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Facebook is in for a rough week, but its latest financial results show it's still raking in the cash

CBC Business News - 8 hours 49 min ago

Facebook posted quarterly results on Monday that showed the social media giant is making more money than ever, even as its critics have never been louder.

Hertz to buy 100,000 Teslas for its rental fleet by next year

CBC Business News - 9 hours 21 min ago

Hertz announced Monday that it will buy 100,000 electric vehicles from Tesla, one of the largest purchases of battery-powered cars in history.

Facebook knew about and failed to police abusive content globally: documents

CBC Business News - 15 hours 35 min ago

Facebook employees have warned for years that as the company raced to become a global service, it was failing to police abusive content in countries where such speech was likely to cause the most harm, according to interviews with five former employees and internal company documents viewed by Reuters.

Canadian supply delays come as a warning that future interruptions could be worse

CBC Business News - 21 hours 24 min ago

As some goods disappear from shelves, Canadians are realizing how dependent our economy is on producers far away. Advocates say economics — and national security — depend on finding ways to make the supply chain more resilient.

Edward Rogers says he'll go to B.C. Supreme Court to win back control of Rogers Communications

CBC Business News - Sun, 10/24/2021 - 22:45

The ousted chairman of Rogers Communication Inc. says he'll go to the British Columbia Supreme Court in a bid to wrest back control of the company.

The truth about CBD; Instacart workers speak out: CBC's Marketplace Cheat Sheet

CBC Business News - Sun, 10/24/2021 - 06:00

CBC's Marketplace rounds up the consumer and health news you need from the week.

Edward Rogers's attempt to name new directors goes against B.C. law, telecom says

CBC Business News - Sat, 10/23/2021 - 11:44

Rogers Communications says it rejected a move by former chair Edward Rogers to name a slate of new directors because it contravened laws in British Columbia.

Bulk buying, couponing and urban farming: 3 ways of fighting high food prices

CBC Business News - Sat, 10/23/2021 - 01:00

Bulk buying, couponing and urban farming are three ways of fighting high food prices, tied to inflation. But experts say community organizations and individuals can’t solve the problem of hunger and poverty on their own.

Simmering Canada-U.S. trade dispute erupts into the open

CBC Business News - Fri, 10/22/2021 - 13:48

An emerging trade irritant between Canada and the U.S. that's been quietly simmering for months has now bubbled into the open. The Canadian government sent a letter to U.S. officials expressing dismay over a proposal involving autos, and hinting that it might prompt a trade action.

'This story may not be over': Edward Rogers seeking to boot 5 members of Rogers board

CBC Business News - Fri, 10/22/2021 - 07:21

Despite being removed as chair of the company that bears his name, Edward Rogers is not giving up in his battle for control, and is looking to get rid of five members of the board.

Teetering Chinese property giant Evergrande makes $83M payment to avoid default — for now

CBC Business News - Fri, 10/22/2021 - 06:30

China Evergrande Group appeared to have averted default with a last-minute bond coupon payment, a source said on Friday, buying it another week to deal with a debt crisis looming over the world's second-biggest economy.

Fatal Tesla crash in Texas had a driver behind the wheel, probe finds

CBC Business News - Thu, 10/21/2021 - 11:00

A driver was behind the wheel when a Tesla electric car crashed and burned last April near Houston, killing two men, neither of whom was found in the driver's seat. The National Transportation Safety Board has not yet determined whether autopilot was engaged during the fatal trip.

'This is Canada's Succession' — Rogers turmoil surfaces as telco family heir tries and fails to oust CEO

CBC Business News - Thu, 10/21/2021 - 07:55

Rogers Communications Inc. is setting up a three-person committee to manage interactions between the company's CEO and the chair of the board after a messy battle behind the scenes for control of the company.

I'm a burnt-out barista, and I don't know if I'll return to my minimum wage job

CBC Business News - Thu, 10/21/2021 - 01:00

Even before the pandemic, young people were speaking out about the low minimum wage, writes 21-year-old Chloe Peel. The pandemic has made working a service job that much harder.

How a big win for a First Nation in B.C. could bring change for resource development in Canada

CBC Business News - Thu, 10/21/2021 - 01:00

First Nations, industry and legal experts are examining what the outcome of a B.C. court decision could mean elsewhere, including future development near Alberta’s massive oilsands.

PayPal reportedly offers $45B to buy Pinterest

CBC Business News - Wed, 10/20/2021 - 12:13

PayPal Holdings Inc. has made an offer to buy digital pinboard site Pinterest Inc for $45 billion, people familiar with the matter said on Wednesday, a combination that could herald more tie-ups between financial technology and social media companies in e-ecommerce.

Facebook to rebrand itself and focus on the metaverse

CBC Business News - Wed, 10/20/2021 - 08:24

Facebook Inc., under fire from regulators and lawmakers over its business practices, is planning to rebrand itself with a new name for its parent company that focuses on the metaverse, the Verge reported on Tuesday.

Bitcoin hits new all time high above $66,000 US

CBC Business News - Wed, 10/20/2021 - 07:27

Bitcoin rose to a new all time high above $66,000 US on the first futures-based exchange-traded fund (ETF) launched this week.

Canada's inflation rate jumps to new 18-year high of 4.4%

CBC Business News - Wed, 10/20/2021 - 05:49

Canada's inflation rate rose to a new 18-year high of 4.4 per cent in September, with higher prices for transportation, shelter and food contributing the most to the jump in the cost of living.

How the COVID-19 microchip shortage has brought Canada's car industry to a halt — again

CBC Business News - Wed, 10/20/2021 - 01:00

A shortage of computer chips produced overseas is having a lasting impact in Canada, not only on consumers looking to buy a new car, but also on the people who make them.

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