Business

BRUSSELS – The biggest crisis in the world economy in almost a century was caused by the coronavirus pandemic, the effects of which are being recovered from only after four years. After the first Covid-19 case was detected in the Chinese city of Wuhan at the end of 2019, the virus …

Ikea has announced it will be lowering many of its prices as 2024 kicks off, with retail and marketing experts say it is a change consumers will welcome that could potentially drive sales for the global furniture giant.  Competitors might have difficulty matching Ikea’s move, retail analyst says. As many …

The Bank of Canada says record levels of immigration are driving up the cost of housing and recent government efforts to cut the number of non-permanent residents and encourage home building will help lower housing costs, but “only gradually.”  Record immigration has pushed up housing costs, sent vacancy rates to …

Netflix is fully eliminating the cheapest plan available to Canadians on the streaming platform without advertisements, cutting it off from existing subscribers after making it unavailable to new customers last summer.  Streaming giant also beat analyst expectations, with millions of new customers. Netflix told investors it has added millions of …

Home improvement retailer is consolidating operations and will close distribution centres in Terrebonne, Que., and Calgary, with the job losses coming months after 500 job cuts last year following acquisition by private equity firm Sycamore Partners.  Most of the job losses will be in Quebec. Rona Inc. says it’s cutting …

The mid-air blowout of a Boeing 737 Max 9 earlier this month has prompted renewed scrutiny of the airplane manufacturer and its commitment to safety. Aviation experts suggest the company and its manufacturing practices need close scrutiny Toronto resident Chris Moore, whose daughter Danielle was killed in the Ethiopian Airlines …

The Department of Energy (DOE) seeks the early decommissioning or repurposing of 20-year old coal-fired power plants with a combined capacity of 3,800 megawatts as part of the country’s transition to clean energy. “The criteria for prioritizing coal-fired power plants are be overlayed with the potential impact on regional grids; …

HONG KONG — Themed “Multilateral Cooperation for a Shared Tomorrow,” the Asian Financial Forum (AFF) commenced on Wednesday at the Hong Kong Exhibition and Convention Centre. The AFF serves as an annual platform for financial leaders worldwide to get together, address economic challenges, and discuss opportunities for collaborative and mutual …

Netflix has signed a multi-billion dollar deal to put WWE and its flagship show Raw on the streaming platform starting in 2025.  Starting in 2025, streaming giant will be the home of World Wrestling Entertainment. Netflix took a big step into live events on Tuesday with a more than $6.7 …

Data released by the central bank yesterday showed foreign borrowings approved by the BSP amounted to $14.49 billion in 2023, $4.17 billion higher than the $10.32 billion obtained in 2022 from foreign lenders./Edd Gumban  MANILA, Philippines — Foreign borrowings approved by the Bangko Sentral ng Pilipinas (BSP) jumped by more …