Business
Nuvei says Q1 revenue up 20%, but reports loss due to Paya acquisition costs
By The Canadian Press on May 10th, 2023
MONTREAL – Nuvei Corp. saw its first-quarter revenue rise 20 per cent compared with a year ago, but recorded a loss for the first three months of the year as it was hit by about US$20 million in costs related to its deal to buy U.S. company Paya Holdings Inc. The Montreal-based payment technology company, ... Read More »
Be the first to comment!Tim Hortons signs deal to start opening locations in South Korea later this year
By The Canadian Press on May 10th, 2023
TORONTO – Tim Hortons says the coffee and doughnut chain has signed a deal to open locations in South Korea starting later this year. The company says it has signed a master franchise agreement with BKR Co. Ltd. Financial terms of the agreement were not immediately available. BKR is the company that operates Burger King, ... Read More »
Be the first to comment!CBC resumes activity on some of its Twitter accounts after hitting pause over labels
By The Canadian Press on May 9th, 2023
The CBC and Radio-Canada are returning to Twitter after pausing activity last month over their designation as “government-funded media” by the social media platform. CBC News editor-in-chief Brodie Fenlon says in a blog post that it is resuming activity on a handful of umbrella accounts but will “significantly reduce” its overall Twitter footprint. In April, ... Read More »
Be the first to comment!Biden: Debt meeting ‘productive,’ default ‘not an option’
By Zeke Miller, Seung Min Kim, Josh Boak And Lisa Mascaro, The Associated Press on May 9th, 2023
WASHINGTON (AP) – President Joe Biden said he and congressional leaders had a “productive” meeting Tuesday on trying to raise the nation’s debt limit though no agreement was reached, and they will meet again Friday to try to avert the risk in weeks of an unprecedented government default. Speaking at the White House, Biden declared, ... Read More »
Be the first to comment!McCarthy: No movement on debt ceiling in Biden meeting
By Zeke Miller, Seung Min Kim, Josh Boak And Lisa Mascaro, The Associated Press on May 9th, 2023
WASHINGTON (AP) – House Speaker Kevin McCarthy said Tuesday after meeting with President Joe Biden and congressional leaders that he “didn’t see any new movement” toward ending a months-long impasse over raising the nation’s borrowing limit and averting a potential first-ever U.S. default. The president welcomed House Speaker Kevin McCarthy, House Democratic leader Hakeem Jeffries, ... Read More »
Be the first to comment!Canola industry concerned about export access to China after diplomatic spat
By The Canadian Press on May 9th, 2023
The canola industry is expressing concern that China will retaliate to Canada’s expulsion of its diplomat by blocking agricultural shipments. China blocked canola shipments from two major Canadian companies in 2019 not long after Huawei executive Meng Wanzhou was arrested by Canadian authorities, and the ban lasted for three years. The ban lasted for three ... Read More »
Be the first to comment!Riverbank erosion prompts Wisconsin band to ask for emergency shutdown of Line 5
By The Canadian Press on May 9th, 2023
WASHINGTON – An Indigenous band is asking a Wisconsin judge to order an emergency shutdown of the Line 5 pipeline. The Bad River Band of the Lake Superior Chippewa says ongoing spring flooding risks exposing and rupturing the pipeline on its territorial land. The band has asked District Court Judge William Conley, who is presiding ... Read More »
Be the first to comment!Great-West Lifeco sees net earnings drop, base earnings rise in first quarter
By The Canadian Press on May 9th, 2023
WINNIPEG – Great-West Lifeco Inc. says net earnings for its first quarter were $595 million, down more than 55 per centfrom $1.3 billion a year earlier. The Winnipeg-based insurer says base earnings for the quarter ended March 31 were $808 million, up more than 13 per cent from $712 million the same quarter a year ... Read More »
Be the first to comment!Biden, congressional leaders meet to avert default
By Zeke Miller, Seung Min Kim, Josh Boak And Lisa Mascaro, The Associated Press on May 9th, 2023
WASHINGTON (AP) – President Joe Biden and congressional leaders confronted each other Tuesday in their first face-to-face meeting aimed at averting an unprecedented U.S. government default. The president welcomed House Speaker Kevin McCarthy, House Democratic leader Hakeem Jeffries, Senate Majority Leader Chuck Schumer and Minority Leader Mitch McConnell in the Oval Office. Their initial challenge ... Read More »
Be the first to comment!Canada keeps close-mouthed but a close eye on standoff over U.S. debt limit
By James McCarten, The Canadian Press on May 9th, 2023
WASHINGTON – Canada’s federal government was watching closely and saying little Tuesday as a high-stakes race against the clock got underway in earnest at the White House, with the health of the global economy hanging in the balance. President Joe Biden met with congressional leaders, including Speaker Kevin McCarthy, his chief antagonist in a protracted ... Read More »
Be the first to comment!Hudson’s Bay cutting 250 corporate jobs amid efforts to ‘flatten’ company
By Brett Bundale, The Canadian Press on May 9th, 2023
Hudson’s Bay is laying off another 250 workers, the second round of cutbacks this year, the company said Tuesday, bringing the total number of employees laid off this year to about 500. The Canadian retail arm of Hudson’s Bay Co. said the layoffs are in corporate roles. None of the 2023 job losses have affected ... Read More »
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