Business Buzz

Interest rate stays put
The Canadian Press - Mar 06, 2024 - Business Buzz

OTTAWA — The Bank of Canada brushed off questions about rate cuts as it held its policy rate at 5%, arguing inflation is still too high to justify lower borrowing costs. Governor Tiff Macklem, who held a news conference after the interest rate announcement on Wednesday, acknowledged that inflation has continued to ease and the […]

Government tackles poverty rates
The Canadian Press - Mar 05, 2024 - Business Buzz

VICTORIA — David Kennedy says his recent retirement came as a lifestyle shock, especially financially. The 67-year-old Nanaimo, B.C., man said he faced housing difficulties after retirement, and with the high cost of food and fuel, every month is financially challenging. The B.C. government introduced legislation Tuesday setting 10-year targets to substantially reduce poverty in […]

Bitcoin hits record high
The Canadian Press - Mar 05, 2024 - Business Buzz

TORONTO — Bitcoin briefly touched an all-time high Tuesday of more than US$69,000 before losing thousands of dollars of value within hours. The record high surpassed the level bitcoin previously hit in November 2021, before it fell below US$17,000 at the start of last year under pressure from rising interest rates and the downfall of […]

EU fines Apple $2 billion
The Canadian Press - Mar 04, 2024 - Business Buzz

LONDON — The European Union levelled its first antitrust penalty against Apple on Monday, fining the U.S. tech giant nearly $2 billion for unfairly favouring its own music streaming service by forbidding rivals like Spotify from telling users how they could pay for cheaper subscriptions outside of iPhone apps. Apple muzzled streaming services from telling […]

The Body Shop bankrupt
The Canadian Press - Mar 01, 2024 - Business Buzz

TORONTO — The Body Shop Canada Ltd. says it will close 33 stores and halt its e-commerce operations as it seeks to restructure under the Bankruptcy and Insolvency Act. The Canadian subsidiary of the international cosmetics brand announced Friday that it will immediately begin liquidating almost a third of its 105 stores. One of those […]

MPs want wireless answers
The Canadian Press - Feb 29, 2024 - Business Buzz

MPs have voted unanimously to summon the chief executives of Canada’s three largest telecommunications companies to testify at a federal committee as it studies the accessibility and affordability of wireless and broadband services. A motion put forward Wednesday at the House of Commons’ industry committee meeting by NDP MP Don Davies calls on Tony Staffieri, […]

Base metals drag down index
The Canadian Press - Feb 28, 2024 - Business Buzz

TORONTO — Canada’s main index moved lower Wednesday, led by weakness in base metals, while U.S. markets also continued to move down from last week’s highs. U.S. markets rose to record heights last week after another blowout earnings report from chipmaker Nvidia. “I think you’re just seeing things come a little bit off the highs, […]

Fast food riding AI wave
The Canadian Press - Feb 28, 2024 - Business Buzz

Fast food restaurants are diving deeper into the digital realm, adopting strategies that range from dynamic pricing to drive-thru voice bots and weather-based menu boards. Experts say the cutting-edge sales tactics have the potential to streamline service, lure new customers and fill in labour gaps amid high staff turnover, but they also warn the public […]

Wendy’s eyes surge pricing
The Canadian Press - Feb 27, 2024 - Business Buzz

Wendy’s is looking to test having the prices of its menu items fluctuate throughout the day based on demand, implementing a strategy that has already taken hold with ride-sharing companies and ticket sellers. During a conference call earlier this month, Wendy’s CEO Kirk Tanner said that the Dublin, Ohio-based burger chain will start testing dynamic […]

Grocery offers constantly evolve
The Canadian Press - Feb 26, 2024 - Business Buzz

When Diana Skakavac scrolls grocery store loyalty apps, she’s always looking for her “unicorn”: personalized offers for Tide laundry powder. “My grandma is a very strict user of the Tide powder. She always has me purchase that for her,” said the Toronto woman behind the Have Coupons Will Travel account on Instagram. “It has to […]