Business

Duane, left, and Dave MacDonald, co-owners of Callbecks Home Hardware and now Leon’s Summerside, celebrated the latter’s official opening on April 17. Their company purchased the Leon’s franchise for P.E.I. from D.P. Murphy earlier this year and subsequently relocated it from Charlottetown to Summerside. Colin MacLean

Leon's furniture store completes relocation from Charlottetown to Summerside

The cutting of a bright yellow ribbon has marked a homecoming for a long-time Summerside business. Dave MacDonald held the scissors; he is co-owner, along with his brother Duane, of Callbecks Home Hardware and its associated family of businesses. On ...

Updated 2 hours ago |5 min read

Centralized application for renters in P.E.I. could lead to privacy concerns, tenant blacklist: advocate

Updated a day ago |5 min read

Ryan MacRae, an organizer with P.E.I. Fight for Affordable Housing, questions the intent behind a new application renters can use to reach a group of landlords. Logan MacLean • The Guardian

Canada aims to attract Honda and others with EV tax incentives

Updated 21 hours ago |6 min read

Honda Motor Co's auto plant in Alliston, Ontario. Honda is reportedly close to a major EV deal with the Canadian government.

BDC employees paid over $250 million in bonuses since 2019: documents

Updated Apr. 20, 2024 |4 min read

Canada's planned capital gains tax hike may choke mining startups, dealmakers say

Updated 20 hours ago |2 min read

Gucci-owner Kering posts 10% drop in Q1 sales on sluggish Chinese demand

Updated 6 minutes ago |1 min read

Tesla to lay off nearly 2,700 employees in Texas factory, notice shows

Reuters |Updated 6 minutes ago |1 min read

(Reuters) - Tesla will lay off 2,688 employees at its Texas factory, the electric vehicle maker said in a Worker Adjustment and Retraining Notification (WARN) notice on Monday. The WARN Act of 1988 is a U.S. labor law that requires companies with ...

Workers clean the windows of the office building of Chilean telecommunications company Entel at the district of San Isidro in Lima, Peru September 1, 2018.

Chile telecoms firm Entel lifts 2024 investments to $618 million

Reuters |Updated 38 minutes ago |1 min read

SANTIAGO (Reuters) - Chilean telecommunications firm Entel plans to invest $618 million this year, the company said on Tuesday, slightly above its 2023 spending. The funds will go primarily toward Entel's mobile and home divisions, the firm in a ...

United Parcel Service (UPS) vehicles are seen at a facility in Brooklyn, New York City, U.S., May 9, 2022.

UPS sees profit in U.S. Postal Service work that dragged down FedEx earnings

Lisa Baertlein |Updated 38 minutes ago |2 min read

By Lisa Baertlein LOS ANGELES (Reuters) - United Parcel Service expects its newly won U.S. Postal Service (USPS) air cargo contract to be profitable in its first year and throughout the more than five-year deal, after rival FedEx struggled with ...

CANADA FX DEBT - Canadian dollar strengthens, benchmark yield climbs

Reuters |Updated 56 minutes ago |1 min read

The Canadian dollar strengthened against the greenback on Tuesday, and the yield on benchmark government debt climbed. The loonie was trading 0% higher at C$1.3694 to the greenback, or 73.02 U.S. cents, after trading in a range of 1.369 to 1.3714.

Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018.

China's central bank hints it may add treasury bond trades to policy toolkit

Reuters |Updated 1 hour ago |2 min read

BEIJING (Reuters) - A senior Chinese central bank official suggested on Tuesday that the bank's buying and selling of treasury bonds in the secondary market could be used for liquidity management and as a monetary policy tool. Investors expect ...

Single-family residential homes are shown under construction in Menifee, California, U.S., March 28, 2024.

US new home sales rebound in March

Reuters |Updated 6 minutes ago |2 min read

WASHINGTON (Reuters) - Sales of new U.S. single-family homes rebounded in March from February's downwardly revised level, drawing support from a persistent shortage of previously owned houses on the market, but momentum could be curbed by a ...

A journalist attends the presentation of the new iPhone 14 at an Apple event, at their headquarters in Cupertino, California, U.S. September 7, 2022.

Apple says it will hold event on May 7

Reuters |Updated 6 minutes ago |1 min read

(Reuters) - Apple will hold an event on May 7, the company said on Tuesday, amid reports that it would roll out the long-anticipated revamped versions of the iPad Pro and iPad Air next month. The Cupertino, California-based company did not ...

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 7, 2024.

Fund offering 'venture capital' exposure sends investors on meme-like ride

Suzanne McGee |Updated 1 hour ago |3 min read

By Suzanne McGee (Reuters) - A new fund that allows shareholders access to privately owned technology companies has sent investors on a wild ride in recent weeks while eliciting criticism from the likes of Morningstar and competitor ARK ...

A shopper leaves a Walmart Supercenter in Secaucus, New Jersey, U.S., June 7, 2023.

Walmart-backed fintech One launches 'buy now, pay later' loans, CNBC reports

Reuters |Updated 1 hour ago |1 min read

(Reuters) - Walmart’s majority-owned fintech startup One has started offering buy now, pay later (BNPL) loans for big-ticket items like electronics and power tools at some of the retailer's U.S. stores, CNBC reported on Tuesday. One will be going ...

A "For Rent, For Sale" sign is seen outside of a home in Washington, U.S., July 7, 2022.

US homebuilder NVR tops profit estimates as tight housing supply spurs sales

Reuters |Updated 1 hour ago |1 min read

(Reuters) - U.S. homebuilder NVR Inc beat Wall Street estimates for first-quarter profit as tight housing supply drove demand for new homes. With the popular 30-year fixed mortgage at around 7%, a majority of U.S. homeowners have deferred ...