Business

Petro-Canada says the problems that customers have experienced with things like payment and loyalty programs at the gas station chain are ongoing, but it is making progress on fixing them.  Chain of gas stations says problems processing credit and debit payments persist after cybersecurity incident. Petro-Canada says the nearly weeklong …

The nation’s 23 largest banks passed the Federal Reserve’s so-called stress tests this year, a sign that the nation’s banking system remains resilient despite the recent banking crisis that led to the failure of Silicon Valley Bank, Signature Bank and First Republic Bank.  Annual central bank exercise did show some …

FRANKFURT: Leading global central bankers asserted on Wednesday that they are not backing off their steep interest rate increases, pointing to inflation being more persistent than expected but still downplaying fears of recession from their hikes. The message was that borrowing costs would stay high until the inflation beast is …

Courts in Ontario, B.C. and Quebec have approved settlements of 23 class-action lawsuits worth $78 million in a series of cases alleging some auto-parts makers cheated car manufacturers, businesses and new-car buyers in a price-fixing scheme dating back nearly two decades.  Anyone who bought a new car between 1998 and …

Indigo lost $50 million in its last fiscal year as its highly publicized cybersecurity incident walloped what was otherwise a profitable year, the book retailer said Wednesday.  Before hack, company says it was on track for higher sales, especially online. Indigo lost $50 million in its last fiscal year as …

Several influencers were lambasted this week for their social media posts enthusiastically highlighting a trip sponsored by the Chinese fast fashion clothing retailer Shein, which has previously been accused of labour exploitation and environmentally damaging practices.  Company said influencer videos were ‘authentic’ reactions to facility tour. Influencers on blast: how …

WASHINGTON, D.C.: The American consumer’s confidence jumped in June to its highest level in 18 months as a strong labor market continues to buoy the US economy. The Conference Board reported on Tuesday that its consumer confidence index rose to 109.7 in June from 102.5 in May. That’s the highest …

TAIPEI: New Zealand Prime Minister Chris Hipkins discussed his country’s interest in boosting economic ties with China during a meeting with Chinese President Xi Jinping in Beijing on Tuesday. Hipkins said the focus of his meeting with Xi was to “reaffirm our close economic relationship by supporting businesses [to] renew …

Postmedia Network Canada Corp. has confirmed that it is in talks to merge with Nordstar Capital LP, the owner of Metroland Media Group and The Toronto Star.  Canada’s newspaper industry ‘at an extreme risk,’ says Toronto Star publisher. Postmedia Network Canada Corp. has confirmed that it is in talks to …

WASHINGTON, D.C.:President Joe Biden on Monday said that high-speed internet is no longer a luxury but an “absolute necessity,” as he pledged that every household in the nation would have access by 2030 using cables made in the United States. “These investments will help all Americans,” he said. “We’re not …