024 - Business Buzz

CALGARY — WestJet Airlines has replaced its basic ticket tier with a new fare category that does away with a free carry-on bag and other perks travellers once took for granted. The Calgary-based airline said Tuesday its new “UltraBasic category,” the lowest-priced of seven fare classes, is a no-frills fare. Travellers flying UltraBasic get pre-assigned […]

Streamers must pay into fund
The Canadian Press - Jun 04, 2024 - Business Buzz

OTTAWA — Online streaming services such as Netflix and Spotify are being told they must start contributing money toward local news and the production of Canadian content. On Tuesday, the Canadian Radio-television and Telecommunications Commission directed foreign streamers to pay 5% of their annual Canadian revenues into a fund. That fund will be devoted to […]

Rough start to week for index
The Canadian Press - Jun 03, 2024 - Business Buzz

TORONTO — Canada’s main stock index fell more than 150 points Monday, weighed down by losses in the energy sector as the price of oil sank, while U.S. stock markets were mixed. The S&P/TSX composite index closed down 152.43 points at 22,116.69. In New York, the Dow Jones industrial average was down 115.29 points at […]

Meme stocks rocking yet again
The Canadian Press - Jun 03, 2024 - Business Buzz

NEW YORK — Meme stocks are shaking Wall Street once again Monday. And, as is so usually the case, it all started online. A post on Reddit late Sunday indicated that Keith Gill, a central character in the original 2021 meme stock crack, had built a sizeable stake in GameStop. Shares of GameStop were up […]

Banks drive index boost
The Canadian Press - May 30, 2024 - Business Buzz

Canada’s main stock index differentiated itself from sliding U.S. markets Thursday, gaining more than 150 points on the back of better-than-expected quarterly results from Royal Bank and CIBC. The S&P/TSX composite index was up 173.73 points at 22,071.71, driven by gains in the financial sector, which climbed 1.89% in the day’s trading. The big winners […]

Divorce registries gain steam
The Canadian Press - May 30, 2024 - Business Buzz

NEW YORK — Monogrammed towels. A toothbrush holder for four, rather than three. Shared bedding. For people putting a life back together after divorce, mundane household objects can be painful marital reminders. Also difficult can be the absence of items that departed with the ex-spouse. Olivia Howell knows all too well how it felt, going […]

Mortage debt slows considerably
The Canadian Press - May 29, 2024 - Business Buzz

OTTAWA — Canada Mortgage and Housing Corp. says the country’s total residential mortgage debt totalled $2.16 trillion as of February this year, up 3.4% year over year and representing the slowest growth in 23 years. The federal housing agency said in a new report that higher mortgage costs and uncertainty around the Bank of Canada […]

Okanagan wineries sue utility
The Canadian Press - May 28, 2024 - Business Buzz

PORTLAND, Ore. — Dozens of Oregon wineries and vineyards have sued PacifiCorp over the deadly 2020 wildfires that ravaged the state, alleging that the utility’s decision to not turn off power during the Labor Day windstorm contributed to blazes whose smoke and soot damaged their grapes and reduced their harvest and sales. In the latest […]

Credit card balances balloon
The Canadian Press - May 28, 2024 - Business Buzz

Some Canadians are seeing their credit card balances grow as the cost-of-living crisis and higher interest rates eat into household budgets, a new report shows. A TransUnion report says the number of Canadians paying only the minimum amount on their credit cards was up eight basis points to 1.3% compared with last year. Matthew Fabian, […]

Postmedia sells newspapers
The Canadian Press - May 27, 2024 - Business Buzz

TORONTO — Postmedia Network Canada Corp. says it has signed a deal to sell the Winnipeg Sun, the Graphic Leader and Kenora Miner & News newspapers to Klein Group Ltd. Included in the transaction is Postmedia’s Winnipeg commercial print division, all associated digital properties, contracts and other related parts of the businesses. Financial terms of […]