Business
FTC: Facebook misled parents, failed to guard kids’ privacy
By Barbara Ortutay, The Associated Press on May 3rd, 2023
U.S. regulators say Facebook misled parents and failed to protect the privacy of children using its Messenger Kids app, including misrepresenting the access it provided to app developers to private user data. As a result, The Federal Trade Commision on Wednesday proposed sweeping changes to a 2020 privacy order with Facebook – now called Meta ... Read More »
Be the first to comment!S&P/TSX composite down as price of oil drops below US$70 per barrel
By The Canadian Press on May 3rd, 2023
TORONTO – Canada’s main stock index was lower in late-morning trading, weighed down by losses in the energy stocks as the price of oil fell below US$70 a barrel, while U.S. stock markets were mixed. The S&P/TSX composite index was down 11.58 points at 20,395.98. In New York, the Dow Jones industrial average was down ... Read More »
Be the first to comment!Vehicle sales still below pre-pandemic levels in April: DesRosiers
By The Canadian Press on May 3rd, 2023
RICHMOND HILL, Ont. – DesRosiers Automotive Consultants says light vehicle sales in April were still below pre-pandemic levels, at 144,069 units compared with 180,616 in April 2019. Sales in April were also slightly below March, and up just 2.3 per cent from a year earlier. DesRosiers managing partner Andrew King says in a statement that ... Read More »
Be the first to comment!Loblaw calls out ongoing ‘outsized’ price hikes from big brand-name food companies
By Brett Bundale, The Canadian Press on May 3rd, 2023
Canada’s largest grocer says its product costs have risen by nearly $1 billion so far this year – double the historic norm – as it continues to to see “outsized” price increases from big multinational food brands. Loblaw Companies Ltd. said Wednesday the cost hikes appear out of sync with the commodity cost environment, and ... Read More »
Be the first to comment!Bell to offer free messaging for Aeroplan members on Air Canada flights
By The Canadian Press on May 3rd, 2023
MONTREAL – Bell is teaming up with Air Canada to offer free messaging for all Aeroplan members worldwide on Wi-Fi-equipped airplanes across the airline’s fleet. The telecommunications giant will be Air Canada’s sponsor of inflight Wi-Fi services starting May 15. The partnership will allow passengers to send and receive messages on apps such as Apple’s ... Read More »
Be the first to comment!Canfor reports $142M Q1 loss compared with a profit a year ago
By The Canadian Press on May 3rd, 2023
VANCOUVER – Canfor Corp. reported a loss in its first-quarter compared with a profit a year ago as its lumber operations in Western Canada faced lower prices. Canfor chief executive Don Kayne says it was another challenging quarter for the company’s lumber business. The Vancouver-based forestry company says strong earnings from its European operations and ... Read More »
Be the first to comment!Brazil police search Bolsonaro’s home, seize his phone
By Carla Bridi, The Associated Press on May 3rd, 2023
BRASILIA, Brazil (AP) – Brazil’s Federal Police searched former President Jair Bolsonaro’s home on Wednesday and seized his phone, according to an official who spoke on condition of anonymity. The official, who wasn’t authorized to speak publicly, said that Bolsonaro will be deposed at Federal Police headquarters and also confirmed that one of his closest ... Read More »
Be the first to comment!Loblaw Companies reports $418M Q1 profit, raises quarterly dividend 10%
By The Canadian Press on May 3rd, 2023
BRAMPTON, Ont. – Loblaw Companies Ltd. raised its dividend 10 per cent as it reported a profit available to common shareholders of $418 million for its first quarter. The parent company of Loblaws and Shoppers Drug Mart says it will now pay a quarterly dividend of 44.6 cents per share, up from 40.5 cents per ... Read More »
Be the first to comment!Barrick Gold reports US$120M Q1 profit, down from US$438M a year ago
By The Canadian Press on May 3rd, 2023
TORONTO – Barrick Gold Corp. reported its first-quarter profit fell compared with a year ago as its revenue also moved lower. The gold miner, which keeps its books in U.S. dollars, says its profit attributable to equity holders amounted to US$120 million or seven cents per diluted share for the quarter ended March 31, down ... Read More »
Be the first to comment!Doug Putman launching home retailer in former Bed Bath & Beyond, buybuy BABY stores
By The Canadian Press on May 3rd, 2023
TORONTO – Canadian retail sector investor Doug Putman is opening a new home store retailer in 21 former Bed Bath & Beyond and buybuy BABY locations across Canada. Putman, known for buying struggling retailers like Toys “R” Us and HMV, said in a press release Wednesday he’s launching a store called rooms + spaces, hiring ... Read More »
Be the first to comment!GTA housing market showing signs of tightening: Toronto real estate board
By Tara Deschamps, The Canadian Press on May 3rd, 2023
Toronto’s housing market continued to tighten last month as prices edged up four per cent from March and sales moved closer to the level they were at last April, the Toronto Regional Real Estate Board revealed Wednesday. Sales for the month hit 7,531, down 5.2 per cent from a year ago but up about nine ... Read More »
Be the first to comment!
