Here’s why the PGA Tour just merged with LIV Golf
The PGA Tour announced Tuesday it would merge with LIV Golf, a Saudi-backed men’s golf organization that formed last year to compete with the PGA.
News of the merger sent shock waves through the sports world and even reached the highest echelons of the US government, after a reporter sought comment from the Biden administration about the Saudi government’s taking such a large stake in men’s golf. Biden spokeswoman Karine Jean-Pierre declined to comment.
Here’s what it all means.
What is LIV Golf?
LIV was created in 2022 by Saudi Arabia’s Public Investment Fund (PIF) alongside two of the world’s…
The Bank of Canada raises the key interest rate
OTTAWA –
The Bank of Canada raised its overnight rate by 25 basis points to 4.75 per cent on Wednesday, its first increase since pausing hikes in January. The central bank’s key interest rate has not been this high since April 2001.
Several factors led to the bank’s decision to raise the key interest rate, including economic growth in Canada. Gross Domestic Product exceeded expectations in the first quarter of this year, growing by 3.1 per cent.
The central bank says demand in the economy has rebounded, with surprisingly strong consumer spending. Housing market activity has picked up again…
The Family Business Succession Puzzle
Two weeks ago today we bade farewell to everyone’s favorite oedipal billionaires as the final episode of “Succession” wrapped up. The show’s immense cultural impact is due to many factors: top-class writing, heart-rending performances, and the sheer power Brian Cox could load into the letter ‘F’ all they played their part.
At its heart, the series highlights the often messy interlacing of family dynamics and 21st-century capitalism — and while we believe few viewers could truly relate to the Roys, that dynamic is deeply entrenched in real-world economics. Around 60% of the US workforce is employed by family-run businesses, and…
Irving Oil considers the sale of the company as part of a strategic review
Irving Oil says it has launched a strategic review that will consider, among other things, “a full or partial sale” of the company, one of the largest in New Brunswick.
“A strategic review of the company is underway, and a series of options are being evaluated related to the company’s future,” the Saint John-based company said in a statement.
“No decisions have been made about where this strategic review may lead. Considerations will be given to a new ownership structure, a full or partial sale, or a change in the portfolio of our assets and how we operate them.”
The…
Interest-rate hike could push real estate sales: mortgage broker
With the latest hike bringing Canada’s key interest rates to levels not seen since 2001, one mortgage broker is warning that it may be “the last straw” for some homeowners with variable mortgages.
“We started to hear from people in the last three weeks that they are actively considering selling their homes,” Ron Butler, a mortgage broker in Ontario told CTV News Channel on Wednesday. “They can’t handle the increase.”
The Bank of Canada raised its overnight rate by 25 basis points to 4.75 per cent, the first increase since stopping hikes in January.
Butler says homeowners with variable rate…
Bank of Canada rates hike nails in coffin for economy
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economy
The Bank of Canada did exercise patience, but not enough
Published June 08, 2023 • Last updated 1 day ago • 4 minute read
The Bank of Canada’s tone on June 7 was hawkish, leaving the door open for another interest rate hike in July. Photo by Sean Kilpatrick /The Canadian Press
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The Bank of Canada pulled an RBA and hiked rates on June 7 with the market mostly (call it 60-40) priced for no move and more than 80 per cent of Bay Street economists believing the central bank would hold its fire.…
Economic growth beats expectations with 3.1% gain in Q1: StatCan – Business News
Economy beats expectations
The Canadian Press – May 31, 2023 / 5:58 am | Stories: 429444
Photo: The Canadian Press
The Canadian economy grew at an annualized rate of 3.1 per cent in the first quarter of 2023, Statistics Canada reported Wednesday.
The latest data shows growth beating out the federal agency’s own forecast of 2.5 per cent for the quarter. A preliminary estimate suggests the economy grew by 0.2 per cent in April, after remaining flat in March.
The ongoing resilience in the economy will likely spur discussions of a potential rate hike, as the Bank of Canada is…
Breaking down the snacking occasion
CHICAGO — The devil, as they say, is in the details. While most people agree that snacking is a significant food and beverage market trend, success requires understanding who the key customers are, what they prefer to snack on and when.
The market researcher 84.51º, Cincinnati, a business unit of Kroger Co., dedicated its May 2023 Consumer Digest report to better understanding the snack shopper. The report consists of responses from 450 verified Kroger shoppers who had shopped at one of the retailer’s banners during the past three months and focused on their snacking habits.
“Younger shoppers are the shoppers…
