Category: Business News

How Ryan Reynolds became Canada’s unlikeliest business mogul

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UPDATE: After this story was originally published, Wrexham Football Club — which Ryan Reynolds and actor Rob McElhenney bought in 2021 — qualified for the fourth tier of the English football league system. The business of Ryan Reynolds is booming. He bought into Montreal payment technology company Nuvei this week. He recently sold Mint Mobile for $1.7 billion. He offloaded his gin company for another $825 million. But the jewel in Reynolds’ business crown may be a floundering Welsh soccer club he bought with fellow actor Rob McElhenney in 2021 for $3 million. For years, Wrexham Football Club has been…

Chile’s plan for state control in lithium dismays business

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SANTIAGO, Chile (AP) — The Chilean government’s newly announced plan to have the state take a majority stake in the lithium industry disconcerted business leaders, though analysts cautioned that the proposal appears to try to strike a middle ground between competing interests. President Gabriel Boric announced in a national broadcast Thursday night that private companies will have to partner with the government in exploiting Chile’s lithium, a metal used to make rechargeable batteries. Boric said the state would take a controlling interest in each partnership, leading some to call it a nationalization of the industry, while others disagreed. “Phrising it…

Angry Fox News chief said fact-checks of Trump’s election lies ‘bad for business’ | FoxNews

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The top executive at Fox News was furious one of the network’s reporters was fact-checking Donald Trump’s false claims about the 2020 election, writing in a December 2020 email that it was “bad for business”. Suzanne Scott, the chief executive of Fox News, was responding in early December 2020 to an on-air fact-check by Eric Shawn, one of the network’s anchors. “This has to stop now,” she wrote to Meade Cooper, another Fox executive. “This is bad business and there is clearly a lack of understanding [sic] what is happening in these shows. The audience is furious and we are…

Tucker Carlson leaves Fox News days after Dominion lawsuit settlement

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April 24 (Reuters) – Fox News Media and its top-rated host Tucker Carlson have agreed to part ways, less than a week after parent company Fox Corp (FOXA.O) settled for $787.5 million a defamation lawsuit in which Carlson played a starring role roles. The outspoken Carlson embraced conservative issues and delivered his views with a style that made his prime-time show, “Tucker Carlson Tonight”, the highest-rated cable news program in the key 25-to-54 age demographic on the most-watched US cable news network. Shares of Fox closed 2.9% lower on the news, which the company announced on Monday. Dominion Voting Systems…

Jenny Craig bankrupt, will close down business in US and Canada

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After 40 years in business, Jenny Craig’s weight-loss chain has announced it is closing down in the US, Canada, and possibly several other markets around the world. Reports of the chain’s demise first emerged last week, when the chain was scrambling to come up with cash to cover a looming debt payment, and warning staff of major layoffs to come The business — which offers pre-made meals and coaching lessons to millions of people trying to lose weight — has roughly 500 franchises across the US and Canada, and more globally. It was founded by American entrepreneur Jenny Craig in…

Onex shareholders approve the plan to replace Gerry Schwartz as CEO

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business Shareholders of Onex Corp. have approved a change to its multiple-voting shares that will allow Gerry Schwartz to retain voting control of the company for another three years even as he officially steps down as chief executive. Schwartz will maintain voting control of the company he has led for 40 years until at least 2026 The Canadian Press · Posted: May 11, 2023 2:16 PM EDT | Last Updated: May 11 Gerry Schwartz is the only CEO in the history of Onex Corp. (Nathan Denette/Canadian Press) Shareholders of Onex Corp. have approved a change to its multiple-voting shares that…

Does Canada really need a digital loonie?

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The Bank of Canada is wading into the fraught and controversial world of digital currencies, launching public consultations this week into how Canadians might use a digital dollar. “We’ve been researching a digital dollar for quite a while now,” said Carolyn Rogers, the senior deputy governor of the central bank. “And we’re at a point where we need help from Canadians, we need to understand what Canadians want.” And yet the bank maintains there is neither a need nor a plan to launch a digital loonie. So, why bother with the public consultations at all? Rogers says more transactions are…

Facebook has 3 billion users – many of them are old – Business News

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Photo: The Canadian Press Facebook says it’s not dead. Facebook also wants you to know that it’s not just for “old people,” as young people have been saying for years. Now, with the biggest thorn in its side — TikTok — facing heightened government scrutiny amid growing tensions between the US and China, Facebook could, perhaps, position itself as a viable, domestic-bred alternative. There’s just one problem: young adults like Devin Walsh have moved on. “I don’t even remember the last time I logged in. It must have been years ago,” said Walsh, 24, who lives in Manhattan and works…