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Updated: 1 hour 23 min ago

Canada Post reports $153M loss in 2019 amid rising parcel competition

Thu, 05/21/2020 - 08:52

Canada Post lost $153 million before taxes last year as intense e-commerce competition slowed growth of its parcel business and an ongoing shift toward online communication prompted mail operation declines.

Lightspeed POS sees 70% revenue jump in 4th quarter

Thu, 05/21/2020 - 07:11

Lightspeed POS Inc. says it lost $18.6 million US in its latest quarter and revenue increased 70 per cent compared with a year ago as demand for its e-commerce offerings soared in the wake of the pandemic.

Nearly 39 million people have sought U.S. jobless aid since pandemic began

Thu, 05/21/2020 - 06:13

More than 2.4 million people applied for U.S. unemployment benefits last week in the latest wave of layoffs from the virus outbreak that triggered widespread business shutdowns two months ago and sent the economy into a deep recession.

Shopify unveils new tools including tip jar for selling online during COVID-19

Wed, 05/20/2020 - 12:38

Entrepreneurs who are struggling to keep their businesses alive amid the demands of COVID-19 or feel underserved by the country's financial institutions are about to get a helping hand from Shopify Inc.

2 Americans arrested in connection with ex-Nissan chief Carlos Ghosn's escape from Japan

Wed, 05/20/2020 - 08:40

U.S. authorities on Wednesday arrested a former Green Beret and his son who are accused of helping former Nissan Motor Co. Chairman Carlos Ghosn flee Japan while he awaited trial on financial misconduct charges.

Canada's inflation rate turned negative in April for first time since 2009

Wed, 05/20/2020 - 06:13

Canada's inflation rate fell to -0.2 per cent in April, as the COVID-19 pandemic pushed down consumer prices to their lowest level in more than a decade.

Morgan Stanley expanding further into Canada with new wealth management service

Wed, 05/20/2020 - 06:00

The company will add more jobs in Calgary and Toronto.

Johnson & Johnson to stop selling talc-based baby powder in North America

Wed, 05/20/2020 - 04:34

Johnson & Johnson is ending sales of its iconic talc-based Johnson's Baby Powder in the U.S. and Canada, where demand has dwindled amid thousands of lawsuits claiming it has caused cancer.

V, W, U or L? Here's what kind of shape Canada's economy will be in coming out of COVID-19

Wed, 05/20/2020 - 01:00

The COVID-19 pandemic has so far spelled doom for Canada's economy, and the future looks anything but certain. What will happen next is anyone's guess, but economists think the path forward will probably look like one of a few familiar shapes.

Retailer Pier 1 to permanently shut down, close all 540 stores in U.S. and Canada

Tue, 05/19/2020 - 13:22

After trying to restructure itself and find a buyer for months, U.S. retail chain Pier 1 announced Tuesday that it will wind down operations and close all 540 of its remaining stores.

U.S. airlines taking more reservations, slowly plotting return of some routes

Tue, 05/19/2020 - 10:05

Two top U.S. airlines said on Tuesday ticket cancellations were slowing and demand was showing some signs of improvement, with Southwest Airlines Co. recording more trip reservations than cancellations so far this month.

Facebook fined $9 million over Canadian privacy concerns

Tue, 05/19/2020 - 09:59

Facebook has been ordered to pay a $9-million penalty after making "false or misleading claims about the privacy of Canadians' personal information," according to a news release from the Competition Bureau.

Montreal-based fashion retailer Reitmans seeks creditor protection for its 576 stores across Canada

Tue, 05/19/2020 - 07:01

Women's fashion retailer Reitmans is asking a Canadian court to grant it protection from its creditors while it restructures, the latest retail victim of the COVID-19 pandemic.

Taxpayers will be on the hook later for today's COVID-19 largesse: Don Pittis

Tue, 05/19/2020 - 01:00

While now may not be the time, at some point soon governments around the world will have to face up to how they're going to pay for all their COVID-19 largesse.

Robots and electrostatic sprayers: Air travel industry looks to technology to bring back wary passengers

Tue, 05/19/2020 - 01:00

Technology could play a major role in trying to lure passengers back as airports and airlines prepare for a return to travel in the wake of the coronavirus pandemic, with some sci-fi-like approaches possible to help them feel safer in the sky.

U.S. stock markets move sharply higher on COVID-19 optimism

Mon, 05/18/2020 - 13:14

U.S. stocks bounced back from their worst week in nearly two months Monday as optimism about a potential vaccine for the coronavirus and hopes for an economic recovery in the second half of the year put investors in a buying mood.

Oil price back up above $30 a barrel for first time since COVID-19 struck

Mon, 05/18/2020 - 11:32

The price of a barrel of the North American crude oil benchmark topped $30 for the first time since the middle of March on tentative signs that people are starting to drive again amid the COVID-19 pandemic.

Biden says he'd cancel Keystone XL pipeline permit if elected

Mon, 05/18/2020 - 11:17

In a potential death blow to the Keystone XL pipeline, Joe Biden's campaign says he'd cancel a key permit if he's elected president in November. That statement from the likely Democratic nominee suggests the long-stalled pipeline could be quashed if he wins.

Here's what tourism after COVID-19 could look like, according to G Adventures

Mon, 05/18/2020 - 06:08

G Adventures founder Bruce Poon Tip hopes the COVID-19 pandemic makes both travellers and tourism companies change their ways for the better.

Why some think Canada's beef business needs more smaller players

Mon, 05/18/2020 - 01:00

As big meat plants deal with outbreaks of COVID-19, industry observers, the National Farmers Union and some smaller players within the sector are asking whether Canada needs a greater number of smaller-scale processors to keep the industry strong.

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