Business Buzz

Indigo ready to go private
The Canadian Press - May 27, 2024 - Business Buzz

TORONTO — Indigo Books & Music Inc. shareholders have voted to approve a deal that will have the retailer become a private company. Shareholders voted Monday in favour of a $2.50 per share offer from Trilogy Retail Holdings Inc. and Trilogy Investments L.P., which have a 56% stake in Indigo and are owned by Gerald […]

Index bounces back from loss
The Canadian Press - May 24, 2024 - Business Buzz

TORONTO — A broad-based rally helped Canada’s main stock index close up more than 100 points Friday to largely recover from losses a day earlier, while U.S. stock markets also climbed. The S&P/TSX composite index ended up 120.08 points at 22,320.87 to claw back much of the 146-point loss Thursday, though it was still down […]

Report eyes ‘excessive profits’
The Canadian Press - May 24, 2024 - Business Buzz

The federal government should consider policies to tackle “excessive net profits” in the food industry, said the House of Commons committee studying food prices in its latest report. The committee recommended the government look into ways to address these profits in “monopolistic and oligopolistic sectors in the food supply chain,” which it says are driving […]

NCAA ready to start paying
The Canadian Press - May 23, 2024 - Business Buzz

The NCAA and the nation’s five biggest conferences said Thursday night they have agreed to pay nearly $2.8 billion to settle a host of antitrust claims, a monumental decision that sets the stage for a groundbreaking revenue-sharing model that could start directing millions of dollars directly to athletes as soon as the 2025 fall semester. […]

US government sues Live Nation
The Canadian Press - May 23, 2024 - Business Buzz

WASHINGTON — The Justice Department sued Ticketmaster and its parent company Thursday, accusing them of running an illegal monopoly over live events in America and asking a court to break up the system that squelches competition and drives up prices for fans. Filed in federal court in Manhattan, the sweeping antitrust lawsuit was brought with […]

No carry-on fare coming
The Canadian Press - May 22, 2024 - Business Buzz

CALGARY — WestJet Airlines has plans to soon introduce a new cheaper fare category that would be available to travellers willing to fly without a carry-on bag. CEO Alexis von Hoensbroech said the new fare category will be introduced within “a couple of weeks.” He told a Calgary business audience Wednesday that the new “ultra-low” […]

Loblaw boycott extended
The Canadian Press - May 21, 2024 - Business Buzz

The organizers of a month-long boycott of Loblaw-owned stores say they’ve decided to extend it past May. After a Reddit group created to vent and talk about high grocery prices attracted tens of thousands of members, plans formed for a 31-day boycott of Canada’s largest grocer. In a press release sent by organizer Emily Johnson […]

Boeing invests in Quebec
The Canadian Press - May 21, 2024 - Business Buzz

MONTREAL — Boeing Co. pledged $240 million toward a Montreal-area aerospace cluster, anchoring a provincial plan that aims to make Quebec a global launchpad for development of drones and greener aircraft. The beleaguered plane maker’s commitment comprises a big chunk of the $415 million in contributions from the private sector and the province toward an […]

Big finish to week for index
The Canadian Press - May 17, 2024 - Business Buzz

TORONTO — Canada’s main stock index rose on Friday, helped by gains in energy and base metal stocks as the prices of oil and copper climbed, while U.S. markets were mixed. Markets drifted Friday after a week that saw Wall Street hit new highs with relief over the latest inflation figures. The Dow closed above […]

Rough ride for US bike shops
The Canadian Press - May 17, 2024 - Business Buzz

For U.S. bicycle shops, the past few years have probably felt like the business version of the Tour de France, with numerous twists and turns testing their endurance. Early in the pandemic, a surge of interest in cycling pushed sales up 64% to $5.4 billion in 2020, according to the retail tracking service Circana. It […]