Business News

Metro marks end of ‘transition year’ with small profit dip

Grocery and drugstore retailer Metro Inc. ended its “transition year” with fourth-quarter earnings of $219.9 million, with an almost $1-billion supply chain transformation in the rearview mirror and plans to grow its store footprint in the coming year. “This transformation will provide capacity for future growth and efficiency while strengthening our market position,” said president

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Two Canadian food companies sued in U.S. over ‘potato cartel’ allegations – National

Two proposed class-action lawsuits in the United States name two Canadian food companies as alleged members of a “potato cartel” that’s accused of a years-long campaign of fixing prices on frozen products. The suits, which have yet to be certified, were both filed last week in U.S. District Court in Illinois and name Canada’s McCain

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Rogers cuts a ‘few dozen’ audio jobs in tight advertising market – National

By Staff The Canadian Press Posted November 20, 2024 8:57 am 1 min read Descrease article font size Increase article font size Rogers Sports and Media has cut what it says are a “few dozen” jobs in its audio business. Company spokesperson Charmaine Khan says the radio industry is continuing to feel the pressure of

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Walmart’s promise of low prices lured shoppers in 3rd quarter – National

Walmart ratcheted up sales and profits again in the third quarter with its comparatively low prices proving a powerful draw for shoppers seeking to cut spending where they could. The nation’s largest retailer raised its outlook for the year as well and shares rose nearly 4% in premarket trading Tuesday. Walmart, based in Bentonville, Arkansas,

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Spirit Airlines files for bankruptcy amid financial woes – National

Spirit Airlines said Monday that it has filed for bankruptcy protection and will attempt to reboot as it struggles to recover from the pandemic-caused swoon in travel, stiffer competition from bigger carriers, and a failed attempt to sell the airline to JetBlue. Spirit, the biggest U.S. budget airline, filed a Chapter 11 bankruptcy petition after

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Canadians will get child benefit cheques this week amid Canada Post strike – National

The latest child benefits are going out to Canadian parents this week amid a postal disruption as thousands of Canada Post workers remain on a nationwide strike. Eligible families who have children under the age of 18 years will receive November payments of the Canada child benefit (CCB) on Wednesday. Parents who are expecting payments

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Carbon rebate for small businesses will be tax-free: Freeland – National

Descrease article font size Increase article font size Deputy Prime Minister and Finance Minister Chrystia Freeland says the Canada carbon rebate for small businesses will be tax-free. In a statement posted to X late Tuesday, Freeland clarified the parameters of the program after an advocacy group for small business raised concerns that the rebate would

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