Business
GM lays off ‘small percentage’ of Canadian workers amid software job cuts
By The Canadian Press on August 19th, 2024
General Motors says it is laying off some workers in Canada as part of a wider reduction in staff affecting more than 1,000 salaried employees worldwide. The automaker says the layoff affects its software and services units, including a “small percentage” of employees in its Canadian Technical Center. Jennifer Wright, executive director of communications at ... Read More »
Be the first to comment!A look at recent major railway strikes at CN Rail and CPKC
By The Canadian Press on August 19th, 2024
Canada has an active history of rail strikes dating back to at least the early 20th century. Here are some of the most recent job actions at the country’s two main freight railways, Canadian National Railway Co. and Canadian Pacific Kansas City Ltd., formerly known as CP Rail, as the clock ticks down to a ... Read More »
Be the first to comment!July flash floods in Toronto, southern Ontario caused over $940M in insured damage
By The Canadian Press on August 19th, 2024
TORONTO – Initial estimates put the total insured damage caused by flash flooding in Toronto and other parts of southern Ontario in July at more than $940 million. Torrential rain hit Toronto and the surrounding area in July and flooded major highways and Union Station, a key transit hub. The estimate by Catastrophe Indices and ... Read More »
Be the first to comment!Circle K owner makes a play for global convenience store giant 7-Eleven
By Tara Deschamps, The Canadian Press on August 19th, 2024
A dominating convenience store chain could land in Canadian hands after the owner of Circle K offered to buy one of the sector’s biggest players, laying the groundwork to potentially unite them in a mammoth global retail business. Seven & i Holdings Co. Ltd., which is headquartered in Japan and owns 7-Eleven, said it received ... Read More »
Be the first to comment!Work stoppage at CN, CPKC would be ‘devastating’ for small businesses: CFIB
By Christopher Reynolds, The Canadian Press on August 19th, 2024
MONTREAL – A potential work stoppage at Canada’s two major railways this week would harm small companies – from mom-and-pop shops to outfits with scores of workers – the Canadian Federation of Independent Business says. “Any disruptions to railway operations could be devastating for small businesses, their employees and communities,” Jasmin Guenette, the group’s head ... Read More »
Be the first to comment!Montreal water main showed corrosion in years before break, official says
By Maura Forrest, The Canadian Press on August 19th, 2024
Montreal city officials knew the major water main that burst last week was showing signs of damage, but thought there was still time before it needed to be repaired, the head of the city’s water service said Monday. Chantal Morissette told reporters the city noticed the pipe was deteriorating during an inspection in 2017 or ... Read More »
Be the first to comment!Couche-Tard makes a play for global convenience store giant 7-Eleven
By Tara Deschamps, The Canadian Press on August 19th, 2024
Alimentation Couche-Tard Inc. could be on the verge of dominating the world’s convenience store market after it offered to buy one of the sector’s biggest players. Japan’s Seven & i Holdings Co. Ltd., which owns 7-Eleven, said it received a non-binding offer from Laval, Que.-based Couche-Tard to acquire all outstanding shares. Seven & i owns ... Read More »
Be the first to comment!Cause of water main break that flooded Montreal neighbourhood remains unclear: mayor
By The Canadian Press on August 19th, 2024
MONTREAL – The mayor of Montreal says the cause of a major water main break Friday morning near the city’s Jacques Cartier Bridge remains unknown. Valérie Plante says 50 buildings were flooded when millions of litres of water erupted onto city streets, and 16 households have asked the Red Cross for emergency housing. She says ... Read More »
Be the first to comment!Statistics Canada says median family after-tax income in 2022 down after inflation
By The Canadian Press on August 19th, 2024
OTTAWA – Statistics Canada says the median family after-tax income in 2022 fell compared with 2021, after adjusted for inflation, with young people being the hardest hit. The agency says the median family after-tax income of Canadians was $60,800 in 2022, up 2.5 per cent from 2021. But after adjusting for an annual rate of ... Read More »
Be the first to comment!Too many people, not enough management: A look at the chaos of ‘overtourism’ in the summer of 2024
By Laurie Kellman, The Associated Press on August 19th, 2024
SINTRA, Portugal (AP) – The doorbell to Martinho de Almada Pimentel’s house is hard to find, and he likes it that way. It’s a long rope that, when pulled, rings a literal bell on the roof that lets him know someone is outside the mountainside mansion that his great-grandfather built in 1914 as a monument ... Read More »
Be the first to comment!US settles with billionaire Carl Icahn for using company to secure personal loans worth billions
By Michelle Chapman, The Associated Press on August 19th, 2024
Billionaire Carl Icahn and his company were charged by U.S. regulators with failing to disclose personal loans worth billions of dollars that were secured using securities of Icahn Enterprises as collateral. Icahn and his company have agreed to pay $1.5 million and $500,000 in civil penalties, respectively, to settle the charges, the Securities and Exchange ... Read More »
Be the first to comment!
