Tag: business news today

Business News

Canada’s inflation value cools to 7%, nonetheless meals prices are nonetheless climbing

4 min read

Canada’s inflation value cooled to seven per cent in August, Statistics Canada acknowledged Tuesday.

Economists had been anticipating the pace to return again in at 7.3 per cent, after inflation rose to a 40-year extreme of 8.1 per cent earlier this summer time season.

As a substitute, the pace decelerated by far more than anticipated, largely because of gasoline acquired inexpensive in the midst of the month.

Gasoline prices fell by 9.6 per cent in August from the place they’d been the sooner month. That is the biggest one-month drop in gasoline prices since April 2020, when the pandemic was

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Business News

Local news is good for business | Commentary

4 min read

It’s no secret that recently years have been tough on small businesses and on newspapers. A bipartisan bill, the Community News & Small Business Support Act, that has been introduced in Congress would offer relief to both newspapers and local businesses.

For too many newspapers help can’t come soon enough.

Economic challenges have resulted in too many communities seeing their local newspapers being forced to lay off staff, cut back on publication days or — worse yet — close. On average, two newspapers are closing each week. That hurts local businesses and residents in the long (and short) run. However,

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Business News

Nearly 2,400 stores are closing across the US in 2023. Here’s the full list.

5 min read
Store closing signs at a checkout counter of a Bed Bath and Beyond.

Bed Bath & Beyond closed 896 stores in 2023.Ben Tobin

  • More than a dozen major retailers have said they will close US stores in 2023, a combined total of 2,373 locations.

  • Amazon, Bath & Body Works, Walmart, and Foot Locker are among the chains shutting down stores.

  • Bed Bath & Beyond closed 896 locations amid bankruptcy — the most of any retailer on the list.

It’s not exactly the retail apocalypse of prior years, but it’s still a shakeup.

An Insider tally of announcements by major retailers in 2023 finds as many as 2,373 stores set to close across

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Business News

Petro-Canada payment problems continue, but the company says it’s ‘making progress’ on fixing

5 min read

Petro-Canada says the nearly weeklong problems that customers have experienced with things like payment and loyalty programs at the gas station chain are ongoing, but it is making progress on solving them.

Problems at the company started about a week ago, when on Friday reports suggested that parent company Suncor had been hacked. Over the weekend, Suncor acknowledged it had experienced a “cybersecurity incident” and stressed that while it was confident that no customer or employee data had been stolen, “some transactions with customers and suppliers may be impacted.”

One of the first places where such disruptions were found was

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Business News

As Canadian cities make pandemic patios permanent, experts call for clear standards – Business News

6 min read

At the height of social distancing and other restrictions related to the COVID-19 pandemic, many Canadian cities rolled out temporary patio policies, loosening rules and waiving fees for bars and restaurants looking to seat more customers outdoors.

These programs brought a

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Business News

Canadian economy steady in April as real GDP remains unchanged – Business News

1 min read

Economy holds steady

The Canadian Press – | Stories: 434570

Statistics Canada says the Canadian economy remained essentially unchanged in April, following a slight uptick in March.

The federal agency’s advance estimate suggests real gross domestic product grew 0.4 per cent in May, led by the manufacturing and wholesale trade sectors.

The April figure came in lower than expected by Statistics Canada as services-producing industries were unchanged while goods-producing industries edged up 0.1 per cent.

The Canadian economy is largely expected to stall in the latter half of this year

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Business News

Apple became the first company to have a market cap topping $3 trillion

2 min read

Apple’s market cap topped $3 trillion on Friday, as shares rose about 1% to a new high and passed the $190.73 price required to hit the milestone, according to CNBC’s most recent share count.

Apple was the first company to hit a $3 trillion market cap during intraday trading in January 2022, but it failed to close at that level. It has another shot to do that on Friday.

It shows investors remain bullish on the stock and Apple’s portfolio of products and services, despite the company’s warning in May that its current quarter revenue is expected to fall about

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Business News

Fake online reviews: US proposes bans

2 min read

WASHINGTON –

US federal regulators are looking to crack down on fake reviews and other deceptive internet practices.

The Federal Trade Commission proposed a new rule Friday that would ban paying for reviews, suppressing honest reviews, selling fake social media engagement and more. Businesses would also be prohibited from running company-controlled websites that claim to be independent, and other deceptive practices like “review hijacking,” which makes reviews for one product appear like they were written for significantly different ones.

If the proposed rule is approved, following a 60-day public comment period, violators could face hefty penalties.

“Our proposed rule on

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