Tag: small business blogs australia

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

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…

Does Canada really need a digital loonie?

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Does Canada really need a digital loonie?
Business News
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…

Second Nature Brands hires Chris Caswell as CFO

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Second Nature Brands hires Chris Caswell as CFO
Business News
DETROIT — Second Nature Brands, a better-for-you brand acquired by CapVest Partners LLP last April, has named Chris Caswell as its new chief financial officer. Before joining Second Nature Brands, Mr. Caswell was CFO at Welch Foods Inc. for four years. Previously, Mr. Caswell held positions at retail company Clarks Americas, academic intervention company Resiliency for Life and beverage company Keurig Green Mountain, Inc. “We are delighted to welcome Chris to Second Nature Brands,” said Victor Mehren, chief executive officer of Second Nature Brands. “He is a leader of the highest caliber with extensive financial and operational experience with a…

Electricity bills may continue to shock you even as overall inflation eases. Here’s why.

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Electricity bills may continue to shock you even as overall inflation eases. Here’s why.
Business News
While price hikes for gas, furniture, electronics and clothes are slowing down after a long stretch of sharp gains, one costly item isn’t expected to get cheaper anytime soon: electricity. Economists say consumers should expect their electric bills to continue rising at a fast pace as liquefied natural gas, a key fuel for generating electricity, remains in short supply in the US and companies’ operating costs rise. Average US electricity prices could rise at a 10% clip again this year and possibly next, predicts Mark Wolfe, director of the National Energy Assistance Directors Association, even though economists have forecast overall…

How the Shein influencer trip marked a turning point in the brand-sponsored vacation trend

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How the Shein influencer trip marked a turning point in the brand-sponsored vacation trend
Business News
Several influencers were lambasted this week for social media posts enthusiastically highlighting a trip sponsored by the Chinese fast fashion clothing retailer Shein, which has previously been accused of labor exploitation and environmentally damaging practices. A since-deleted video posted by Dani Carbonari, who in her Instagram bio refers to herself as a content creator, plus-sized model and confidence activist, shows her arriving at a facility she calls the “Shein Innovation Centre” in Ghangzhou, China, last week. “Shein is just such a developed and complex company, and it was so beautiful to see first hand,” Carbonari said in the video. Referring…

Facebook to end news access in Canada over incoming law on paying publishers

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Facebook to end news access in Canada over incoming law on paying publishers
Business News
CNN —Meta Platforms Inc plans to end access to news on Facebook and Instagram for all users in Canada once a parliament-approved legislation requiring internet giants to pay news publishers comes into effect, the company said on Thursday.The legislation, known as the Online News Act, was approved by the Senate upper chamber earlier on Thursday and will become law after receiving royal assent from the governor general, a formality.The legislation was proposed after complaints from Canada’s media industry, which wants tighter regulation of tech companies to prevent them from elbowing news businesses out of the online advertising…