DavidsTea Inc. may pursue formal restructure, hasn’t paid rent in three months

DavidsTea Inc. may pursue formal restructure, hasn’t paid rent in three months
MONTREAL — DavidsTea Inc. says it may pursue a formal restructuring that partly depends on landlord negotiations as the company looks to close some of its unprofitable locations. “Our challenge is to execute on our strategy to restructure our North American retail footprint in order to decrease the ongoing losses caused by unprofitable stores,” said Herschel Segal, interim chief executive,... Read More

Fitch downgrades Air Canada over expected slow recovery for international travel

Fitch downgrades Air Canada over expected slow recovery for international travel
CHICAGO — Fitch Ratings has downgraded Air Canada because of an expected slower recovery in demand from the COVID-19 pandemic, especially for international travel. The Chicago-based ratings agency downgraded the airline’s long-term issuer default rating to BB negative from BB and its unsecured notes to B+/RR5 from BB/RR4. Fitch says the country’s largest airline is in a strong liquidity position... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (15,359.66 , up 103.09 points.) Bombardier Inc. (TSX:BBD.B). Industrials. Down six cents, or 11.54 per cent, to 46 cents on 20.1 million shares. Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Down 45 cents, or 1.85 per cent, to $23.89 on 14.1 million shares. Air Canada (TSX:AC). Industrials. Down 86... Read More

North American bounce back following additional intervention from U.S. Fed

North American bounce back following additional intervention from U.S. Fed
TORONTO — North American stock markets bounced back from early pandemic-induced anxieties following a further intervention from the Federal Reserve. The S&P/TSX composite index closed up 103.09 points at 15,359.66 after dipping to a low of 14,934.71. In New York, the Dow Jones industrial average gained 157.62 points at 25,763.16. The S&P 500 index was up 25.28 points at 3,066.59, while the Nasdaq... Read More

Bombardier to be dropped from S&P/TSX composite index, shares down

Bombardier to be dropped from S&P/TSX composite index, shares down
TORONTO — Bombardier Inc. shares fell nearly 10 per cent in midday trading Monday after news that it will be dropped from the S&P/TSX composite index, adding to the plane-and-train maker’s list of woes. S&P Dow Jones Indices said Friday after markets closed that Bombardier and 13 other companies would be removed from the index on June 22. The firms also included cannabis... Read More

Shopify and Walmart team up to take on shared competitor: Amazon.com

Shopify and Walmart team up to take on shared competitor: Amazon.com
Shopify Inc. is upping the ante in its battle against Amazon.com Inc. by aligning itself Walmart Inc. in its fight with the Seattle online retailer. The Ottawa-based e-commerce giant, whose software powers online stores for more than one million companies, on Monday announced the partnership, which will allow U.S. merchants to sell their products on Walmart’s website. By the end of the year,... Read More

Cineplex shares drop 20 per cent as Cineworld acquisition deal falls apart

Cineplex shares drop 20 per cent as Cineworld acquisition deal falls apart
TORONTO — Shares of Cineplex Inc. tumbled more then 20 per cent Monday in the first trading session since a $2.8-billion acquisition by Cineworld PLC fell apart. The country’s largest movie exhibitor dropped $2.85 to $10.97 per share in morning trading on the Toronto Stock Exchange. The drop comes after Cineplex and U.K.-based theatre chain Cineworld clashed late Friday as both sides disclosed what they alleged... Read More

Employee care key to brand reputation during COVID-19, consumer survey finds

Employee care key to brand reputation during COVID-19, consumer survey finds
As the COVID-19 pandemic shut down large parts of the economy and upended the way many companies do business, Canadian consumers were watching, and judging. The Gustavson School of Business at the University of Victoria’s annual brand trust study tracks consumer trust in hundreds of brands across five measures, including consumer perceptions of the brand’s social responsibility and how it... Read More

Nissan banks on new Rogue small SUV to begin US comeback

Nissan banks on new Rogue small SUV to begin US comeback
DETROIT — There’s a lot riding on the Nissan Rogue, the struggling Japanese automaker’s top-selling vehicle in the hottest part of its second-biggest market, the United States. The small SUV has been redesigned for the 2021 model year, and a replacement can’t come fast enough for a company battered by falling sales, mounting losses, a financial scandal and a model... Read More