CLEVELAND – McDonald’s will pay US$33.5 million to a former baseball player who owns multiple franchises to end a lawsuit he brought against the company accusing it of racial discrimination. Herb Washington, who is Black, owned more than a dozen restaurants in Ohio and Pennsylvania when he filed a lawsuit in February that […]
Category Archives: Business
DUBAI, United Arab Emirates – Emirati billionaire Majid Al Futtaim, who rose from working as a bank clerk to creating an eponymous business empire most known for its massive Dubai mall with an indoor ski slope, died on Friday. Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum announced Al Futtaim’s death in a […]
Calgary – The WestJet Group says Austrian Airlines CEO Alexis von Hoensbroech has been named as its next chief executive. The airline says von Hoensbroech’s official start date is subject to a successful immigration process, which is expected to be completed before the end of the first quarter of 2022. Von Hoensbroech […]
With inflation surging, the Bank of Canada is likely to change its interest rate guidance in the new year so that it has the option to raise borrowing costs earlier than planned despite the threat the Omicron variant poses to growth, analysts said. Last week when it left the key overnight rate at […]
BANGKOK – Shares fell in Asia on Friday after technology companies led Wall Street benchmarks lower as investors weighed the implications of higher interest rates, surging coronavirus cases and tensions between Beijing and Washington. Tokyo, Hong Kong, Shanghai declined, but shares rose in Sydney. U.S. shares dropped a day after the Federal […]
Alphabet Inc is shutting down Sidewalk Labs after the founder and chief executive of the unit developing smart-city technology disclosed that doctors say he may have the amyotrophic lateral sclerosis, known as ALS or Lou Gehrig’s Disease, a deadly neurodegenerative condition. Alphabet said its Google unit will take over the Sidewalk Labs projects, […]
Melania Trump is getting in on the latest crypto craze — NFTs. The former U.S. first lady announced Thursday that she is selling an NFT, or a non-fungible token, titled “Melania’s Vision” — her first public endeavour since leaving office almost one year ago. The NFT is the first digital art to […]
Apple will delay bringing its workers back to the office until a “yet to be determined” date, while giving all of its corporate and retail employees US$1,000 to buy equipment for their home offices. The development was shared with Apple employees in an email from CEO Tim Cook on Wednesday, according to multiple […]
Toronto – For the past year, a pandemic induced shortage of semiconductor chips has rocked global supply chains, affecting the production of cars, game consoles, home appliances and more. But while there are signs that production constraints for semiconductors are beginning to loosen, experts say it could take another year or more for […]
Stocks climbed in Asia on Thursday, tracking Wall Street’s gains, after the Federal Reserve said it would accelerate its pullback of economic stimulus. The Fed said it would likely raise interest rates three times next year to tackle rising inflation and will shrink its monthly bond purchases at twice the pace it previously […]