Rogers Offers Buyouts to Half Its 25,000 Employees
Rogers Communications (TSX: RCI-b) has launched a sweeping cost-cutting initiative, offering voluntary departure packages to roughly 50% of its 25,000-strong workforce, marking one of the largest buyout programs in the Canadian telecom sector in recent memory. The Toronto-based company announced the move on Monday as it grapples with slowing revenue growth across the industry and […]
Carney Looks To Trade Regulatory Support For A Cut Of The Profits With New Wealth Fund
Prime Minister Mark Carney has unveiled the Canada Strong Fund, the country’s first sovereign wealth fund, with an initial endowment of $25 billion aimed at securing a share of profits from major nation-building projects, including those in resource-rich provinces like Alberta and Saskatchewan. The fund, announced at the Canada Science and Technology Museum in Ottawa, […]
US and UAE Fund Congo’s $100M Push to Secure Critical Mineral Mines
The Democratic Republic of Congo is set to deploy a $100 million paramilitary force to secure its vast mining sector, with backing from the United States and the United Arab Emirates. The initiative aims to combat smuggling and stabilize operations in a country that stands as the world’s leading cobalt producer and Africa’s top copper […]
Marilyn Gladu “Betrayed Her Constituents,” Says Poilievre
Conservative Leader Pierre Poilievre’s leadership is again being tested by Conservative defections after he told CTV that Marilyn Gladu’s move to the Liberals was “betrayal,” rejecting the idea that her departure showed a deeper caucus confidence problem. In the CTV interview, Poilievre was asked whether his “entire caucus” still supported his leadership. He answered by […]
Real Brokerage to Acquire Re/Max in $880 Million Deal to Build Global Real Estate Platform
Miami-based The Real Brokerage (NASDAQ: REAX) has struck a deal to acquire Remax Holdings (NYSE: RMAX) for approximately $880 million, creating a global real estate platform that merges AI tech with an expansive franchise network. The combined entity, to be named Real Remax Group, will unite Real’s AI-driven brokerage tools with Remax’s network of over […]
Adidas Shares Spike As Its Shoes Fit London Marathon Winners
Adidas shares rose Monday after three London Marathon podium-shaking performances gave the German sportswear company a rare clean win in the supershoe race against Nike. Kenya’s Sabastian Sawe became the first athlete to run a marathon under two hours in an official race, finishing Sunday’s London Marathon in 1:59:30 while wearing Adidas’ new Adizero Adios […]
Probe $300 Million PrescribeIT Federal Spending, MPs Demand
Conservative MPs are asking the Auditor-General to investigate nearly $300 million in federal spending on PrescribeIT, the digital prescription system being wound down after failing to replace fax machines at meaningful scale. Conservative MP Dan Mazier said that an audit is needed to determine how the program missed its objective, where the money went, and […]
Microsoft Ends OpenAI Revenue Payments In AI Reset
Microsoft is loosening its grip on OpenAI in a revised partnership that ends Microsoft’s revenue-share payments to the ChatGPT maker, removes exclusivity from the relationship, and gives OpenAI more freedom to sell its technology across rival cloud platforms. The tech giant said Monday that “the rapid pace of innovation requires us to continue to evolve […]
Shell To Acquire ARC Resources In $22B Cash-And-Share Deal
Shell agreed to acquire ARC Resources in a cash-and-share transaction that values the Canadian producer at about US$13.6 billion in equity and US$16.4 billion including net debt and leases, giving the British oil major a larger foothold in Canada’s Montney formation as it tries to rebuild long-term oil and gas production. Under the agreement, ARC […]
Canada Unveils $25 Billion Sovereign Wealth Fund to Secure Future Prosperity
Canada is set to establish its first-ever national sovereign wealth fund, the Canada Strong Fund, with an initial endowment of $25 billion, Prime Minister Mark Carney announced on Monday at the Canada Science and Technology Museum in Ottawa. The fund, designed as a national savings and investment vehicle, aims to grow wealth for future generations […]