Angelo’s is closing, Crazy Wisdom is reopening and other Washtenaw County business news
WASHTENAW COUNTY, MI — Big news has been happening recently for businesses in and around Ann Arbor.
Some longtime businesses are calling it quits after spending decades serving customers, while others are making their debut. There is even one beloved Ann Arbor book store that’s planning to return after closing in 2022.
Here are some recent business news you might have missed.
Angelo’s Restaurant to close as University of Michigan plans $4.5M purchase
By December, people will no longer be able to enjoy the deep-fried French raisin toast or sandwiches at Angelo’s Restaurant in Ann Arbor.
Related: ‘I will think…
The Bank of Canada is more worried than usual about debt loads
The Bank of Canada is more worried than it was last year about household debt loads, and is concerned about the abilities for households to stay on top of them in the coming years once mortgages renew at higher rates.
That’s one of the main takeaways of the bank’s Financial System Review, an annual assessment of various risks the bank desires to be of concern to the stability of Canada’s financial system.
While the bank highlighted the risks of cybersecurity attacks, the ongoing global banking crisis and climate change, the risk presented by growing mortgage debt was a recurring theme…
Chile’s plan for state control in lithium dismays business
SANTIAGO, Chile (AP) — The Chilean government’s newly announced plan to have the state take a majority stake in the lithium industry disconcerted business leaders, though analysts cautioned that the proposal appears to try to strike a middle ground between competing interests.
President Gabriel Boric announced in a national broadcast Thursday night that private companies will have to partner with the government in exploiting Chile’s lithium, a metal used to make rechargeable batteries.
Boric said the state would take a controlling interest in each partnership, leading some to call it a nationalization of the industry, while others disagreed.
“Phrising it…
Angry Fox News chief said fact-checks of Trump’s election lies ‘bad for business’ | FoxNews
The top executive at Fox News was furious one of the network’s reporters was fact-checking Donald Trump’s false claims about the 2020 election, writing in a December 2020 email that it was “bad for business”.
Suzanne Scott, the chief executive of Fox News, was responding in early December 2020 to an on-air fact-check by Eric Shawn, one of the network’s anchors. “This has to stop now,” she wrote to Meade Cooper, another Fox executive. “This is bad business and there is clearly a lack of understanding [sic] what is happening in these shows. The audience is furious and we are…
Tucker Carlson leaves Fox News days after Dominion lawsuit settlement
April 24 (Reuters) – Fox News Media and its top-rated host Tucker Carlson have agreed to part ways, less than a week after parent company Fox Corp (FOXA.O) settled for $787.5 million a defamation lawsuit in which Carlson played a starring role roles.
The outspoken Carlson embraced conservative issues and delivered his views with a style that made his prime-time show, “Tucker Carlson Tonight”, the highest-rated cable news program in the key 25-to-54 age demographic on the most-watched US cable news network. Shares of Fox closed 2.9% lower on the news, which the company announced on Monday.
Dominion Voting Systems…
Does Canada really need a digital loonie?
The Bank of Canada is wading into the fraught and controversial world of digital currencies, launching public consultations this week into how Canadians might use a digital dollar.
“We’ve been researching a digital dollar for quite a while now,” said Carolyn Rogers, the senior deputy governor of the central bank. “And we’re at a point where we need help from Canadians, we need to understand what Canadians want.”
And yet the bank maintains there is neither a need nor a plan to launch a digital loonie.
So, why bother with the public consultations at all?
Rogers says more transactions are…
How Ryan Reynolds became Canada’s unlikeliest business mogul
UPDATE: After this story was originally published, Wrexham Football Club — which Ryan Reynolds and actor Rob McElhenney bought in 2021 — qualified for the fourth tier of the English football league system.
The business of Ryan Reynolds is booming. He bought into Montreal payment technology company Nuvei this week. He recently sold Mint Mobile for $1.7 billion. He offloaded his gin company for another $825 million.
But the jewel in Reynolds’ business crown may be a floundering Welsh soccer club he bought with fellow actor Rob McElhenney in 2021 for $3 million.
For years, Wrexham Football Club has been…
Important team and business changes
Team –
We are changing the shape of Shopify significantly today to pay unshared attention to our mission. There are a number of consequences to this, and I don’t want to bury the lede: after today Shopify will be smaller by about 20% and Flexport will buy Shopify Logistics; this means some of you will leave Shopify today. I recognized the crushing impact this decision had on some of you, and did not make this decision lightly.
In the next 5 minutes you’ll get a follow up that tells you if you are affected. There’s no way to make this…
