Apple’s ubiquitous iPhone is about to break new ground with a shift into artificial intelligence that will do everything from smartening up Siri to creating customized emojis on the fly. “The next generation of iPhone has been designed for Apple Intelligence from the ground up. It marks the beginning of an exciting new era,” CEO … Read more
Aircraft landing gear maker Héroux-Devtek Inc. says it has signed a deal to be acquired by U.S. private equity firm Platinum Equity Advisors LLC in a deal valued at $1.35 billion. Under the agreement, Platinum Equity will pay $32.50 in cash per share for the company. Based in Longueuil, Que., Héroux-Devtek is one of the … Read more
Entertainment giant Paramount will merge with production company Skydance, closing out a decades-long run by the Redstone family in Hollywood and injecting desperately needed cash into a legacy studio that has struggled to adapt to a shifting entertainment landscape. It also signals the rise of a new power player, David Ellison, the founder of Skydance and … Read more
A U.S. bankruptcy judge on Thursday approved WeWork’s Chapter 11 bankruptcy plan, allowing the shared office space provider to eliminate $4 billion in debt and hand the company’s equity over to a group of lenders and real estate technology company Yardi Systems. Flexible workspace provider WeWork expanded at breakneck speed, opening its first location in … Read more
From its pop-art iPod commercials to its celebrity-led Mac vs. PC campaign, Apple hasn’t had many marketing missteps to its name. But a controversial ad for the company’s latest iPad model has critics railing against the tech giant for what they say is a slight against artists and the creative community — a demographic once drawn to … 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
Canadian clothing maker Gildan Activewear said on Tuesday that its board has decided to put the company up for sale following a review by a special committee. The embattled Montreal-based company says it received a non-binding expression of interest from a potential purchaser that it did not name. It mandated investment banks RBC Capital Markets and Goldman Sachs Group … Read more
Former talk show host Oprah Winfrey is leaving the WeightWatchers board of directors and donating millions of dollars in the weight management firm’s stock to charity, the company said Thursday, sending its stock tumbling in early trading. The exit of the media icon and celebrity shareholder, who has been a board member since 2015, comes at a … Read more
Lululemon’s controversial founder Chip Wilson is again facing criticism for his latest remarks regarding the company’s diversity and inclusion efforts. In a recent article by Forbes, Wilson objected to the company’s use of models with a range of body types, whom he said looked “unhealthy,” “sickly” and “not inspirational.” “They’re trying to become like the Gap, everything … 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
