Tag: today’s business news headlines

CRA asks Shopify for Canadian business records: CEO

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CRA asks Shopify for Canadian business records: CEO
Business News
Shopify CEO Tobias Lutke is ready to put up a “fight” over what he describes as an “overreach” by the Canada Revenue Agency (CRA). In a tweet, Lutke said the Ottawa-based e-commerce company was asked to hand over tax records of more than 121,000 Canadian stores from the last six years. “I don’t particularly want a fight with the CRA (Canada’s tax authority)- but we got asked to backchannel them 6 years of records for all Canadian Shopify stores,” Lutke tweeted on Friday. “This feels like low-key overreach to me. We will fight this.” CTVNews.ca has reached out to Shopify…

ZoomerMedia announces acquisition of The Peak Canada’s

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ZoomerMedia announces acquisition of The Peak Canada’s
Business News
TORONTO, June 08, 2023 (GLOBE NEWSWIRE) — ZoomerMedia Limited (TSXV: ZUM) (“ZoomerMedia”) announces that it has completed the acquisition of all the outstanding shares of The Peak Media Collective Inc. (PMCs). Founded in 2020, The Peaks serves busy Canadian professionals and business leaders with the top global business, finance, and tech stories of the day packaged in a smart, fast, and easily digestible format. The aggregate purchase price of $5 million is comprised of $3.5 million cash on closing and a $1.5 million promissory note. The Peaks‘s flagship daily newsletter covers the biggest Canadian and global business stories and has…

How Ryan Reynolds became Canada’s unlikeliest business mogul

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How Ryan Reynolds became Canada’s unlikeliest business mogul
Business News
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…

Tucker Carlson leaves Fox News days after Dominion lawsuit settlement

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Tucker Carlson leaves Fox News days after Dominion lawsuit settlement
Business News
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…

Food storage brand Tupperware warns it could go out of business

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Food storage brand Tupperware warns it could go out of business
Business News
Legendary food storage brand Tupperware has hired advisers to help turn around the company after notifying securities regulators it may have to close up shops. In a release dated April 7, the Orlando, Florida-based company announced it was seeking to improve its capital structure in order to “remediate its doubts regarding its ability to continue as a going concern.” That same day, Tupperware issued a going-concern notice after warning it could be heading for a default if its lenders demand payment to maintain access to the company’s main line of credit. “If such demand for repayment was to occur, the…

New food processing center to open in Kansas City

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New food processing center to open in Kansas City
Business News
KANSAS CITY — West Liberty, Iowa-based West Liberty Foods and Dakota Dunes, SD-based Vertical Cold Storage will partner on a 327,000-square-foot food processing center and supporting cold storage facility, according to the Kansas City Area Development Council. The two companies expect to invest a combined $199.6 million in the project. The facilities will be directly connected and create 583 jobs, with $39.7 million in payroll. “We are thrilled to have the opportunity to expand our signature protein offerings with our new premade grab-and-go sandwich program,” said Brandon Achen, chief executive officer of West Liberty Foods. “Based on its proximity to…

The Bank of Canada hikes interest rates again — and there may be more to come

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The Bank of Canada hikes interest rates again — and there may be more to come
Business News
The Bank of Canada decided to raise its benchmark interest rate to 4.75 per cent on Wednesday. It’s the first time that Canada’s central bank has raised its trend-setting interest rate since January, when the bank signaled it would conditionally pause its aggressive campaign of rate hikes to wait and see if it had done enough to bring down inflation. Since then, the data has shown the Canadian economy to be unexpectedly resilient, as it has grown by more than expected. After declining for nine months in a row, the inflation rate unexpectedly ticked higher last month. The bank’s latest…

Can SMBs Help Workers In Debt?

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Can SMBs Help Workers In Debt?
Business News
One unfortunate consequence of the pandemic was that many workers became indebted. Now, they have trouble making ends meet while also paying their debts. But the pandemic also spurred the rise of many new small and midsize businesses, which could be the perfect solution to the problem of worker debt.Six in ten employees admit to being concerned about the amount of household debt they have, as well as the lack of opportunities in the workplace to rectify them. Small and midsize businesses can play a vital role in solving workers’ debt problems, especially when SMBs open doors to many…