Canada Post Inc. is selling off its third-party logistics business to a Montreal company, according to a media release Tuesday from the Crown corporation. The sale of SCI Group Inc. to Metro Supply Chain comes as the country’s national postal service “focuses on transforming to serve the changing needs of Canadians and Canadian businesses,” says … Read more
Warehouse stores in Canada aren’t just selling large quantities of toilet paper these days — gold bars and coins and other precious metals are moving out of the realm of banking and jewellers and into their aisles. With gold hitting record-high prices in recent weeks, the metal’s popularity has been reflected at retailers, too. According to Costco’s chief financial officer, … Read more
When Evelyn Schaffer first saw her engagement ring, she was speechless. It was a 0.76-carat, oval-cut stunner — and she said no one has been able to tell that the diamonds were created in a lab. “I’ve never seen anything like it and it’s gorgeous,” Schaffer said. “The lab-grown diamonds are actually more sparkly in my … Read more
The parent company behind popular brands like The North Face, Supreme and Vans said it experienced a cybersecurity incident that affected its online order fulfillment capabilities. VF Corp. said in a Monday filing with the Securities and Exchange Commission that a threat actor recently encrypted some of its information technology (IT) systems, leading to online … Read more
Hasbro said on Monday it would cut another 900 jobs globally, nearly a year after the toymaker announced it would reduce 15 per cent of its workforce amid weaker sales. Hasbro had said in January it would cut about 1,000 full-time positions. On Monday, the company said it had already cut 800 jobs. Hasbro had employed … Read more
All major industry players need to sign on to the grocery code of conduct in order for it to be successful, said Metro Inc. president and CEO Eric La Flèche. La Flèche told MPs Monday at a House of Commons agriculture committee meeting on stabilizing food prices that Metro is willing to sign the code of … Read more
SmileDirectClub is shutting down just months after the struggling teeth-straightening company filed for bankruptcy protection. In a Friday announcement, the U.S.-based company that was operating in multiple countries, including Canada, said it had made an “incredibly difficult decision to wind down its global operations, effective immediately.” That leaves existing customers in limbo. SmileDirectClub’s aligner treatment through … Read more
The federal government says it has hammered out the final details with Visa and Mastercard to lower credit card transaction fees for merchants, but small business advocates say the deal doesn’t go nearly far enough. The deal concerns what is called an interchange fee, also known as a “swipe fee,” which sets aside a percentage … Read more
Amazon asked a federal court on Friday to dismiss a US government antitrust lawsuit which accuses the company of using illegal strategies to boost profits at its online retail empire, including an algorithm that allegedly pushed up prices by more than $1 billion. In its motion to dismiss, Amazon said the Federal Trade Commission, in a lawsuit filed in September, confused … Read more
The bread supplier that admitted to price-fixing earlier this year says any anti-competitive behaviour it participated in was at the direction and to the benefit of its then-majority owner Maple Leaf Foods. In a statement of defence for a class-action lawsuit alleging a bread price-fixing scheme, Canada Bread denies participating in a “lengthy, wide-ranging conspiracy” … Read more
