News/Business (Page 52)

Business Statistics Canada says spending by Canadian households helped the economy grow at an annualized rate of 1.7 per cent in the first three months of the year. Economists say this may increase odds of Bank of Canada interest rate cut The Canadian Press · Posted: May 31, 2024 9:48 AM EDTContinue Reading

Business A U.S. bankruptcy judge on Thursday approved WeWork’s Chapter 11 bankruptcy plan, allowing the shared office space provider to eliminate $4 billion in debt and hand the company’s equity over to a group of lenders and real estate technology company Yardi Systems. Co-working company used bankruptcy to renegotiate rentContinue Reading

Business The Bank of Montreal says online banking services are restored for customers after a technical problem overnight. Service disruption began due to a false fire alarm at one of its data centres, bank says Jenna Benchetrit · CBC News · Posted: May 30, 2024 9:29 AM EDT | Last Updated:Continue Reading

Business Mortgage debt is growing at its slowest pace in 23 years — but that could be short-lived, says CMHCMortgage debt grew at its slowest pace in 23 years in February, amid high borrowing costs and reservations related to the Bank of Canada’s key interest rate — but the slowdown likely won’tContinue Reading

Business As Nissan issues a ‘do not drive’ warning for 48,000 vehicles in Canada — and urges car owners to get their recalled vehicles repaired — here’s what you need to know to know about Canada’s recall system, and how to ensure that your car isn’t overdue for a safetyContinue Reading

Business The federal Competition Bureau says it’s going to look the domestic air travel industry in Canada, and it’s looking for input from Canadians as it prepares for a study of that market over the coming months. Having only 2 major airlines and flight prices are key concerns for federalContinue Reading

Business Indigo Books & Music Inc. shareholders have voted to approve a deal that will see the retailer become a private company. Rationale is to avoid ‘public reporting responsibilities,’ said expert in FebruaryThe Canadian Press · Posted: May 27, 2024 2:40 PM EDT | Last Updated: May 27 Indigo BooksContinue Reading

Business Canada’s Competition Bureau has launched investigations into the parent companies of grocery chains Loblaws and Sobeys for alleged anti-competitive conduct, court documents reveal, with Sobeys’ owner calling the inquiry ‘unlawful.’ Commissioner claims grocery giants’ lease agreements designed to restrict other potential tenants Loblaw Cos. Ltd. and Sobeys parent EmpireContinue Reading

Business Days after Red Lobster filed for Chapter 11 bankruptcy and announced that it would close dozens of its seafood restaurants, the chain’s Canadian counterpart will ask a Canadian court to enforce the U.S. bankruptcy in Canada, CBC News has learned. Chain filed for Chapter 11 bankruptcy in the U.S.Continue Reading