world business news

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

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 …

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

Photo: The Canadian Press While 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 …

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

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 …

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Reddit is facing a major protest from its own moderators

Reddit, the “front page of the internet,” is making front-page news today, as many of the site’s moderators have made their communities private or restricted to protest recent changes to the platform. Many of the platform’s largest forums or subreddits, including r/pics, r/gaming and r/music, are preventing users from viewing the site or posting on …

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Economic growth beats expectations with 3.1% gain in Q1: StatCan – Business News

Economy beats expectations The Canadian Press – May 31, 2023 / 5:58 am | Stories: 429444 Photo: The Canadian Press 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 …

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Berkshire Hathaway shareholder meeting takeaways: Warren Buffett’s remarks

Warren Buffett, chairman and CEO of Berkshire Hathaway, criticized the government’s intervention in recent bank failures, saying on Saturday it averted what could have become an even bigger crisis. Yet he said the US banking system had become too complicated — and it was not surprising that the banks failed. He said he’d been selling …

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How Ryan Reynolds became Canada’s unlikeliest business mogul

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 …

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