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…
Tupperware shares tank as company warns it may go out of business
Shares in Tupperware have tumbled to their lowest level on record as the iconic food storage company warned investors that it is in danger of going out of business.
The company’s stock price fell by 50 per cent on Monday after the company said in a press release over the holiday weekend that it has hired financial advisors to explore options for the company and to “remediate its doubts regarding its ability to continue as a going concern .”
Shares in Tupperware had been on a downslope for years, as the company’s 77-year-old main business model of selling direct-to-consumers via…
NPR quits Elon Musk’s Twitter over ‘government-funded’ label – Business News
Photo: The Canadian Press
National Public Radio is quitting Twitter after the social media platform owned by Elon Musk stamped NPR’s main account with labels the news organization says undermine its credibility.
Twitter labeled NPR’s main account last week as “state-affiliated media,” a label also used to identify media outlets that are controlled or heavily influenced by authoritarian governments, such as Russia and China. Twitter later changed the label to “government-funded media” and gave it to a few other organizations, such as the Public Broadcasting Service in the US and the British Broadcasting Corporation in the UK
NPR said in…
Tesla sales rise 36% in first quarter, following price cuts – Business News
Tesla sales rise 36%
Tom Krisher, The Associated Press- Apr 2, 2023 / 9:47 am | Stories: 419217
Photo: The Canadian Press
Tesla’s first-quarter vehicle sales rose 36% after the company cut prices twice in a bid to stimulate demand.
The electric car, SUV and heavy truck maker said it delivered 422,875 vehicles worldwide from January to March, up from just over 310,000 a year ago. But the increase fell short of analyst estimates of 432,000 for the quarter, according to FactSet.
Tesla cut prices in early March on its more expensive models, the S and X, by $5,000 to…
Fed raises key rate by quarter-point despite bank turmoil – Business News
Photo: The Canadian Press
File – Federal Reserve chair Jerome Powell speaks during a news conference, Wednesday, Feb. 1, 2023, at the Federal Reserve Board in Washington. With inflation still high and anxieties gripping the banking industry, the Federal Reserve and its chair, Jerome Powell, will face a complicated task at their latest policy meeting Wednesday and in the months to follow: How to tame inflation by continuing to raise interest rates while also helping to restore faith in the financial system – all without triggering a severe recession. (AP Photo/Jacquelyn Martin, Files)
The Federal Reserve extended its year-long fight…
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…
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…
British brewers sell weaker beer but don’t cut prices
LONDON –
Brewers in the United Kingdom are cutting the alcohol content — but not the price — of several of their most popular beers in what’s been described as another example of “shrinkflation.”
Greene King, a major UK brewer and pub chain, has cut the ABV, or alcohol content, of its popular Old Speckled Hen pale ale to 4.8% from 5%, a spokesperson for Greene King told CNN.
In March, the country’s oldest brewer, Shepherd Neame, slashed the ABV of its bottled Spitfire and Bishop’s Finger ales to 4.2% and 5.2% respectively, from 4.5% and 5.4%, a spokesperson said.…
