News/Business (Page 56)

Business Peloton CEO Barry McCarthy is stepping down, the company said on Thursday, as it announced a 15 per cent cut to its global workforce due to a post-pandemic slump in demand for its connected fitness equipment. Demand for Peloton’s equipment has remained weak as customers cut back spendingThomson Reuters ·Continue Reading

Business A new ride-hailing app promising fair pay to drivers is launching today, starting in the Toronto area, to take on Uber and Lyft. The company believes it will attract drivers by paying them 100 per cent of fares and charging only a membership fee to work for the service.Continue Reading

Business The U.S. Federal Reserve held interest rates steady on Wednesday and signaled it is still leaning toward eventual reductions in borrowing costs, but that cuts could be delayed as recent inflation numbers have strayed further from its two per cent target. Some economists say U.S., Canada to diverge further on monetary policy thanContinue Reading

Business Loblaw Companies reported $13.58 billion in first-quarter revenue — a 4.5 per cent increase from a year earlier — on Wednesday morning, the same day that a group of frustrated shoppers said they would begin a month-long boycott of the grocery retailer. Company says it’s ‘acutely aware’ that it has to winContinue Reading

Business The Canadian economy grew 0.2 per cent in February, with gains made in transportation and warehousing, Statistics Canada said on Tuesday. January growth was helped by rebound after public sector strike ended in Quebec Jenna Benchetrit · CBC News · Posted: Apr 30, 2024 8:42 AM EDT | LastContinue Reading

Business It was predicted that the all-self-checkout format would eventually become the norm. But, instead, several big box chains in Canada and the U.S. continue to ditch self-checkout machines at a number of their stores. Some experts and retailers say, in many cases, theft is the main culprit. Giant TigerContinue Reading

Federal efforts to bring “open banking” to Canada are being welcomed by players in the industry — but there’s also criticism that, after years of waiting, any changes may not come fast enough to encourage innovation or allow smaller financial players compete with larger institutions. Open banking lets consumers or business customers share personal andContinue Reading

Business·Marketplace CBC’s Marketplace rounds up the consumer and health news you need from the week. Consumer and health news you need from the week Jenny Cowley · CBC News · Posted: Apr 28, 2024 8:00 AM EDT | Last Updated: 7 hours ago Derek Crocker stands in front of aContinue Reading

Business Canada’s poverty rate rose to 9.9 per cent in 2022, approaching pre-pandemic levels as government financial benefits introduced during the COVID-19 crisis ended, according to a Statistics Canada report released Friday. Food insecurity numbers are ‘sickening’ but not surprising, says researcher Jenna Benchetrit · CBC News · Posted: AprContinue Reading