Canadian economy steady in April as real GDP remains unchanged – Business News
Economy holds steady
The Canadian Press – Jun 30, 2023 / 6:27 am | Stories: 434570
Photo: The Canadian Press
Statistics Canada says the Canadian economy remained essentially unchanged in April, following a slight uptick in March.
The federal agency’s advance estimate suggests real gross domestic product grew 0.4 per cent in May, led by the manufacturing and wholesale trade sectors.
The April figure came in lower than expected by Statistics Canada as services-producing industries were unchanged while goods-producing industries edged up 0.1 per cent.
The Canadian economy is largely expected to stall in the latter half of this year…
Shakeup at Indigo as almost half of the company’s board exits and chair Heather Reisman will also leave soon
Four members of Indigo’s board of directors have abruptly resigned, and the company has announced that chair Heather Reisman will retire this summer.
Indigo Books and Music Inc. says Frank Clegg, Howard Grosfield, Anne Marie O’Donovan and Chika Stacy Oriuwa are no longer on the company’s 11-person board.
In a statement Wednesday, the company indicated that Oriuwa was resigning “because of her loss of confidence in board leadership and because of mistreatment.”
No reason was given for the other exits. “Indigo wishes the departing directors well and thanks each of them for their contributions during their tenure on the board,”…
Bank of Canada rates hike nails in coffin for economy
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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.…
Elizabeth Holmes went to Burning Man, torched an effigy for Theranos, then spent 6 months living in an RV while prosecutors built a case against her for fraudulent business practices
Former Theranos CEO Elizabeth Holmes on November 18, 2022 in San Jose, California.Justin Sullivan/Getty Images
In her first interview since 2016, Elizabeth Holmes told NYT her perspective on her fraudulent business.
Once the company dissolved, she burned an effort for Theranos, then lived in an RV for six months.
The former CEO said she experienced “an incredible sense of grief” over her business failings.
You became the world’s youngest self-made female billionaire based on your fraudulent blood-testing business venture, only to have your house of cards collapse. You are facing prison. What do you do?
You go to Burning Man.…
President Biden jokes to dinner guests if you’re disoriented or confused, you’re either ‘drunk or Marjorie Taylor Greene’
President Joe Biden laughs as he speaks during the White House Correspondents’ Association dinner at the Washington Hilton in Washington, Saturday, April 29, 2023.Carolyn Kaster/AP Photo
Biden mocked Rep. Marjorie Taylor Greene during his White House Correspondents’ Dinner speech.
He said that if the guests felt confused, they would either “drunk or Marjorie Taylor Greene.”
Biden also poked fun at his political rivals and himself at the annual event.
President Joe Biden made a jibe at Rep. Marjorie Taylor Greene during his speech at the White House Correspondents’ Dinner on Saturday night, suggesting the congresswoman was “confused.”
“I want everyone…
Lyft gears up to make ‘significant’ layoffs under new CEO – Business News
Photo: The Canadian Press
FILE – A Lyft ride-hailing vehicle is parked near Empower Field at Mile High in Denver on April 30, 2020. (AP Photo/David Zalubowski, File)
Lyft is preparing to lay off hundreds of employees just days after new CEO David Risher began steering the ride-hailing service with an eye toward driving down costs to help bring its fares more in line with its biggest rival, Uber.
Risher, a former Amazon executive, informed Lyft’s workforce of more than 4,000 employees in an email posted online Friday that a “significant” number of them would lose their jobs. It came…
McDonald’s reportedly temporarily shuts its US corporate offices ahead of layoffs
McDonald’s Corp is temporarily closing its US offices this week as it prepares to inform corporate employees about its layoffs as part of a broader company restructuring, the Wall Street Journal reported Sunday.
In an internal email last week to US employees and some international staff, McDonald’s asked them to work from home from Monday through Wednesday so it can deliver staffing decisions virtually, the report said. It is unclear how many employees will be laid off.
“During the week of April 3, we will communicate key decisions related to roles and staffing levels across the organization,” the Chicago-based company…