Category: Bussines

Hudson’s Bay Co. will start selling off all merchandise on Friday at the six stores previously spared from liquidation, effectively ending the retail empire’s reign and significantly dimming the possibility that the business dating back to 1670 will stay alive. Canada’s oldest company is making the move because “it is unlikely” that it will find…

European Union watchdogs fined Apple and Meta hundreds of millions of euros on Wednesday in two separate cases as they stepped up enforcement of the 27-nation bloc’s digital competition rules. The European Commission imposed a 500-million euro ($788-million Cdn) fine on Apple for preventing app makers from pointing users to cheaper options outside its App Store.…

Clothing retailer Frank and Oak is closing all 14 of its stores in the coming weeks and selling its intellectual property to a Montreal-based company as part of ongoing restructuring efforts. In a press release, the company says the Superior Court of Quebec approved the sale of the brand to Lamour Group and Thread Collective…

Tesla shares surged about five per cent in premarket trading on Wednesday after Elon Musk said he would spend less time working for the U.S. administration, kindling hopes that the billionaire CEO would devote more time to the struggling EV maker’s brand and sales. Musk’s participation in the Department of Government Efficiency, or DOGE, where he…

The U.S. and global economies will likely slow significantly in the wake of U.S. President Donald Trump’s tariffs and the uncertainty they have created, the International Monetary Fund said Tuesday.  The IMF said that the global economy will grow just 2.8 per cent this year, down from its forecast in January of 3.3 per cent, according…

A coalition of U.S. auto industry groups urged President Donald Trump on Tuesday not to impose 25 per cent tariffs on imported auto parts, warning they would cut vehicle sales and raise prices. Trump said earlier he plans to impose tariffs of 25 per cent on auto parts no later than May 3. “Tariffs on auto parts will…

Hudson’s Bay Co. has stopped paying commission to hundreds of cosmeticians and fragrance advisers during liquidation sales, effectively reducing their salaries. These workers, also known as beauty advisers, earn commission on products sold, on top of their base salary. Hudson’s Bay notified the beauty advisers 12 days in advance that, starting on April 20, they would…

U.S. President Donald Trump on Monday kept up his verbal attacks on Federal Reserve Chair Jerome Powell over the Fed’s refusal for now to further cut interest rates. On social media, the president referenced Powell when he said a slowdown would be coming to the U.S. economy unless “Mr. Too Late, a major loser, lowers interest rates, now.” This…

Think you’ve found a great deal on TikTok to buy Lululemon or Louis Vuitton directly from the factory? Experts say you might want to think again about how real the claims in that video are. In recent days, social media users claiming to have an inside scoop on how and where luxury brands are really made…

Wall Street weakened Monday as investors worldwide became more skeptical about American investments, something many economists suggest is due to U.S. President Donald Trump’s trade war and his ongoing criticism of the Federal Reserve. The S&P 500 sank 2.4 per cent in another wipeout. That yanked the index 16 per cent below its record set two months ago. The…