Scandal-plagued Japan tech giant Toshiba accepts buyout offer – Business News
Photo: The Canadian Press
Scandal-embattled Japanese electronics and technology manufacturer Toshiba has accepted a 2 trillion yen ($15 billion) tender offer from Japan Industrial Partners, a buyout fund made up of major banks and companies.
If the proposal succeeds, it will be a major step in Toshiba’s years long turnaround effort, allowing it to go private and delisted from the Tokyo Stock Exchange. But overseas activist investors own a significant part of Toshiba’s shares, and it’s unclear if they will be happy with the latest bid.
Tokyo-based Toshiba Corp. announced its board accepted the bid at 4,620 yen ($36) a…
Shoppers Drug Mart eliminates ‘pink tax’ on menstrual pain medication following CBC investigation
Shoppers Drug Mart is taking action following an investigation by CBC’s Marketplaces that found painkillers labeled as a treatment for menstrual cramps cost more than near-identical painkillers marketed for headaches and other pain.
The drugstore’s parent company, Loblaw, told Marketplaces over email on March 15 that it “recognizes the importance of equity and access and will align the price of these products within a week.”
As of March 24, more than a week after that email was sent, online prices were aligned but inconsistent across stores in the Greater Toronto Area.
Marketplaces found the two examples of the so-called pink…
Pornhub owner MindGeek purchased by private equity firm – Business News
Pornhub owner purchased
The Canadian Press – March 16, 2023 / 12:47 pm | Stories: 416472
Photo: The Canadian Press
The Pornhub website is shown on a computer screen in Toronto on Wednesday, Dec. 16, 2020. PornHub parent company MindGeek is being acquired by private equity firm Ethical Capital Partners.THE CANADIAN PRESS
Private equity firm Ethical Capital Partners (ECP) is acquiring MindGeek, the owner of Pornhub.
The terms of the transaction are not being publicly disclosed.
In a news release, ECP says MindGeek is committed to quality adult entertainment made by and for consenting adults.
The Ottawa-based private equity firm…
Big banks create $30B rescue package for First Republic – Business News
Photo: The Canadian Press
The hours of operation and the FDIC Insured status is on display at the front door of a First Republic Bank in the Financial District of Manhattan, Thursday, March 16, 2023. The S&P 500 was 0.8% higher in midday trading after erasing an earlier loss of nearly that much following reports that First Republic Bank could receive financial assistance or sell itself to another bank. (AP Photo/Mary Altaffer)
Eleven of the biggest banks in the country announced a $30 billion rescue package for First Republic Bank on Thursday, in an effort to prevent the California-based bank…
Europe’s central bank hikes interest rates by 50 basis points despite bank chaos
The European Central Bank carried through with a large interest rate increase Thursday, brushing aside predictions it might dial back as US bank collapses and troubles at Credit Suisse feeds fears about the impact of higher rates on the global banking system.
The ECB hiked rates by half a percentage point Thursday, underlining its determination to fight high inflation of 8.5 per cent. In a statement, the bank called the banking sector in the 20 countries using the euro currency “resilient,” with strong finances.
“We are monitoring current market tensions closely and stands ready to respond as necessary to preserve…
Microsoft will add AI tech to office suite programs like Word, Excel
Microsoft Corp. on Thursday trumpeted its latest plans to put artificial intelligence into the hands of more users, answering a space of unveilings this week by its rival Google with upgrades to its own widely used office software.
The technology company previewed a new AI “copilot” for Microsoft 365, its product suite that includes Word documents, Excel spreadsheets, PowerPoint presentations and Outlook emails.
First open to select business customers for testing, AI will offer a draft in these applications, speeding up content creation and freeing up workers’ time, Microsoft said.
The Redmond, Wash.-based company, which is outpacing peers through investments…
Pornhub owner MindGeek bought by private equity firm
An Ottawa-based private equity firm is buying MindGeek, the company behind the popular but controversial online pornography website Pornhub.
The terms of the purchase by Ethical Capital Partners are not being publicly disclosed.
MindGeek, which was founded in Montreal in 2004 and is now headquartered in Luxembourg, includes a large portfolio of adult entertainment properties.
It has been the subject of several high-profile lawsuits in recent years, in light of media reports alleging that Pornhub published sexually exploitative videos. The site deleted millions of explicit videos in response to the scrutiny.
One California lawsuit representing 50 women, including several Canadians,…
New Bradenton tea house promises fresh tastes and surprises
Bradenton
941 Tea House & Mochi Donuts opened in Bradenton’s Oasis Plaza in October, offering fresh and flavored teas, fresh juices, milk teas, lattes, coffees and mochi doughnuts.
[–That, plus a lot more.
[–Jennifer Tran is the owner of the new business at 3300 First St. W., and her menu also includes pho — the famed Vietnamese beef noodle soup, spring rolls, banh mi (sandwiches) and more.
[–Of course, the menu also includes Vietnamese egg rolls. Vegan, pork, shrimp and a combination of pork and shrimp are available.
[–There are surprises, too, like three varieties of…
