Business

Retail and pharmacy chain London Drugs says it was the “victim of a cybersecurity incident” Sunday and has shuttered its stores across western Canada until further notice.  Retailer operates nearly 80 stores across B.C., Alberta, Saskatchewan and Manitoba. Cyberattack closes all London Drugs stores All 79 London Drugs locations in …

Federal efforts to bring “open banking” to Canada are being welcomed by players in the industry — but there’s also criticism that, after years of waiting, any changes may not come fast enough to encourage innovation or allow smaller financial players compete with larger institutions.  ‘WTF is going on, Canada?’ …

NEW YORK CITY: JPMorgan Chase Chief Executive Officer Jamie Dimon said he’s hopeful the US Federal Reserve can bring down inflation without causing a recession but wouldn’t rule out more troubling possibilities, such as stagflation. In an interview with The Associated Press at a Chase branch opening in The Bronx, …

(File photo) MANILA – An oil price rollback on Tuesday will snap the six straight weeks of increase in gasoline prices. This as Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil and Shell announced Monday that they will cut gasoline prices by PHP0.25 per liter and another PHP0.45 per liter on diesel prices. …

Canada’s biofuel industry is welcoming a proposed multi-billion dollar package of financial support from the federal government, although concerns remain about whether it will be enough to compete with lucrative subsidies south of the border and reverse the growing dependence on U.S. imports to meet clean fuel regulations. New funding …

Canada’s poverty rate rose to 9.9 per cent in 2022, approaching pre-pandemic levels as government financial benefits introduced during the COVID-19 crisis ended, according to a Statistics Canada report released Friday. Food insecurity numbers are ‘sickening’ but not surprising, says researcher. Nearly nine million Canadians lived in food insecure households …

The owners of Ted Baker’s Canadian operations have filed for creditor protection in a bid to help the retailer get enough “breathing room” to decide whether to liquidate and wind down the business or pursue other unspecified alternatives. Clothing brand facing has been ‘unsuccessful’ in reducing costs, say lawyers in …

PARIS: European aviation giant Airbus posted a 28-percent increase in first-quarter profit on Thursday through rising deliveries and production, a day after archrival Boeing reported a loss. Airbus’ net income in the first three months rose to 595 million euros ($637 million) while revenue grew 9 percent to 12.8 billion …

Japanese automaker Honda will make a $15-billion electric vehicle investment in Ontario to build four new manufacturing plants in the province, Prime Minister Justin Trudeau and Ontario Premier Doug Ford announced Thursday. Trudeau and Ford say $5B shared investment will create growth for decades to come. Japanese automaker Honda will …

Indigenous leaders say a new loan guarantee program from the federal government, announced last week in the 2024 budget, will be a huge boost for economic reconciliation. Why the new Indigenous loan guarantee program is a big deal. Downtown Toronto is a long way from most communities where the federal …