Five Canadian business stories to watch this week
A preview of the national business news that will be making headlines in the coming days.
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The Canadian Press
B.C. court approves sale of struggling outdoor equipment retailer MEC to U.S. firm
Despite a struggle with sluggish sales, inventory issues and increasing online competition, the severity of the retailer’s financial woes and its decision to sell came
Infrastructure bank to invest $10B in priority areas for pandemic recovery
Bank has been criticized for the relatively few investments it has made thus far.
Economic rebound slows; Canadian economy grew 3% in July
Gains have been linked to the loosening of restrictions that forced non-essential businesses to close this spring, but haven’t been enough to haul the economy
National employer survey projects more salary freezes ahead
Morneau Shepell forecasts national average salary increase will be about 1.6% including freezes – down from 2.4% average increase in 2019.
Shopify shuffle: Top executive Miller departs, Finkelstein shifts to president
Additionally, chief executive Tobias Lütke says he will add the role of chief product officer to his existing duties.
Five Canadian business stories to watch this week
A preview of the national news that will be making headlines in the coming days.
Airlines demand ‘concrete plan’ for financial aid after throne speech hints at relief
‘Time is of the essence,’ Canadian Airports Council president says.
Feds offer $50M fund to film, TV productions struggling to get insurance
Fund will offer productions a maximum compensation of $1.5 million in the case of a temporary interruption and $3 million in the case of a
BlackBerry reports Q2 loss, revenue up from year ago
BlackBerry executive chairman John Chen says the sequential and year-over-year revenue growth this quarter exceeded the company’s expectations despite the ongoing challenges from COVID-19.
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