Tag: business news report

What to know about Manitowoc’s newest pedal bar. Plus, more business news in Streetwise.

MANITOWOC – Folks living on the lakeshore will have several options to get some exercise while sipping on their favorite beer or wine. Read on for more on that, and other area business news.

Tavern on Wheels pedals into town

The Manitowoc Tavern on Wheels.

The Manitowoc Tavern on Wheels.

The Manitowoc Tavern on Wheels is a new pedal-powered vehicle providing bike and beer tours. The bike bar can hold up to 14 rides and is open for May-October bookings.

There are three tour options: a downtown pedal to bars and restaurant locations, weekend tours to Manitowoc craft breweries; and on select Wednesdays, a Midweek

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First Republic shares surge as Yellen pledges support for US banks [Video]

Regional bank stocks rebounded Tuesday as Treasury Secretary Janet Yellen pledged further assistance to depositors if needed and a second attempted rescue of troubled San Francisco lender First Republic (FRC) took shape.

First Republic was up 43% this morning as of 10:50 am ET, just one day after plummeting 47% to its lowest-ever closing price. The March 10 failure of Silicon Valley Bank put First Republic under tremendous investor pressure, and an infusion last week of $30 billion in deposits from 11 other banks didn’t stop the slide.

One of those 11 banks, JPMorgan Chase (JPM), is now providing advice

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First Citizens Bank Charitable Foundation anounces donations

First Citizens Charitable Foundation, Inc. announced in a press release that 45 area organizations were the recipients of $149,950 in donations in December 2022 and January 2023.

Recipients include the following: Project Flo Association $2,000; Charles City Community Schools $1,000; Immaculate Conception School $2,000; Floyd County Historical Society $2,000; National 19th Amendment Society $5,000; Friends of Winnebago County Conservation Foundation, Inc. $5,000; YSS Francis Lauer $4,000; Mason City Fire Department $5,500; St. Ansgar Historic School Project (South Square) $1,000; Greater Iowa Youth For Christ $10,000; IOOF Home and Community Therapy Center $1,000; Grace Church $1,000; North Iowa Christian School $10,000;

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California court rules for Uber, Lyft in ride-hailing case – Business News

App-based ride hailing and delivery companies like Uber and Lyft can continue to treat their California drivers as independent contractors, a state appeals court ruled Monday, allowing the tech giants to bypass other state laws requiring worker protections and benefits.

The ruling mostly upholds a voter-approved law, called Proposition 22, that said drivers for companies like Uber and Lyft are independent contractors and are not entitled to benefits like paid sick leave and unemployment insurance. A lower court ruling in 2021 had said Proposition 22 was illegal, but Monday’s ruling reversed that decision.

“Today’s ruling is

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Fukushima plant head: Too early to predict decommissioning – Business News

The head of Japan’s wrecked Fukushima nuclear plant says details of the damage inside its reactors are only beginning to be known 12 years after it was hit by a massive earthquake and tsunami, making it difficult to foresee when or how its decommissioning will be completed.

The most pressing immediate task is to safely start releasing large amounts of treated but still radioactive water from the plant into the sea, Akira Ono said in an interview with The Associated Press.

The March 2011 earthquake and tsunami damaged cooling systems at the Fukushima Daiichi plant, causing

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Nordstrom closed all of its Canadian stores, cutting 2,500 jobs

“We do not see a realistic path to profitability for the Canadian business,” said the CEO

The Canadian Press

Tara Deschamps

Published March 02, 2023 • Last updated 1 week ago • 2 minute read

10 Comments

Shoppers take the escalators at a Nordstrom store in downtown Toronto. Nordstrom Inc. says it is winding down its Canadian operations and closing all of its stores in Canada.
Shoppers take the escalators at a Nordstrom store in downtown Toronto. Nordstrom Inc. says it is winding down its Canadian operations and closing all of its stores in Canada. Photo by Christopher Katsarov /THE CANADIAN PRESS

TORONTO — Nordstrom Inc. is closing all of its Canadian stores and cutting

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Nordstrom closing down in Canada, shuttering all 13 stores

Nordstrom Inc. says it is winding down its Canadian operations and closing all 13 of its stores in the country.

The company filed for protection from its creditors this week under the Companies’ Creditors Arrangement Act, a Canadian law that manages the orderly wind-down of businesses. CCAA is convinced to what’s known as “Chapter 11 bankruptcy” in the United States, and it is intended to enforce rules to ensure as many funds as possible get collected, to pay back creditors as equitably as possible

Nordstrom launched in Canada in 2014. The chain has six Nordstrom stores and seven Nordstrom Rack

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Bay Street Likely To Open Lower

Canadian shares are likely to open on a negative note on Monday, tracking lower crude oil prices and sluggish metal futures.

China setting a modest growth target of around 5% for this year, down from last year’s target of 5.5%, is likely to weigh on sentiment.

Cargojet Inc. (CJT.TO) reported fourth-quarter net income of $2.6 million (net income of $14.1 million excluding warrant valuation loss) compared to net gain of $102.0 million in 2021 (net income of $33.4 million excluding warrant valuation gain).

On the economic front, the Ivey Purchasing Managers Index score for the month of February is due

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