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Rupert Murdoch has withdrawn his proposal to re-combine Fox Corp and News Corp.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,…
Gay Water launches to support LGBTQ2S+ people
In a sea of canned cocktails, Gay Water wants to stand out.
Launching Thursday is a brightly colored canned vodka and soda beverage that proudly displays who it’s for, instead of backing off from support for the LGBTQ2S+ community as other companies have done in recent months. In other words, where Bud Light has buckled under pressure as bigotry grows against the LGBTQ2S+ community, Gay Water’s creator Spencer Hoddeson wants his new boozy brand to be the antithesis of that.
“The key issue that Bud Light tapped into was the fact that they didn’t understand their core audience and know…
Regulator lays out proposed changes to passenger rights charter – Business News
Changes to passenger rights
The Canadian Press – Jul 11, 2023 / 9:44 am | Stories: 436290
Photo: The Canadian Press
The Canadian Transportation Agency is laying out proposed changes to the passenger rights charter.
The reforms came after the Liberal government passed legislation last month to toughen penalties on airlines, shore up the complaint process and target flight disruption loopholes that have allowed airlines to avoid traveler compensation.
The amendments to the Air Passenger Protection Regulations spell out the circumstances when an airline would not have to compensate customers, narrowing the field so that most technical problems will no…
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…
The Bank of Canada is expected to raise interest rates once more, cap at 5%
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The Bank of Canada will raise borrowing costs by another 25 basis points in coming months before capping its tightening cycle, economists said.
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Canada’s central bank will increase its key overnight rate to five per cent in the third quarter, according to a monthly Bloomberg survey of 25 economists. That would be the highest level since 2001.
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The outlook still more or less shows the economy headed for a so-called soft landing as policy makers push rates deeply into restrictive territory. Analysts raised their expectations for growth in 2023 to 1.3 per cent from…
Bell asks CRTC to drop local news requirements
TORONTO –
BCE Inc.’s media arm is asking the federal telecommunications regulator to waive local news and Canadian programming requirements for its television stations, saying its obligations are based on outdated market realities.
In an application to the CRTC filed June 14, Bell Media requested the regulator drop requirements for spending on local news and on the number of hours per week that stations are required to broadcast locally reflecting news in major and smaller markets.
The application was filed the same day Bell announced it was cutting 1,300 positions, shutting or selling nine radio stations and closing two foreign…
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.…
Visa and MasterCard agreed to lower the average credit card interchange fee below 1%
The government has announced new details of an agreement with Visa and MasterCard that will see them lower the amount that they charge retailers when a customer pays for a purchase with a credit card.
Known as so-called interchange fees, they have long irritated merchants by allowing the credit card company to keep a percentage of each sale, instead of a flat fee for each transaction.
On Thursday, the government announced a deal with the two card companies that will reduce interchange fees for in-store transactions to 0.95 per cent, on average.
That means on a $100 purchase, if a…
