Rupert Murdoch calls off proposed Fox-News Corp merger
Rupert Murdoch has withdrawn his proposal to re-combine Fox Corp and News Corp.
Fox said Tuesday its board received a letter from Murdoch, its chairman, and his son and Fox CEO Lachlan Murdoch that “determined that a combination is not optimal for the shareholders” of either of the companies at the time.
The withdrawal proposal comes as News Corp has been in advanced discussions to sell its stake in Move Inc., the parent company of Realtor.com, to commercial real estate company CoStar Groupaccording to a person familiar with the matter.
The deal could be valued at more than $3 billion,…
Delivering Search Personalization With (User) Intent
When it comes to online shopping, search personalization is more important today than ever before. If in 2019 about 60% of shoppers expected to get personalized search results, in 2020 that number increased to 80%. A recent McKinsey report shows that today’s customers don’t just prefer a personalized shopping experience — they demand it.
In 2023, relevance is the name of the game. Search personalization is the basis of positive brand perception, customer engagement and customer loyalty. Shoppers expect to only see relevant results. It’s no longer acceptable to respond to a given query by bombarding the user with generic…
Strong consumer interest seen in Mondelez snacking survey
CHICAGO — Rising costs and economic setbacks haven’t been enough to deter strong consumer interest in snacking, according to Mondelez International, Inc.’s fourth annual State of Snacking report. The report, released Jan. 16, analyzed global consumer snacking habits and decisions.
Overall, the report revealed a maintained interest in snacking that continues to increase. Like in the 2021 report, 64% of consumers continue to prioritize snacking throughout the day over standard mealtimes. Another continued trend is mindful snacking, but this year with an emphasis on environmental consciousness versus 2021’s concern with nutrition and functionality.
The annual State of Snacking report is…
RBC is under pressure to boost capital after OSFI hikes buffer
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Analyst says CIBC also faces scrutiny with the lowest CET1 ratio of the six banks
Author of the article:
Bloomberg News
Geoffrey Morgan
Published June 20, 2023 • Last updated June 21, 2023 • 2 minute read
Royal Bank of Canada and CIBC are under new pressure to bolster its capital levels after OSFI raised the minimum buffer for the largest banks, analysts say. Photo by Cole Burston/Bloomberg
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Royal Bank of Canada is under new pressure to bolster its capital levels after the country’s financial regulator raised the minimum buffer for the largest…
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…
Canadians’ high mortgage debt a ‘ticking time bomb’ as renewals loom
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Variable-rate mortgage borrowers’ payments may climb above 40% in 2026 when they renew, Desjardins says
Published May 31, 2023 • 5 minute read
Household debt levels are expected to soar higher come 2025 and 2026 once homeowners renew their mortgages. Photo by Getty Images/iStockphoto
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Lenders have been offering surprising leniency to variable-rate mortgage borrowers who’ve hit their trigger rate, but that move may be creating a “ticking time bomb” of debt when the time comes to renew, economists from Desjardins Group say.
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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…
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…
