All Business stories

Germany legalizes recreational cannabis

This year’s Oktoberfest celebrations could have a much chiller vibe, and it’s all thanks to some weed-loving lawmakers in Germany.

Driving the news: Germany is the latest country to legalize cannabis for recreational use, a move that lays the groundwork for commercial legalization by 2030 and opens the door for Canadian producers looking to cash in on weed sales within the EU’s biggest economy. 

Another budget airline bites the dust

In what’s probably the most rational decision the company’s made since changing its name from Jet Naked, Lynx Air has decided it’s time to throw in the towel. 

What happened: Budget airline Lynx Air officially stopped flying last night, winding down operations after just two years in the skies. It's the latest discount airline to fall flat in an increasingly difficult Canadian aviation market. 

Reddit is (finally) ready to make its IPO

TL;DR: Reddit is coming to the stock market.

Uber launches delivery robots in Japan

A new army of robots is coming… but don’t worry, they’re not trying to take over the world. They’re just here to deliver your McDonald’s. 

What happened: Starting next month, some Tokyo residents will have their Uber Eats orders delivered by an adorable autonomous robot. Japan is already known as the home to many restaurant robot servers, but it’s the first international market to adopt robot delivery on Uber. 

VCs are worried about money, too

Tech companies that want to catch an investor’s eye need to think less about flashy moonshots and more about old-fashioned returns on investment.

Reddit cuts mystery AI licensing deal

It turns out Reddit threads aren’t just a valuable way to crowdsource advice from strangers, they’re also worth tens of millions of dollars to at least one AI company.

What happened: Reddit has cut a ~US$60 million licensing deal to sell access to the user-generated content from its platform to an unnamed AI company, per Bloomberg

Pro women’s hockey league racks up early wins

Less than two months after hitting the ice, North America’s new pro women’s hockey league is already breaking records.

What happened: A Professional Women’s Hockey League (PWHL) match between Toronto and Montreal last week drew 19,285 fans to a sold-out Scotiabank Arena, breaking the attendance record for any women’s hockey game. 

Roblaw$ shirts upset Canada’s largest grocer

The Loblaw corporation has previously beefed with Frito-Lay and other smaller suppliers. Now, it’s in a spat with a guy making novelty T-shirts.   

Driving the news: Toronto-based artist Christopher Lambe was forced to remove products from his Etsy store that lambasted grocery store chain Loblaw and its high prices after the company filed a copyright infringement complaint through Etsy. Lambe is disputing the case.

Temu really wants you to shop like a billionaire

If you tuned into the Super Bowl on Sunday, you were bombarded with no fewer than three ads (plus more before and after the game) urging you to “shop like a billionaire.” That was part of a hyper-aggressive marketing campaign by Chinese e-commerce retailer Temu to conquer the North American market.

Why it matters: Temu’s big spending marketing blitz — one 30-second Super Bowl ad spot was selling for US$7 million, and Temu had six — is unprecedented, and its sheer scale is disrupting both retail and ad markets in North America.

Sony buys MJ rights as music catalogues become chart-topping investments

The competition might’ve been tough for the King of Pop’s music library, but Sony and its big chequebook told the other investors to beat it

What happened: Sony is acquiring half of Michael Jackson’s music catalogue for around US$600 million, a deal that will make it the most valuable catalogue ever sold, per Axios.