Business

Duane, left, and Dave MacDonald, co-owners of Callbecks Home Hardware and now Leon’s Summerside, celebrated the latter’s official opening on April 17. Their company purchased the Leon’s franchise for P.E.I. from D.P. Murphy earlier this year and subsequently relocated it from Charlottetown to Summerside. Colin MacLean

Leon's furniture store completes relocation from Charlottetown to Summerside

The cutting of a bright yellow ribbon has marked a homecoming for a long-time Summerside business. Dave MacDonald held the scissors; he is co-owner, along with his brother Duane, of Callbecks Home Hardware and its associated family of businesses. On ...

Updated 28 minutes ago |5 min read

Centralized application for renters in P.E.I. could lead to privacy concerns, tenant blacklist: advocate

Updated a day ago |5 min read

Ryan MacRae, an organizer with P.E.I. Fight for Affordable Housing, questions the intent behind a new application renters can use to reach a group of landlords. Logan MacLean • The Guardian

Canada aims to attract Honda and others with EV tax incentives

Updated 19 hours ago |6 min read

Honda Motor Co's auto plant in Alliston, Ontario. Honda is reportedly close to a major EV deal with the Canadian government.

BDC employees paid over $250 million in bonuses since 2019: documents

Updated Apr. 20, 2024 |4 min read

Canada's planned capital gains tax hike may choke mining startups, dealmakers say

Updated 18 hours ago |2 min read

Canadian competition bureau has major concerns about proposed Bunge-Viterra merger

Updated 9 minutes ago |1 min read

Coca-Cola signs $1.1 billion deal to use Microsoft cloud, AI services

Stephen Nellis |Updated 19 minutes ago |1 min read

By Stephen Nellis (Reuters) - Microsoft said on Tuesday that Coca-Cola had signed a $1.1 billion five-year deal to use its cloud computing and artificial intelligence services. Under the agreement, Microsoft and Coca-Cola will "jointly ...

A woman walks near the fashion dome at the shopping center Mall of the Emirates in Dubai, January 11, 2012.

Saudi Arabia's 2024 economic growth forecast cut; UAE leads GCC

Anant Chandak |Updated 28 minutes ago |2 min read

By Anant Chandak BENGALURU (Reuters) - Saudi Arabia's economy will grow at a slower pace this year than previously predicted as oil prices drop from recent peaks, according to a Reuters poll which also showed the United Arab Emirates (UAE) ...

Top 10 issuers dominate US active ETF marketplace, Morningstar says

Suzanne McGee |Updated 47 minutes ago |2 min read

By Suzanne McGee (Reuters) - Assets invested in actively managed U.S. exchange traded funds soared 15% to $611 billion in the first quarter, Morningstar said in a report published on Tuesday, but the vast majority of that money flowed into funds ...

Insurer W R Berkley's profit jumps on robust underwriting, investment returns

Reuters |Updated 47 minutes ago |1 min read

(Reuters) - Commercial insurer W R Berkley said on Tuesday its first-quarter profit rose 50% due to strong returns from its investments and a stronger underwriting performance. Higher interest rates have boosted insurers' earnings on their debt ...

Signage is seen at the Federal Trade Commission headquarters in Washington, D.C., U.S., August 29, 2020.

Williams-Sonoma is fined by US FTC over 'Made in USA' claims

Jonathan Stempel |Updated 59 minutes ago |2 min read

By Jonathan Stempel (Reuters) - Williams-Sonoma will pay a $3.18 million civil fine to settle U.S. Federal Trade Commission charges it violated a July 2020 order by falsely claiming that some of its products were "Made in USA." An order ...

Sherwin-Williams misses Q1 profit target as demand in North America drags

Reuters |Updated 1 hour ago |2 min read

(Reuters) - Paintmaker Sherwin-Williams missed Wall Street estimates for first-quarter profit on Tuesday due to lower sales in North America, sending shares of the company nearly 5% lower in premarket trading. US existing home sales fell in March ...

Invesco quarterly profit declines on lower management fees

Reuters |Updated 1 hour ago |1 min read

(Reuters) - Invesco on Tuesday reported a 14.4% drop in first-quarter profit as the asset manager's fees took a hit from customers shifting towards lower-yield products. Investment management fees, the company's chief revenue source, dipped 1.9% ...

Fiserv lifts annual profit forecast on strong consumer spending

Reuters |Updated 1 hour ago |1 min read

(Reuters) - Payments firm Fiserv raised its annual profit forecast and topped Wall Street estimates for first-quarter results on Tuesday, helped by strong consumer spending, sending its shares up 2.7% before the bell. Consumer spending, supported ...

Fisker may seek bankruptcy protection in 30 days if unable to meet debt obligations

Reuters |Updated 1 hour ago |2 min read

(Reuters) - Fisker may have to file for bankruptcy protection within 30 days if it does not get adequate relief from its creditors and enough liquidity to meet its current debt obligations, it disclosed in a regulatory filing on Tuesday. The ...

People use self-checkout counters at a Metro Cash and Carry hypermarket in Moscow, Russia December 22, 2023.

Russian ministry sees 2024 GDP at 2.8%, but with higher inflation, weaker rouble

Reuters |Updated 1 hour ago |3 min read

(Reuters) - Russia's economy ministry improved its expectations for 2024 gross domestic product (GDP) growth to 2.8% from 2.3% in new forecasts published on Tuesday, while envisaging a weaker rouble and shrinking current account surplus in the ...