Tag Archives: business

Coronavirus pandemic causes ‘bleak’ 2020 financial year for Air Canada

[ad_1] MONTREAL — Air Canada posted a staggering $1.16 billion loss in the fourth quarter of 2020, a result that caps off what the company’s chief executive called the bleakest year in aviation history. Despite the losses, Air Canada president and CEO Calin Rovinescu said on a call with analysts Friday morning that he was […]

KPMG’s U.K. boss resigns after telling staff not to ‘sit there and moan’ about the pandemic

[ad_1] The U.K. chairman of accounting firm KPMG is resigning after he told staff in a meeting to stop complaining about the pandemic and said that there was “no such thing as unconscious bias.” In a video of the meeting published by the Daily Mail, Bill Michael can be seen telling employees they “are in […]

Some delivery workers have no choice but to bring their kids along during the pandemic

[ad_1] For Ashley Vincent, a single mom in Binghamton, New York, delivering for DoorDash often requires some negotiation with her seven-year-old son. “We can go out tonight but you can only do six deliveries,” he’ll say. Vincent, a school bus driver, started working for the on-demand food delivery company this fall to supplement her income. […]

WestJet CEO sounds off over government approval of Air Canada purchase of Air Transat

[ad_1] CALGARY — The president and CEO of Calgary-based WestJet Airlines is livid following the Competition Bureau’s approval of Air Canada’s acquisition of Air Transat that he warns will result in increased prices and fewer routes for travellers in Canada. Calling it a decision that shows “blatant disregard for all Canadians who believe in healthy […]

EU aims to release virus recovery fund billions by summer

[ad_1] BRUSSELS — Top European Union officials on Friday urged member countries to swiftly submit plans for how they would use their share of the bloc’s massive coronavirus recovery fund so that the sorely-needed money can be released starting this summer. The call came as the officials signed an agreement on a 672.5 billion-euro ($814 […]

Stock indexes wobble as investor caution offsets optimism

[ad_1] Shares were mixed Friday in Asia after markets closed nearly flat on Wall Street, though the S&P 500 and the Nasdaq composite still logged record highs. Most Asian markets were closed to mark the Lunar New Year. Investors remain cautiously optimistic about prospects for a new round of government aid as the economic recovery […]

Insurers see profit gains despite ‘tough year’ of COVID-19 fatalities

[ad_1] TORONTO — Amid the grim backdrop of COVID-19 fatalities, Canadian insurers have also found some consumers have an increased interest in life and health insurance. Sun Life chief executive Dean Connor said it was a “tough year” as the insurer paid out $200 million to the families of clients who succumbed to COVID-19. But […]

Molson reports $1.37B loss in Q4 as arena, entertainment venue shutdowns continue

[ad_1] MONTREAL — Molson Coors Brewing Co. is betting that strong pent-up demand for live sports and entertainment and the growth of e-commerce sales will buoy the beer giant once the economy reopens post-pandemic. The company’s expansion beyond the beer aisle has also set the stage for future growth, Gavin Hattersley, president and chief executive […]

Elon Musk, the world’s richest man, is about to get a whole lot richer

[ad_1] For a CEO who receives no salary, Elon Musk’s 2020 payday reached sky-high levels. He received four grants to buy 8.4 million Tesla shares in 2020. After paying the exercise price, those blocks of stock options were each worth US$6.2 billion at Wednesday’s closing price. The combined $24.8 billion value of those options alone […]