The Tantoco family’s SSI Group Inc. has upgraded its partnership with luxury goods firm Prada S.p.A from a franchise to a P380 million joint venture which is seen to ramp up the brand’s expansion in the Philippines. In a disclosure to the Philippine Stock Exchange (PSE), SSI said its wholly-owned …
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Tiff Macklem says 2024 will be a transition year for economy, too soon to consider rate cuts
Bank of Canada governor Tiff Macklem says he expects 2024 to be a transition year as higher interest rates slow down the economy, making way for lower inflation. Effects of higher interest rates still working their way through the economy. Bank of Canada governor Tiff Macklem says he expects 2024 …
Read More »Rogers Sugar strike negotiations hit impasse over company’s demand for 24/7 operations
Workers at the Rogers Sugar refinery in Vancouver have been on strike since Sept. 28 over issues including wages, benefits and the company’s demand to increase refinery operations to 24 hours a day, 365 days per year. Workers unhappy with company plan to expand operations round-the-clock all year with mandatory …
Read More »Annual pace of housing starts in Canada down 22% in November, says CMHC
The annual pace of housing starts in Canada are down 22 per cent in November, according to the CMHC. One economist calls it a “crisis.” ‘Crisis’ looming as need grows while starts steadily decline, economist says. The pace of housing starts in Canada fell by 22 per cent in November, …
Read More »Pfizer completes purchase of cancer-focused Seagen
“Yes, we’re exploring to buy more (Sinovac doses). But our plan is, once the majority of Pfizer and Moderna vaccine doses have been delivered, we might be concentrating on these major brands,” vaccine czar Carlito Galvez Jr. said during the arrival of more than 365,000 doses of the Pfizer vaccine …
Read More »Shopping app Temu sues rival Shein over ‘mafia’ tactics
Chinese-owned online retailer Temu is suing its rival Shein in the United States, accusing it of “mafia-style” intimidation tactics to keep the upper hand in the US market. In the lawsuit, filed on Wednesday in a federal court in Washington DC, Temu accuses Shein of threatening merchants against doing business …
Read More »Air Transat avoids strike after reaching tentative deal with flight attendant union
Air Transat and the union representing flight attendants, CUPE, have reached an agreement in principle. The agreement in principle diverts a strike that could have come as soon as Jan. 3. Air Transat and the union representing its flight attendants, a unit of The Canadian Union of Public Employees, have …
Read More »U.S. Federal Reserve leaves key interest rate unchanged, expects 3 rate cuts in 2024
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 …
Read More »Tesla recalling over 2 million cars in the U.S. and Canada over system that checks if drivers are alert
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 …
Read More »Big tech jolted by Google’s defeat
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 …
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