Category: Business News

Richard Branson’s Virgin Orbit slashing 85% of its workforce – Business News

Virgin Orbit slashes jobs

The Associated Press – | Stories: 418880

Richard Branson’s Virgin Orbit is letting go of almost its entire work force with the satellite launch company finding it difficult to secure funding three months after a failed mission.

The company, headquartered in Long Beach, California, will cut 675 jobs, about 85% of its workforce, according to a Friday filing with the US Securities and Exchange Commission.

Earlier this month Virgin Orbit said that it was pausing all operations amid reports of possible job cuts. At the time

…
Read More

WestJet pilots to launch strike authorization vote as negotiations fizzle – Business News

Pilots to launch strike vote

The Canadian Press – | Stories: 418925

The union representing WestJet pilots says it will launch a strike authorization vote Monday as contract talks with management drag on.

Bernard Lewall, who heads the Air Line Pilots Association’s WestJet contingent, says

…
Read More

Top Republican takes on the Biden administration over new energy rules for mobile homes [Video]

Mon. Tim Scott (R-SC) is asking the Biden administration to delay new energy standards for mobile homes set to go into effect at the end of next month.

In a new letter to Energy Secretary Jennifer Granholm given exclusively to Yahoo Finance, Scott said “this costly and misguided regulation” will squeeze low-income Americans who will be “unfairly asked to bear the costs imposed by climate alarmists.”

The new rules require more insulation and energy-efficient windows, changes that will increase the costs of building the homes. But they will also save Americans hundreds of dollars on their electricity bills while also

…
Read More

Adidas decides to abandon the trademark complaint with Black Lives Matter

Sportswear maker Adidas AG on Wednesday reversed course 48 hours after asking the US Trademark Office to reject a Black Lives Matter application for a trademark featuring three parallel stripes.

“Adidas will withdraw its opposition to the Black Lives Matter Global Network Foundation’s trademark application as soon as possible,” the company said in a statement.

A source close to the company said the rapid about-turn was triggered by concerns that people could misinterpret Adidas’s trademark objection as criticism of Black Lives Matter’s mission.

Adidas had told the trademark office in a Monday filing that the Black Lives Matter Global Network

…
Read More

The Bank of Canada is ready to step in if the global financial crisis causes ‘spillovers’ to banks here

The Bank of Canada is ready to defend Canadian banks from a global financial meltdown if the current banking crisis in the US and Europe spills into Canada, but the central bank does not think they will have to step in.

Speaking on Wednesday at the National Bank Financial Services Conference, Bank of Canada deputy governor Toni Gravelle declared that the bank was “ready to act in the event of severe market-wide stress and provide liquidity support to the financial system.”

He specifically referred to the near-collapse of the British pension system last September following disruptive tax cuts by then

…
Read More

Twitter pulls check mark from main New York Times account

Twitter has removed the verification check mark on the main account of The New York Times, one of CEO Elon Musk’s most despised news organizations.

The removal comes as many of Twitter’s high-profile users are bracing for the loss of the blue check marks that help verify their identity and distinguish them from imposters on the social media platform.

Musk, who owns Twitter, set a deadline of Saturday for verified users to buy a premium Twitter subscription or lose the checks on their profiles. The Times said in a story Thursday that it would not pay Twitter for verification of

…
Read More

Spring housing market could bring a reckoning for realtors in Canada

Realtors’ fate depends on whether buyers and sellers return in force and how that will affect prices

Published March 30, 2023 • Last updated 1 day ago • 5 minute read

Industry observers have suggested the usually busy spring market might be the turning point that lures buyers and sellers back into the game, but that is hardly assured
Industry observers have suggested the usually busy spring market might be the turning point that lures buyers and sellers back into the game, but that is hardly assured. Photo by Cole Burston/Bloomberg

At the height of the COVID-19 pandemic, when many of her peers were binge watching Netflix shows, Toronto’s Sewit Tamene decided she would finish getting her real estate license, a

…
Read More

Rogers’ takeover of Shaw is approved, with conditions

The federal government has approved the multibillion-dollar merger of telecom companies Rogers and Shaw, but with conditions that Ottawa insists will make the deal good for consumers.

François-Philippe Champagne, minister of innovation, science and industry, said at a news conference Friday that the government has approved the transaction first proposed in 2021.

As part of the deal, the vast majority of Shaw’s wireless business, Freedom Mobile, will be sold to Quebec-based Videotron. While Freedom Mobile and its more than two million customers will move over to Videotron, Rogers will maintain a much smaller part of Shaw’s wireless business, known as

…
Read More