All Business stories

Bowling is on a Canadian roll

At the height of the pandemic, nothing could be more frightening than repeatedly touching a germ-infested item hundreds of other strangers had handled. Now, we can’t get enough of it! 

In case you couldn’t tell, we’re talking about bowling.  

Driving the news: U.K.-based bowling operator Hollywood Bowl Group (HBG) is pursuing an aggressive expansion in Canada — with plans to open up to 10 new alleys within the next five years — as it posts yearly revenue gains better than a game-winning strike. 

Does your company need a chief AI officer?

If you want your company’s AI adoption to go smoothly, maybe you should put it in a corner office.

Driving the news: Companies across sectors have been hiring chief AI officers (CAIOs), from Accenture and GE HealthCare to eBay and Ashley.

Adam Neumann wants WeWork to take him back

In what could be the most shocking reunion since Ben Affleck and J-Lo, WeWork co-founder and ex-CEO Adam Neumann has sent the proverbial “u up?” text to his old business. 

Driving the news: For months now, Neumann’s latest venture, Flow Global, has been trying to acquire WeWork out of bankruptcy and provide financing to keep it running.

Canada tops global rankings for EV battery outlook

After a big year of spending, Canada’s no longer the underdog in the EV battery space.

What happened: Canada has surpassed China as the world’s most promising country for lithium-ion battery production, according to a new global ranking — a sign that its efforts to become an EV manufacturing hub are starting to pay off, per The Globe and Mail. 

Novo Nordisk strikes deal to ramp up Ozempic production

As Ozempic becomes more challenging to acquire than a Cabbage Patch Kid on Christmas Eve in 1983, the drugmaker behind it is making a big money move to help increase production. 

What happened: Novo Nordisk — maker of blockbuster diabetes and weight-loss drugs Ozempic and Wegovy — struck a US$11.5 billion deal to acquire three factories from Catalent, a drug manufacturer that was bought by Novo Nordisk’s parent as part of a larger transaction. The deal will increase capacity to help meet relentless demand for the drugs. 

Spotify shakes up podcasting world with new deal

Done with the days of throwing millions at anyone with a microphone and a few Instagram followers, Spotify is taking a new approach to its podcast business. 

Driving the news: Joe Rogan has reached a new multi-year deal with Spotify that will distribute The Joe Rogan Experience — the world’s most popular podcast — across all major audio platforms, the latest move in the company’s shift away from keeping its shows off of rival platforms. 

Court rules against Musk’s pay package

A recent court ruling had Elon Musk advising his 170 million X/Twitter followers to never incorporate a company in Delaware (relatable).

Driving the news: Tesla CEO Elon Musk will not cash in on a US$55.8 billion pay package that had been agreed to by the company’s board back in 2018, after a Delaware judge ruled that Musk “dominated” the pay negotiation process to secure “unfathomable” compensation. 

Walmart wants its employees to feel like owners

While it seems like layoffs are happening left, right, and centre these days — because, well, they are — some companies are going to great lengths to retain workers.

Driving the news: Walmart managers in the U.S. can now make upwards of US$400,000 a year after the world’s biggest retail store granted them the opportunity to earn up to $20,000 in annual stock grants and bonuses of up to 200%, in addition to increasing base salaries. 

Big tech fails to level up its gaming ambitions

The dollar signs tech companies once saw in video games are turning into pink slips.

What happened: Microsoft laid off 1,900 staff from its gaming division. Activision Blizzard — which Microsoft acquired in October after a long review by regulators — got the brunt of it, with smaller cuts at Xbox and ZeniMax, which operates developer and publisher Bethesda.

Can Canada Post survive a digital age?

Like a super spy who awakens from a long cryogenic slumber (sorry, we just re-watched Austin Powers), Canada Post needs help getting with the times. 

Driving the news: Canada Post is selling Innovapost, its in-house IT wing, to Deloitte for an undisclosed sum. The move comes as the national mail carrier looks to improve its digital operations and capabilities, and find some way to stop hemorrhaging cash.