Tag: business news magazine

Instant Brands, maker of Instant Pot and Pyrex cookware, files for bankruptcy

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Instant Brands, maker of Instant Pot and Pyrex cookware, files for bankruptcy
Business News
The company that makes kitchen staples like CorningWare, Pyrex and the Instant Pot has entered bankruptcy proceedings in the US and Canada. Illinois-based Instant Brands said Monday that it has “initiated a voluntary court-supervised Chapter 11 process,” due to an unmanageable debt load. “Tightening of credit terms and higher interest rates impacted our liquidity levels and made our capital structure unsustainable,” CEO Ben Gadbois said in a news release. In court filings, the company says it generated operating cash flows of just $17.9 million US in the first three months of the year. That relatively large figure is a sharp…

Air Canada briefly grounds flights due to computer system problem – Business News

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Air Canada briefly grounds flights due to computer system problem – Business News
Business News
Glitch grounds flights The Canadian Press – May 25, 2023 / 11:06 am | Stories: 428570Photo: The Canadian Press Air Canada planes sit on the tarmac at Pearson International Airport in Toronto on Wednesday, April 8, 2020. THE CANADIAN PRESS/Nathan DenetteAir Canada briefly grounded its planes Thursday due to a problem with its computer system. The airline says a technical issue with the system it uses to transmit messages to aircraft and monitor their performance, prompted a halt to operations. Airline spokesman Peter Fitzpatrick said the temporary order was precautionary, and that the system is returning to normal.…

Google, Meta executives push back against Canada online news bill

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Google, Meta executives push back against Canada online news bill
Business News
[1/2] A Google logo is displayed at the entrance to the internet based company’s offices in Toronto, Ontario, Canada September 9, 2018. REUTERS/Chris HelgrenTORONTO, May 3 (Reuters) – Google and Meta would withdraw access to news articles in Canada if legislation compelling internet companies to pay news publishers is passed, company executives told Canadian lawmakers on Wednesday. Canada’s proposed legislation would force platforms like Google parent Alphabet Inc (GOOGL.O) and Facebook parent Meta Platforms Inc (META.O) to negotiate commercial deals and pay Canadian news publishers for their content, part of a broader global trend to make tech firms pay…

Chile’s plan for state control in lithium dismays business

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Chile’s plan for state control in lithium dismays business
Business News
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…

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

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Facebook has 3 billion users – many of them are old – Business News
Business News
Photo: The Canadian PressFacebook 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…

Delivering Search Personalization With (User) Intent

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Delivering Search Personalization With (User) Intent
Business News
When it comes to online shopping, search personalization is more important today than ever before. If in 2019 about 60% of shoppers expected to get personalized search results, in 2020 that number increased to 80%. A recent McKinsey report shows that today’s customers don’t just prefer a personalized shopping experience — they demand it. In 2023, relevance is the name of the game. Search personalization is the basis of positive brand perception, customer engagement and customer loyalty. Shoppers expect to only see relevant results. It’s no longer acceptable to respond to a given query by bombarding the user with generic…

Strong consumer interest seen in Mondelez snacking survey

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Strong consumer interest seen in Mondelez snacking survey
Business News
CHICAGO — Rising costs and economic setbacks haven’t been enough to deter strong consumer interest in snacking, according to Mondelez International, Inc.’s fourth annual State of Snacking report. The report, released Jan. 16, analyzed global consumer snacking habits and decisions. Overall, the report revealed a maintained interest in snacking that continues to increase. Like in the 2021 report, 64% of consumers continue to prioritize snacking throughout the day over standard mealtimes. Another continued trend is mindful snacking, but this year with an emphasis on environmental consciousness versus 2021’s concern with nutrition and functionality. The annual State of Snacking report is…