All Business stories

Canada is all in on EV battery production

Some folks collect baseball cards or stamps. Canada is collecting EV battery plants.

What happened: Swedish electric vehicle (EV) battery maker Northvolt — which has supply deals with BMW and Volkswagen — has secured the largest private investment in Quebec history to build a $7 billion factory near Montréal. 
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Why is Costco selling gold bars?

A 10-kg bucket of peanut butter. A box of 204 frozen croissants. A 24-karat gold bar. What do all of these items have in common? You can buy them all at Costco. 

Driving the news: Costco is now selling one-ounce gold bars online, and they’re getting picked up at a speed usually reserved for Taylor Swift tickets and new Air Jordans. On a recent earnings call, Costco CFO Richard Galanti said new bars typically sell out in hours.
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The FTC challenges Amazon

The FTC surely must be inspired by the story of David and Goliath, because the US regulatory body won’t stop picking fights with tech giants. 

What happened: The US Federal Trade Commission (FTC), alongside 17 states, has filed an antitrust lawsuit against Amazon, claiming the company is a monopoly that illegally crushes its competition, keeps prices inflated for consumers, and traps third-party sellers.  
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The supershoe footrace heats up

The saddest six-word story ever written: For sale, $500 shoes, worn once.

What happened: The Adizero Adios Pro Evo 1s are now on sale. They’re Adidas’ newest running shoes, which runner Tigist Assefa wore when she shattered the women’s world marathon record last weekend. The price tag for these record-setting sneaks? US$500.
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TikTok plays matchmaker for its employees

Do NOT show your HR manager this: In China, companies are adding “helping you find your one true love” to their benefits packages, alongside dental coverage and vacation time.  

Driving the news: Forbes unveiled that TikTok parent company ByteDance has an internal channel on its shared work tool called Meet Cute. It lets employees post photos of friends, family, and acquaintances and advertise them as potential romantic partners to co-workers.
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Auto talks extended past strike deadline

5,680 autoworkers remained on the job past a midnight strike deadline as talks between Unifor, the union representing autoworkers, and Ford were extended another 24 hours.

  • "The union received a substantive offer from the employer minutes before the deadline and bargaining is continuing throughout the night," Unifor said in a statement.
Why it matters: The extension leaves the door open to avoid a strike at a time when the Big Three automakers are already contending with labour disruptions in the US.
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Autoworkers see risk in electric vehicle future

Electric vehicles might be great for bringing emissions down, but there’s growing concern among autoworkers that they might not be great for people who make cars for a living.

Driving the news: United Auto Workers President Shawn Fain, who is leading the first-ever US strike against all three of GM, Ford, and Stellantis (formerly Chrysler), has highlighted the possible dangers for workers presented by the EV transition.
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China takes a bite out of Apple

Imagine this: You’re a company, and your second-biggest market, which generates almost a fifth of your revenue, suddenly enacts a partial ban on your products.

Apple is currently living out that nightmare. 
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The rise of the athlete influencer

Athletes: They’re just like you and me. They eat, sleep, and are painfully aware of how many views their latest Instagram story is getting. 

Driving the news: As the US Open continues, Genie Bouchard will be on the sidelines after failing to qualify. Despite this, and the fact she also failed to qualify for Wimbledon this summer, a recent study ranked her as the fifth-most valuable Canadian athlete influencer
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Indigo asks, “Would you like some books with your wine?”

The newest location of Canada’s largest bookstore is set to offer a lot more than books. 

Driving the news: Indigo’s new 16,000-square-foot store, opening in downtown Toronto this fall, aims to be “a cultural emporium” inspired by the hip shops you’ll find lining Tokyo streets, featuring more products, immersive displays, events, and booze (nice). Picture this: 
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