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Unrealistic economic cheerleading is no solution to a lingering COVID-19 crisis: Don Pittis

CBC Business News - 6 hours 8 min ago

Despite enthusiasm from people like the U.S. president, hopes for a short, sharp downturn followed by recovery may have been thwarted by growing signs of damage to the underlying economy, especially in the U.S.

Trump gives Microsoft 45 days to land TikTok deal after threatening to ban Chinese-owned video app

CBC Business News - Mon, 08/03/2020 - 12:12

U.S. President Donald Trump said on Monday he does not mind if Microsoft Corp. buys the Chinese-owned short-video app TikTok, but any purchase by an American company would have to be done by a Sept. 15 deadline.

More corporate meetings to go virtual after success during pandemic

CBC Business News - Mon, 08/03/2020 - 10:29

Any shareholder who's ever endured hours of travel to attend a company's annual meeting is in for good news in the wake of the COVID-19 pandemic.

Microsoft, other big tech companies lead early gains on Wall Street

CBC Business News - Mon, 08/03/2020 - 08:15

Wall Street is starting August with more gains, and U.S. stocks are climbing in early Monday trading following encouraging reports from around the world on the economy.

Microsoft vows to continue efforts to buy TikTok from ByteDance

CBC Business News - Sun, 08/02/2020 - 16:52

Microsoft said on Sunday that it would continue discussions to acquire popular short-video app TikTok from Chinese internet giant ByteDance, and that it was aiming to conclude the negotiations by Sept. 15.

Report shows cellphone bills aren't getting cheaper; FAQ about COVID testing: CBC's Marketplace cheat sheet

CBC Business News - Sun, 08/02/2020 - 06:00

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

The Canada-U.S. border could be closed for months. Here's what you need to know now

CBC Business News - Sun, 08/02/2020 - 01:00

Here’s the latest on what you need to know about Canada-U.S. border rules and why your neighbours to the south may not be visiting for a while.

Economies struggle to bounce back, the future of work | Business Panel

CBC Business News - Sat, 08/01/2020 - 09:52

Our weekend business panel discusses the economic situation in Canada and the U.S. in the midst of the coronavirus pandemic. Plus, with many companies allowing their employees to continue working from home until 2021, what does that mean for the future of the workplace?

Uncharted territory: How Windsor-Essex businesses are surviving an unprecedented recession

CBC Business News - Sat, 08/01/2020 - 05:00

As a 41-year-old staple in downtown Windsor, family-run La Guardia restaurant has survived its fair share of recessions, but owner Michael Ciliberto says none compare to the one brought on by COVID-19. 

Canadian-American couple devastated after Canada won't recognize their FaceTime wedding

CBC Business News - Sat, 08/01/2020 - 01:00

A woman from Ontario and her American groom are crestfallen that Ottawa won’t recognize their marriage — performed via FaceTime as they took part in different countries — and allow him to enter Canada during the COVID-19 pandemic.

Trump vows to ban TikTok app from U.S.

CBC Business News - Fri, 07/31/2020 - 19:49

U.S. President Donald Trump said he will take action as soon as Saturday to ban TikTok, a popular Chinese-owned video app that has been a source of national security and censorship concerns.

Federal documents say Huawei's Meng Wanzhou lied, supporting her extradition to U.S.

CBC Business News - Fri, 07/31/2020 - 16:08

Documents from lawyers for Canada's attorney general say a series of witnesses will prove Huawei executive Meng Wanzhou lied to HSBC bank about the company's relationship with Skycom in Iran.

Microsoft reportedly in talks to buy TikTok as Trump mulls ban on video sharing app

CBC Business News - Fri, 07/31/2020 - 13:00

Even as Microsoft is reportedly in talks to buy TikTok, U.S. President Donald Trump on Friday said he was looking at lot of alternatives regarding the video app owned by Chinese firm ByteDance, including the possibility of a ban.

Ottawa poised to extend commercial rent relief into August

CBC Business News - Fri, 07/31/2020 - 07:16

Many small businesses have reopened after pandemic closures but are far from their normal sales. Some, like a family salon in Brampton, Ont., are counting on rent relief to survive.

Canada's GDP bounced back in May, but it was still 15% below where it was before COVID-19

CBC Business News - Fri, 07/31/2020 - 06:29

Canada's economy expanded by 4.5 per cent in May, a strong bounceback from the low hit in April, but still 15 per cent below the level it was at in February, before COVID-19 hit.

Air Canada posts $1.7B quarterly loss as COVID-19 walloped travel demand

CBC Business News - Fri, 07/31/2020 - 05:43

Air Canada is reporting a $1.75 billion loss in its latest quarter as revenues plummeted 89 per cent as a result of the grounding of most flights due to the COVID-19 pandemic.

Twitter says hackers used phone to fool staff, gain access

CBC Business News - Fri, 07/31/2020 - 04:39

Twitter says the hackers responsible for a recent high-profile breach used the phone to fool the social media company's employees into giving them access.

Facing financial ruin from COVID-19, language schools pitch plan to safely bring 40,000 students into Canada

CBC Business News - Fri, 07/31/2020 - 01:00

Facing financial ruin due to the COVID-19 pandemic, Canada's language schools have proposed an ambitious plan to bring 40,000 foreign students into Canada over the next few months to learn English and French.

Air Transat to cancel all flights from Western Canada to U.S., sun destinations this winter

CBC Business News - Thu, 07/30/2020 - 19:16

Air Transat plans to cancel all flights from Western Canada to sun destinations and the United States this winter, with refunds en route to customers — a policy about-face in the COVID-19 era.

DavidsTea will only reopen 18 stores in Canada, down from 186 before pandemic

CBC Business News - Thu, 07/30/2020 - 09:57

DavidsTea's shift to selling primarily online will see the chain reopen 18 stores across Canada, a significant drop from the 186 it had before it closed all of its locations when COVID-19 hit.

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