Tag: “business news

Do I Need an Emergency List?

We frequently have questions related to the practical and financial panic after a death in the family when accounts, passwords, and assets are unknown. Sometimes, a family knows an estate plan was done but they cannot find the plan and don’t even know the law firm that drafted the plan. An emergency list can help to avoid these issues.

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We often see people lose their spouse, and have no idea

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New York Community Bank to buy failed Signature Bank – Business News

Failed bank purchases

The Canadian Press – | Stories: 416923

New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the Federal Deposit Insurance Corp.

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Company planning to make COVID vaccine in Canada warns it could fold

Novavax lost more than $600 million last year

The Canadian Press

Jacob Serebrin

Published March 02, 2023 • Last updated Mar 02, 2023 • 3 minute read

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Scientists examine a step in the vaccine purification process
Scientists examine a step in the vaccine purification process as they design updates to Novavax’s COVID-19 shots at the company’s research laboratory in Gaithersburg, Md. Photo by Angie Wang/The Associated Press

MONTREAL — An American company that signed a deal with the federal government to produce COVID-19 vaccines in Montreal has warned investors it could go out of business

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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

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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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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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Boeing Halts Delivery Of 787 Dreamliners

Boeing Co. temporarily stopped deliveries of its 787 Dreamliners as directed by the Federal Aviation Administration, pending an additional analysis on a fuselage component, reports said.

The FAA stated that the company cannot resume deliveries of the plane, which was halted earlier too to a series of manufacturing flaws until the agency is satisfied that the issue has been addressed. However, the aerospace and defense major will continue its production, and the company doesn’t expect the issue to require additional work on the 787s.

Boeing noted that the near-term deliveries will be impacted, but it does not anticipate a change

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What Russia’s economic resilience means for the war in Ukraine

Since the Russian invasion of Ukraine nearly a year ago, attempts have been made to clobber its economy.

Russian businesses have been cut off from the vast tracts of the Western world. Its oligarchs have been sanctioned and had their yachts seized. And yet, by almost every measure, the Russian economy has weathered the last year much better than almost anyone expected.

“There are clear signs of a slowdown in the Russian economy,” said Desjardins principal economist Marc Desormeaux. “But things are not quite as bad as feared when this conflict erupted.”

Beyond the staggering human costs of the war,

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Bed Bath & Beyond Canada is going out of business, closing 54 stores

Bed Bath & Beyond’s Canadian operations are going out of business, according to a court filing on Friday, two days after the retailer quickly raised cash to stave off a US bankruptcy.

The Canadian division, which operates 54 Bed Bath & Beyond stores and 11 buybuy BABY stores, is insolvent, the filing posted on the consultancy website Alvarez & Marsal showed. Alvarez & Marsal has been appointed as a monitor of the business in the Canadian court case.

The Canadian business does not have the “capacity or ability to independently effect a recapitalization or restructuring of the Canadian operations without

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