Business
Uber legacy: Class-action lawsuit by taxi drivers against Quebec begins
By Jacob Serebrin, The Canadian Press on April 2nd, 2024
MONTREAL – A trial opens Tuesday in a class-action lawsuit accusing the Quebec government of wiping out hundreds of millions of dollars in the value of taxi permits by allowing ride-hailing company Uber to operate and then by abolishing the permit system. The government’s negligence led to the disguised expropriation of taxi licences – without ... Read More »
Be the first to comment!Donald Trump has posted a $175 million bond to avert asset seizure as he appeals NY fraud penalty
By Michael R. Sisak And Jennifer Peltz, The Associated Press on April 1st, 2024
NEW YORK (AP) – Donald Trump posted a $175 million bond on Monday in his New York civil fraud case, halting collection of the more than $454 million he owes and preventing the state from seizing his assets to satisfy the debt while he appeals, according to a court filing. A New York appellate court ... Read More »
Be the first to comment!Donald Trump posts $175 million in civil fraud case, halting collection of massive judgment
By Michael R. Sisak And Jennifer Peltz, The Associated Press on April 1st, 2024
NEW YORK (AP) – Donald Trump posted a $175 million bond on Monday in his New York civil fraud case, halting collection of the more than $454 million he owes and preventing the state from seizing his assets to satisfy the debt while he appeals, according to a court filing. A New York appellate court ... Read More »
Be the first to comment!Trump Media stock falls more than 21% after company discloses $58 million loss for 2023
By Wyatte Grantham-philips, The Associated Press on April 1st, 2024
NEW YORK (AP) – Less than a week after a flashy stock market debut, Donald Trump’s social media company on Monday disclosed that it lost nearly $58.2 million last year, sending its stock tumbling more than 21%. Losses in 2023 for Trump Media & Technology Group – whose flagship product is Truth Social – mark ... Read More »
Be the first to comment!Airlines, shippers pitch feds on boosting sustainable infrastructure funding
By Christopher Reynolds, The Canadian Press on April 1st, 2024
MONTREAL – Airlines and marine shippers have asked Ottawa to beef up funding for sustainable transport, money they hope will flow toward green supply chains and upgrades to existing infrastructure. Tax credits, loans and grants are essential to help companies reduce greenhouse-gas emissions and keep pace with other nations’ transportation networks, according to a pair ... Read More »
Be the first to comment!S&P/TSX composite nudges higher to new record close; commodity prices gain
By The Canadian Press on April 1st, 2024
TORONTO – Canada’s main stock index edged slightly higher to a new record close Monday, helped by commodity price gains that lifted the energy and mining sectors. The S&P/TSX composite index was up 18.22 points at 22,185.25. In New York, the Dow Jones industrial average was down 240.52 points at 39,566.85. The S&P 500 index ... Read More »
Be the first to comment!Interprovincial migration helps fuel tight Calgary housing market as inventory falls
By The Canadian Press on April 1st, 2024
CALGARY – The Calgary Real Estate Board says March home sales were up 9.9 per cent from last year as interprovincial migration to Alberta contributed to tight market conditions. The board says 2,664 units changed hands last month, while the benchmark price across all home types was $597,600 for March – up 10.9 per cent ... Read More »
Be the first to comment!HSBC Canada branches reopening under RBC brand with takeover complete
By The Canadian Press on April 1st, 2024
TORONTO – RBC is reopening HSBC Canada branches under its own brand on Monday after closing its takeover of the bank last week. Ahead of the deal closing, RBC said it would also be shuttering 25 of HSBC Canada’s roughly 130 branches as part of its optimization of its branch network. The $13.5-billion acquisition of ... Read More »
Be the first to comment!Donald Trump’s social media company lost $58 million last year. Freshly issued shares tumble
By The Associated Press on April 1st, 2024
NEW YORK (AP) – Less than a week after a flashy stock market debut, Donald Trump’s social media company is disclosing that it lost nearly $58.2 million in 2023. Losses in 2023 for Trump Media & Technology Group – whose flagship product is Truth Social – mark a stark decline compared with the profit of ... Read More »
Be the first to comment!Payment technology company Nuvei Corp. signs deal to be taken private
By The Canadian Press on April 1st, 2024
MONTREAL – Payment technology firm Nuvei Corp. says it has signed a deal to be taken private by Advent International, alongside existing Canadian shareholders Philip Fayer, Novacap and CDPQ. Under the agreement, shareholders will receive US$34 per share in cash in a deal that puts an enterprise value of US$6.3 billion on the company. Nuvei ... Read More »
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