Tag: business news today

Important team and business changes

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Important team and business changes
Business News
Team – We are changing the shape of Shopify significantly today to pay unshared attention to our mission. There are a number of consequences to this, and I don’t want to bury the lede: after today Shopify will be smaller by about 20% and Flexport will buy Shopify Logistics; this means some of you will leave Shopify today. I recognized the crushing impact this decision had on some of you, and did not make this decision lightly. In the next 5 minutes you’ll get a follow up that tells you if you are affected. There’s no way to make this…

Toronto homeowners’ cost of living costs almost 60%

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Toronto homeowners’ cost of living costs almost 60%
Business News
Breadcrumb Trail LinksNewsCanada’s biggest city isn’t just expensive for homeowners. Renters’ costs have suffered 22%Published May 01, 2023 • Last updated 23 hours ago • 4 minute readCosts for Toronto homeowners have skyrocketed 58 per cent since last year. Photo by Ernest Doroszuk/Toronto Sun/PostmediaArticle contentFinancial Post Top Stories Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc. By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe…

Slideshow: New products from the Winter Fancy Food Show

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Slideshow: New products from the Winter Fancy Food Show
Business News
LAS VEGAS — The 2023 Winter Fancy Food Show saw more than 1,100 exhibitors showcase their newest products Jan. 15-17 in Las Vegas. The $175 billion specialty food industry homes in on consumers looking for premium products, often made in small batches. This year, the Specialty Food Association’s Trendspotter Panel predicted an interest in bold and intense flavor experiences, specifically within the sauce and condiment categories. “What began in the hot sauce category is exploding into honey, spreads, confections, beverages, and snacks, snagging new markets like younger consumers, especially, and inspiring specialty food companies to introduce heat and spice into…

Meta’s Threads is now the fastest-growing platform after 100 million users signed up in the first five days

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Meta’s Threads is now the fastest-growing platform after 100 million users signed up in the first five days
Business News
Meta’s Twitter rival Threads crossed 100 million sign-ups within five days of launch, CEO Mark Zuckerberg said on Monday, dethroning ChatGPT as the fastest-growing online platform to hit the milestone. Threads have been setting records for user growth since its launch on Wednesday, with celebrities, politicians and other newsmakers joining the platform seen by analysts as the first serious threat to the Elon Musk-owned social media app. “That’s mostly organic demand, and we haven’t even turned on many promotions yet,” Zuckerberg said in a Threads post announcing the milestone. The app’s sprint to 100 million users was much faster than…

Study suggests Canadians lack trust in brands’ sustainability claims – Business News

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Study suggests Canadians lack trust in brands’ sustainability claims – Business News
Business News
Photo: The Canadian PressWhile most consumers believe in rewarding companies that accurately deliver on sustainability promises, a new study suggests their trust is lacking in the “green” claims made by brands. The report released Thursday by Deloitte Canada on creating value from sustainable products said Canadians expect sustainable buying options and crave transparency with respect to the claims brands make. It found that in September 2021, nearly half of Canadian consumers had purchased at least one sustainably produced good or service in the previous four weeks. But by March 2023, that figure had declined to 37 per cent. While…

Canada Bread agrees to $50M fine for role in bread price-fixing scandal

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Canada Bread agrees to M fine for role in bread price-fixing scandal
Business News
Canada Bread has agreed to pay at least $50 million for its role in fixing the price of bread for years. The company made the revelation in an Ontario court on Wednesday, acknowledging that under a previous management regime, it colluded with its competitors in Canada’s bakery industry to work in unison to raise the wholesale prices they charge to grocery chains, pushing up prices for consumers in the process. The company — which makes dozens of brands of baked goods, including Dempster’s, Stonemill, Vachon and others — has been owned by Mexican food giant Grupo Bimbo since 2014, but…