Tag: world business news

How Ryan Reynolds became Canada’s unlikeliest business mogul

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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…

6 ways to make more income from your investments

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Breadcrumb Trail LinksInvestorsThe downside from here is much smaller than the upsidePublished May 09, 2023 • Last updated 3 hours ago • 5 minute readA monitor with stock market information on the floor of the New York Stock Exchange. Photo by Michael Nagle/Bloomberg filesArticle content There are some unique opportunities in every investment market, and we’re not talking about artificial intelligence and lithium mining here, but the joys of some sources of high income.Advertisements 2This advertisement has not been loaded yet, but your article continues below.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY…

WestJet closes deal to buy Sunwing Vacations and Sunwing Airlines – Business News

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WestJet closes Sunwing deal The Canadian Press – May 1, 2023 / 9:15 am | Stories: 424375Photo: The Canadian PressThe WestJet Group says it has closed its acquisition of Sunwing Vacations and Sunwing Airlines that was first announced in March last year. The company says that, initially, the airlines will continue independent operations. However, WestJet says the two airlines will move from being competitors to collaborators. Stephen Hunter, formerly the CEO of Sunwing Vacations, has been appointed CEO of the WestJet Group’s vacations business. Hunter will be responsible for all tour operating and vacation package businesses at both…

Canada’s cellphone plans are still too expensive: experts

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CTV News is a division of Bell Media, which is part of BCE Inc. TORONTO — A price drop for Canadian phone and internet services last month has some observers optimistic about the downward trend, but industry watchers say there is still a long way to go when it comes to telecom affordability. Consumers paid 14.7 per cent less for cellular services in June compared with the same month last year, following an 8.2 per cent decline in May, according to Statistics Canada’s latest inflation report released Tuesday. Overall, the cost of telephone services dropped 11.1 per cent in…

Watchdog probing claims that Nike Canada, a gold company benefiting from forced Uyghur labour

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Canada’s watchdog for corporate wrongdoing says she has enough to launch an investigation of allegations that Nike Canada and a gold mining company are benefiting from the forced labor of Uyghurs in China. It’s the first time the office of the Canadian Ombudsperson for Responsible Enterprise (CORE) has launched an investigation since the federal government appointed Sheri Meyerhoffer to the role in April 2019. “These are very serious issues that have been brought to our attention,” Meyerhoffer said Tuesday. “Canadian companies are expected to respect Canadian standards for human rights and environmental protection when they work outside of Canada.” A…

Fake online reviews: US proposes bans

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WASHINGTON – US federal regulators are looking to crack down on fake reviews and other deceptive internet practices. The Federal Trade Commission proposed a new rule Friday that would ban paying for reviews, suppressing honest reviews, selling fake social media engagement and more. Businesses would also be prohibited from running company-controlled websites that claim to be independent, and other deceptive practices like “review hijacking,” which makes reviews for one product appear like they were written for significantly different ones. If the proposed rule is approved, following a 60-day public comment period, violators could face hefty penalties. “Our proposed rule on…

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

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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 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…