Business

For a third straight time, the U.S. Federal Reserve kept its key interest rate unchanged Wednesday, as it signalled its expectations to make a series of quarter-point cuts to the benchmark interest rate next year.  In keeping status quo, Fed signals it’s done raising rates after string of increases. For …

Tesla is recalling more than two million vehicles it sold in the U.S. and 193,000 sold in Canada to fix a defective system that is supposed to ensure drivers are paying attention when they use Autopilot.  U.S. safety regulators say company will send out software update to fix problems. Tesla …

WASHINGTON, D.C.: Google’ stinging defeat against “Fortnite” maker Epic Games in a California courtroom could be an important blow against big tech’s decades of supremacy on antitrust matters in the United States. With Washington lawmaking gridlocked and pro-business judges dominant in federal courts, US tech giants have survived unscathed for …

Dollarama Inc. reported its third-quarter profit and sales rose compared with a year ago and raised its guidance for comparable-store sales.  Sales totalled $1.48 billion, up from $1.29 billion in the same quarter last year. If domestic manufacturers and suppliers keep pushing their prices up on food and several household …

The 2023 United Nations Climate Change Conference, or COP28, has reached a tentative agreement after negotiations about how and when to phase out fossil fuels continued past midnight on the final day of the summit in Dubai.  Latest draft contains much stronger language, but doesn’t go as far as recommending …

The federal government is planning to launch a catalogue of pre-approved home designs to speed up the home-building process for developers.  Minister says new catalogue should come together sometime next year. The federal government intends to resurrect a post-war effort to ramp up housing construction across Canada — but with …

Hasbro said on Monday it would cut another 900 jobs globally, nearly a year after the toymaker announced it would reduce 15 per cent of its workforce amid weaker sales.  Spokesperson declined to share whether Canadian operations would be affected. Hasbro said on Monday it would cut another 900 jobs …

Metro Inc. president and CEO Eric La Flèche spoke Monday at a House of Commons committee meeting after research found that profits in the Canadian grocery sector will likely exceed $6 billion this year, setting a new record. Committee hearing comes as new research forecasts record profit of $6B for …

A council of prominent Indigenous leaders tasked with advising Canadian National Railway Co. has resigned over what they say is the company’s failure to acknowledge past wrongs and follow its recommendations for reconciliation. ‘Our utility to CN is no longer worth the effort that we’re putting out,’ says co-chair Murray …

SmileDirectClub is shutting down just months after the struggling teeth-straightening company filed for Chapter 11 bankruptcy protection. Filing at end of September showed teeth alignment company was $900M in debt, SmileDirectClub is shutting down just months after the struggling teeth-straightening company filed for bankruptcy protection. In a Friday announcement, the …