Tag: business news stories

BC port strike hurting hundreds of small businesses: CFIB

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Business News
Breadcrumb Trail Links Transportation Small Business News entrepreneur economy Critical shipments getting caught up in the dispute, small businesses say Get the latest from Naimul Karim straight to your inbox Signup Published July 11, 2023 • 3 minute read An empty pallet at the Port of Vancouver. More than half of small businesses surveyed by CFIB say the strike at British Columbia’s ports is impacting their operations. Photo by Jason Payne/PNG Article content As the strike at the ports of British Columbia stretches into its 11th day, more than half of 1,400 Canadian small business owners surveyed by the Canadian…

Canada’s economy grew by more than expected in the first quarter, upping the odds of the rate hike next week

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The Canadian economy grew at an annualized rate of 3.1 per cent in the first quarter of 2023, Statistics Canada reported Wednesday. The latest data shows growth beating out the federal agency’s own forecast of 2.5 per cent for the quarter. A preliminary estimate suggests the economy grew by 0.2 per cent in April, after remaining flat in March. The ongoing resilience in the economy will likely spur discussions of a potential rate hike, as the Bank of Canada is expected to make its next interest rate announcement next week. The relatively strong GDP showing investors had increasing the odds…

Prices, digital growth benefits Walmart

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Business News
BENTONVILLE, ARK. — Lower prices compared to competitors and convenience brought about through digital capabilities lifted Walmart US to same-store sales growth of 7% in the first quarter ended April 30. The growth was due to higher store traffic trends as well as growth in store-fulfilled pickup and delivery, said John D. Rainey, chief financial officer, in a May 18 earnings call. “From a category perspective, comp sales were driven by strong growth in food and health and wellness, partially offset by a decline in general merchandise sales,” he said. E-commerce sales increased 27% in the United States when compared…