Alibaba Group Holding is expected to sell its department store chain Intime Retail (Group) to Chinese apparel company Youngor Fashion as China’s e-commerce giant walks away from offline retailing, according to people familiar with the matter. The two sides are expected to announce the deal this week, said one source, who declined to be named. … Read more
CrowdStrike has been sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing could cause the global outage on July 19 that crashed more than eight million computers. In a proposed class action filed on Tuesday night in the Austin, Texas, federal court, shareholders said they learned that … Read more
Intel was set to erase nearly $25 billion US in stock market value on Friday in potentially its worst sell-off since 2000, after it suspended its dividend and slashed its workforce to fund a costly turnaround for its chipmaking business. The company’s stock fell nearly 21 per cent in pre-market trading after Intel late on Thursday … Read more
A Quebec judge is authorizing a class action from shareholders against Bombardier Inc. over claims that the plane maker presented a false picture of its financial situation in 2018, a turbulent year that saw its share price tank. The lawsuit alleges that Bombardier, then-CEO Alain Bellemare and then-chief financial officer John Di Bert failed to … Read more
Indigo Books & Music Inc. shareholders have voted to approve a deal that will see the retailer become a private company. Shareholders voted Monday in favour of a $2.50 per share offer from Trilogy Retail Holdings Inc. and Trilogy Investments L.P., which already held a 56 per cent stake in Indigo. The Trilogy companies are owned … Read more
Indigo Books & Music Inc. has agreed to be taken private after agreeing to a sweetened offer from a holding company connected to its largest shareholder. The retailer says its agreement will see Trilogy Retail Holdings Inc. and Trilogy Investments L.P. pay $2.50 per share in cash for the stake in Indigo they do not … Read more
Lightspeed Commerce is cutting about 280 jobs, less than two months after its founder returned to the helm of the Montreal-based technology company. After integrating the company’s many acquisitions, “Lightspeed is now entering a new phase, one focused on profitable growth to capture the opportunity in front of us,” said founder and chief executive Dax Dasilva. … Read more
Curated By: Business Desk Last Updated: February 19, 2024, 18:18 IST Titagarh Rail Systems stocks have gained over 359 per cent in the last one year. In a strategic move last month, Titagarh Rail Systems partnered with Delhi’s Amber Group to venture into the railway component and sub-system business. Titagarh Rail Systems closed more … Read more
Suncor Energy Inc.’s share price jumped Wednesday as the company reported its fourth quarter oil output was its second-highest quarter ever. The Calgary-based company announced upstream production in the fourth quarter of 2023 of 808,000 barrels per day. With the strong fourth-quarter output, Suncor said it has met its corporate forecast provided in November 2022 … Read more
A trial date has been set for early 2025 to sort out whether Alberta is liable for billions in compensation due to policy changes for coal development in the province. In four separate statements of claim, coal companies allege that Alberta’s decision in 2022 to change the rules around coal mining cost them financially and resulted in … Read more
