All Business stories

The biggest art fraud in Canadian history

The ringleader of the largest art fraud operation in Canadian history — and, per one investigating officer, in world history — was sentenced to 5 years in prison yesterday. 

Catch-up: For three decades, Gary Lamont spearheaded a ring of three separate but connected groups creating fakes of art by Norval Morrisseau — the acclaimed Anishinaabe artist who founded the Woodlands School movement and was dubbed the “Picasso of the North.” 

Maple syrup harvests hit a sticky patch

What goes up must go down. After a record maple syrup harvest last year, Canada’s crop of the brown stuff has come crashing down like a stack of flapjacks that was piled too high. 

Driving the news: Canadian maple syrup output fell to a five-year low, dropping 40.1% from last year due to sudden temperature swings and intense storms which killed sap flow. 

Tims says 안녕하세요 to South Korea

Forget a Justin Bieber collab — as Tim Hortons expands into its newest locale, it should be looking for a stamp of approval from Blackpink or BTS.  

What happened: Tim Hortons opened its first-ever location in Seoul today and plans to open 150 more locations in South Korea within the next five years. It’s the seventh Asian country to get a Tims after China, India, Pakistan, Thailand, the Philippines, and Singapore.

Are tech money troubles cause for alarm, or business as usual?

Icy, cold, chilly…words that are appearing both in weather reports and outlooks on the tech market this week.

Driving the news: Regardless of what part of the tech ecosystem you look at, the last week has come with headlines that suggest financial struggles are going to stick around:

Tipping propels TikTok to milestone

Like a bartender with a generous pour, TikTok creators have been reeling in the tips. 

What happened: TikTok has become the first non-gaming app to see users spend US$10 billion on the app. Per TechCrunch, the surge in spending has come from TikTok’s in-app purchases of “coins” — a virtual currency that users can spend to tip the app’s creators.

BlackBerry jams its IPO plans

It’s starting to look like investors might be happier watching BlackBerry the movie than BlackBerry the company.

What happened: BlackBerry is walking back IPO plans for its Internet of Things (IoT) division — which creates in-car operating systems used in 235 million vehicles, among other things — and will promote John Giamatteo, president of its cybersecurity division, to CEO.

Sho me the money

Look away, Blue Jays fans: Shohei Ohtani just signed the biggest contract in pro sports history, and despite some dedicated flight tracking and internet sleuthing, it’s not with Toronto. 

Driving the news: Baseball phenom Shohei Ohtani agreed to a 10-year US$700 million contract (not a typo) with the Los Angeles Dodgers over the weekend, the largest ever in professional sports history.

McDonald’s gets a McMakeover

The world’s biggest fast-food chain is going big in a quest for cold drink supremacy. 

What happened: McDonald's is launching a new restaurant concept called CosMc’s, a grab-and-go-style spin-off that will directly compete with the cold drink offerings at Starbucks, including menu items like churro frappes, pear slushies, and turmeric spiced lattes.

The beer biz is going flat

Who doesn’t love throwin’ up their feet and crackin’ open an ice-cold beer? 

Turns out, a growing segment of the population.

Driving the news: Alcohol giant Diageo is looking to exit the ice-cold—and not in a good way—beer biz, with plans to divest all of its beer brands except Guinness, per Axios

Walmart is all about rom-commerce

The world's largest retailer is banking on a holiday season staple to boost sales: the cheesy holiday rom-com.

Driving the news: Walmart has launched a 23-part shoppable rom-com TV series called Add to Heart (get it, like ‘add to cart’) as part of its push to reach younger consumers. The format allows viewers to buy the clothes, decor, and furniture that is seen on the show.