Tesla’s first-quarter net income plummeted 55 per cent, but its stock price surged in after-hours trading Tuesday as the company said it would accelerate the production of new, more affordable vehicles. The Austin-based company said it made $1.13 billion US from January through March compared with $2.51 billion US in the same period a year ago. … Read more
Deputy Prime Minister and Finance Minister Chrystia Freeland says she thinks unhappy premiers will come around on measures in the federal budget that touch on provincial legislation, even as they push back. At an event in Toronto on Sunday, Freeland — who presented the federal budget on Tuesday — said the national government needs to push ahead on … Read more
A former Shoppers Drug Mart franchise owner has filed a proposed class action lawsuit against the Canadian retail pharmacy chain, and its parent company Loblaw, alleging the companies imposed “unsafe and unethical” corporate practices on franchise owner pharmacists to increase profits. The claim was filed in Ontario Superior Court last week and intends to cover … Read more
The Chinese e-commerce platform, owned and operated by PDD Holdings, continues its meteoric rise in the US and beyond, with 41.34 million app downloads in March 2024. The platform dominated the ad space in this year’s Super Bowl and is consistently leading app store charts. What is Temu Like? You can buy almost anything you … Read more
Huawei Technologies’ 2023 net profit more than doubled, as rising sales of its mainstay telecoms equipment and a comeback in consumer products – funded by a record R&D budget – helped the privately held company hack a profitable path out of restrictive US sanctions. The Shenzhen-based firm’s 2023 revenue grew 9.6 per cent to 704.2 … Read more
For the shellfish industry, high fecal counts detected in areas where shellfish such as oysters are harvested can mean long — and costly — closures. The fecal matter is associated with human-borne viruses, like norovirus, but the tests that are typically used to measure the fecal matter don’t distinguish between different types of animals, including … Read more
Tinubu’s Requests: Again, lawmakers sacrificing due diligence for speed There is an emerging trend in the National Assembly. It has been noticed that once a bill or request emanates from the president, the lawmakers pass or approve it at the speed of light.During the past week, the lawmakers approved four requests from the president. The … Read more
The recent decision by SaltWire Network Inc., Atlantic Canada’s largest newspaper company, to seek protection from its creditors is another sign of the decline of the business and the growing threat to local journalism, experts said Tuesday. “We’re seeing a resurgence in a steady spate of closings and scaling back of local news operations,” said … Read more
Premier Andrew Furey said the carbon tax doesn’t incentivize people to switch to renewable energy because the infrastructure to make that shift possible isn’t yet established in Newfoundland and Labrador. (Ted Dillon/CBC) Premier Andrew Furey shared an open letter Tuesday addressed to the prime minister, asking him to pause an upcoming increase to the carbon tax … Read more
ByteDance, China’s most valuable unicorn and the owner of TikTok, has started a new round of share buy-backs for its global employees that price the equity higher than the previous round, according to two people familiar with the matter. The Beijing-based company has offered to purchase shares from staff at US$170.81 each, up nearly 7 … Read more
