Business news

• Creditors vs. cleanup: Court case that rocked Alberta's oilpatch being reconsidered

  12-10-2016 22:31 via cbc.ca
  
  Redwater Energy Corp. — the tiny energy company whose bankruptcy made huge waves in the oilpatch — is back in the spotlight as the Alberta Energy Regulator appeals a decision made by a lower court that gave creditors priority over the cleanup of oil wells.
  
  Read more

• Nobel economist warns AI doomsday job fears could become self-fulfilling prophecy

  27-06-2026 20:18 via foxbusiness.com
  
  A Nobel Prize-winning economist has warned that persistent predictions of artificial intelligence destroying the job market could become a self-fulfilling prophecy.Robert Shiller, who shared the 2013 Nobel Prize in economics for his work on asset prices, wrote a guest essay on Monday in The New York Times that argued the panic over AI is not a new sociological phenomenon.In fact, he wrote, humans have been worried that new technology could replace them since the days of Aristotle, who envisioned
  
  Read more

• Warriors, AI Cloud provider Iren reach sponsorship deal that reportedly is largest in North American sports

  27-06-2026 16:31 via foxbusiness.com
  
  The Golden State Warriors will have a new company patch on their jerseys, and it will set a new precedent in the sponsorship deal space.Iren, an Australian-founded vertically integrated AI cloud provider, will have its brand on the jerseys beginning with the 2026-27 season after reaching a deal reportedly worth more than $50 million a year.The financial terms, first reported by Sportico, make it the most lucrative sponsorship deal in North American sports.CLICK HERE FOR MORE SPORTS COVERAGE ON F
  
  Read more

• Refining cobalt in Cobalt, Ont.? That's the plan for this northern Ontario town

  27-06-2026 10:00 via cbc.ca
  
  A facility near Cobalt, Ont., has been tapped to be the home of North America's first battery-grade cobalt refinery. Projected to be fully operational by late 2027, the plant will import and process mined cobalt — experts say it could bring Canada into an industry dominated by China.
  
  Read more

• Advertisement

• Ryanair 'reluctantly' ends mandatory fees for parents to sit with children amid investigation

  27-06-2026 03:04 via foxbusiness.com
  
  Ryanair will "reluctantly" allow parents to sit with their children for free after an investigation into the practice was opened, bringing the airline in line with European industry standards.Previously, Europe's largest airline by passenger numbers charged a fee—typically $10.70 each way per adult—to allow up to four children aged 2 to 11 to sit next to an accompanying adult. Moving forward, families who do not pay to reserve seats will be allocated random seats together for free af
  
  Read more

• Polestar banned from US market under rule targeting China-linked connected vehicles

  26-06-2026 22:24 via foxbusiness.com
  
  Polestar said on Thursday that the Trump administration is forcing the electric vehicle maker to stop selling vehicles in the U.S. starting with the 2027 model year under a new regulation cracking down on China-linked automakers.The Commerce Department's Bureau of Industry and Security (BIS) declined to grant Polestar authorization to sell cars under the Connected Vehicles Rules, which restricts the importation and sale of cars with connected vehicle technology linked to China starting with the
  
  Read more

• OpenAI restricts release of newest ChatGPT model to Trump-approved group during testing period

  26-06-2026 22:20 via cbc.ca
  
  OpenAI says its new AI product, called GPT-5.6 Sol, will only be initially available to a "small group of trusted partners" approved by the Trump administration. The move comes after OpenAI's rival, Anthropic, took two of its models offline shortly after release to comply with a Trump directive.
  
  Read more

• Home goods store Flying Tiger lands in Canada, where competition awaits

  26-06-2026 21:55 via cbc.ca
  
  The Danish brand that sells all-things cheap and cute, like dish towels in fruit motifs, animal-shaped erasers and jewelry boxes resembling fancy sofas for low prices, opened its first Canadian store at Toronto's Eaton Centre on Friday. Experts say the brand will face competition from the likes of Miniso and Daiso — Asian entrants which also came to the Canadian market in recent years.
  
  Read more

• Advertisement

• Dell shareholders approve legal move from Delaware to Texas

  26-06-2026 21:14 via foxbusiness.com
  
  Dell Technologies on Thursday announced that shareholders granted their approval to the company's plan to switch its state of incorporation from Delaware to Texas.Michael Dell, founder and CEO of Dell Technologies, announced the results of the shareholder vote, which was overwhelmingly in favor of the move, in a social media post on the X platform."Today, with 97% approval, Dell shareholders voted to bring our legal home to Texas," Dell said."This is home and where we've always belonged. Texas g
  
  Read more

• Tech CEO predicts AI glasses will turn Americans into 'walking cameras' as next tech era arrives

  26-06-2026 19:17 via foxbusiness.com
  
  The next era of mobile technology will turn everyday Americans into "walking cameras" as AI-powered smart glasses monitor everything they see and hear, according to Qualcomm CEO Cristiano Amon.During an appearance on "Mornings with Maria," Amon described a future in which ultra-fast 6G networks will allow smart glasses to stream information to AI models in real time. He said the shift could reshape both the technology industry and everyday life. "6G is going to transform all of us into walk
  
  Read more

• Mamdani celebrates rent freeze for stabilized housing as board member quits, blasts vote process

  26-06-2026 19:00 via foxbusiness.com
  
  The New York City Rent Guidelines Board (RGB) voted 7-1 on Thursday to freeze the rent for rent-stabilized apartments.A summary of the rent-stabilized apartment guidelines adopted on Thursday indicates that "Together with such further adjustments as may be authorized by law, the annual adjustment for leases for apartments shall be" 0% for one-year and two-year leases starting "on or after October 1, 2026, and on or before September 30, 2027."New York City Mayor Zohran Mamdani, who
  
  Read more

• Sherritt shutting down Fort Saskatchewan, Alta., refinery as feed from Moa mine in Cuba runs out

  26-06-2026 18:49 via cbc.ca
  
  Sherritt International Corp. is shutting down operations at its refinery in Fort Saskatchewan, Alta., after running out of the feed inventory it receives from its Moa mine in Cuba.
  
  Read more

• Apple raises iPad and MacBook prices as memory chip costs surge

  26-06-2026 18:35 via foxbusiness.com
  
  Apple on Thursday announced that it raised prices on its iPad and MacBook devices because of rising memory and chip costs amid the rapid buildout of the AI industry.The tech giant excluded its primary cash cow, the iPhone, from the price hikes but will raise prices on the other devices as Apple said it couldn't afford to continue insulating consumers from the mounting cost of memory and storage chips."We have never seen a component price increase this much, this quickly," Apple said in a stateme
  
  Read more

• RBC fined $4.25M over incorrect credit card statements

  26-06-2026 15:04 via cbc.ca
  
  Between 2001 and 2024, the FCAC says RBC failed to transfer credits from deactivated credit card accounts to customers' new ones. This resulted in incorrect monthly credit card statements.
  
  Read more

• RBC fined $4.25 million over incorrect credit card statements

  26-06-2026 15:04 via cbc.ca
  
  Between 2001 and 2024, the FCAC says RBC failed to transfer credits from deactivated credit card accounts to customers' new ones. This resulted in incorrect monthly credit card statements.
  
  Read more

• California voters to consider ballot measure to increase taxes on billionaires

  26-06-2026 09:39 via foxbusiness.com
  
  California voters will decide in November whether to impose a one-time 5% tax on billionaires under a ballot measure supporters say could raise about $100 billion to help offset federal Medicaid funding cuts, despite opposition from Gov. Gavin Newsom and other state leaders.The proposal would apply to California residents whose net worth exceeded $1 billion as of Jan. 1, 2026. Under the initiative, roughly 90% of the revenue would be directed toward healthcare programs, with the remaining 10% ea
  
  Read more

• LARRY KUDLOW: The Mamdani-AOC antisemitic tail is now wagging the entire Democratic Party dog

  25-06-2026 23:41 via foxbusiness.com
  
  Days after the Mamdani-DSA socialist or communist victories in New York City, there was all manner of punditry speculation about a populist revolt, the breakdown of conventional political organizations, I guess in this case the Democratic party. Economic worries about affordability and probably other factors that undoubtedly have some merit.Yet to me, and I want to be very clear about this, the single strongest animating fervor that unites this Mamdani socialist movement is antisemitism, a hatre
  
  Read more

• Mortgage rates tick slightly higher amid Iran, inflation uncertainty

  25-06-2026 23:10 via foxbusiness.com
  
  Mortgage rates ticked slightly higher this week, but were little changed, mortgage buyer Freddie Mac said on Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 6.49% from last week's reading of 6.47% and 6.52% the week before last.The average rate on a 30-year loan was 6.77% at this time a year ago.HOUSING AFFORDABILITY UNLIKELY TO RETURN TO MORE FAVORABLE LEVELS OF THE PAST, ECONOMIST SAYS"The
  
  Read more

• Apple hikes prices on iPads, MacBooks, as AI crunches global memory chip supply

  25-06-2026 18:11 via cbc.ca
  
  Apple hiked iPad and MacBook prices on Thursday, saying it could no longer “shield” customers from soaring memory and storage chip costs driven by the AI industry's rapid and expansive data center buildout.
  
  Read more

• Apple and Microsoft hike prices as AI crunches global memory chip supply

  25-06-2026 18:11 via cbc.ca
  
  Apple hiked iPad and MacBook prices on Thursday, saying it could no longer shield customers from soaring memory and storage chip costs driven by the AI industry's rapid and expansive data center buildout.
  
  Read more

• AI crunches global memory chip supply, so Apple and Microsoft hike their prices

  25-06-2026 18:11 via cbc.ca
  
  Apple hiked iPad and MacBook prices on Thursday, saying it could no longer “shield” customers from soaring memory and storage chip costs driven by the AI industry's rapid and expansive data center buildout.
  
  Read more

• Why claiming Social Security early out of fear that the program will run dry is 'bad advice,' Suze Orman says

  25-06-2026 17:55 via foxbusiness.com
  
  As anxiety mounts over the long-term solvency of the Social Security trust funds, a growing number of Americans are rushing to claim their benefits early out of fear that the program will run dry.However, personal finance expert Suze Orman warns that following this viral advice will lock retirees into a permanent financial penalty that cannot be undone."There’s been some chatter on social media lately about Social Security that I think is bad advice," Orman wrote earlier this month on her
  
  Read more

• JPMorgan names 2 new co-presidents, setting up race to succeed Jamie Dimon

  25-06-2026 17:05 via foxbusiness.com
  
  The race to succeed America's top banker is on.Sources inside JPMorgan Chase, the nation's top bank, say the elevation of two senior executives Doug Petno and Troy Rohrbaugh as co-presidents of the company, sets up a long-awaited horse race to succeed the voluble Jamie Dimon, its CEO for the past two-plus decades and widely regarded as the nation's top banker.As if to leave no doubt about his intentions, Dimon Thursday also announced that Marianne Lake, one of the highest-ran
  
  Read more

• US economy grew at 2.1% in first quarter

  25-06-2026 14:41 via foxbusiness.com
  
  The U.S. economy grew at a faster pace than expected in the first quarter, according to the Commerce Department's estimate.The Bureau of Economic Analysis (BEA) on Thursday released its final reading of first-quarter GDP, which showed the economy grew at an annualized rate of 2.1% in the three-month period including January, February and March. That figure was higher than the expectations of economists polled by LSEG, who had estimated 1.6% GDP growth in the first quarter. The fig
  
  Read more

• Fed's favored inflation gauge accelerated in May amid energy price shock

  25-06-2026 14:34 via foxbusiness.com
  
  The Federal Reserve's preferred inflation gauge rose in May as price pressures persist in the wake of the energy shock caused by the Iran war.The Commerce Department on Thursday reported that the personal consumption expenditures (PCE) index rose 0.4% on a monthly basis in May and is 4.1% higher than a year ago. The monthly figure came in slightly cooler than the expectations of economists polled by LSEG, who predicted a 0.5% rise, while the annual figure was in line with the estimate.Core
  
  Read more

• Buc-ee’s expands national footprint with 15 more locations in the pipeline

  25-06-2026 13:48 via foxbusiness.com
  
  Buc-ee’s is fueling up for a larger national expansion, with 15 additional travel centers in the pipeline as the Texas-based chain pushes its empire farther beyond its home state.The company opened its first Arizona location on Monday in Goodyear, a suburb of Phoenix, marking Buc-ee’s first stop in the Grand Canyon State and giving road-trippers another supersized destination for fuel, snacks and the chain's famously clean restrooms, according to USA Today.The 74,000-square-foot trav
  
  Read more

• 'Mayday to Ottawa': $400M carbon capture facility could be cancelled after changes to Alberta's carbon tax

  25-06-2026 10:00 via cbc.ca
  
  A shovel-ready, $400-million proposed facility to convert landfill waste in Edmonton into electricity that took five years to develop, could now be cancelled after the recent carbon tax agreement between the Alberta and federal governments.
  
  Read more

• Mark Carney's plan to bulk-buy unsold Vancouver condos might be a bailout, but it doesn't have to be

  25-06-2026 10:00 via cbc.ca
  
  People need affordable homes, and thousands of empty condos in British Columbia are waiting to be sold. The federal government has an idea to help with both: Prime Minister Mark Carney is partnering with the B.C. government to convert vacant condos into affordable housing units.
  
  Read more

• Nearly 6,000 pounds of frozen meatloaf recalled over undeclared soy, USDA says

  25-06-2026 03:48 via foxbusiness.com
  
  A recall has been issued for nearly 6,000 pounds of a frozen meatloaf and mashed potato product over an undeclared soy allergen, according to the Department of Agriculture's Food Safety and Inspection Service (FSIS).North Dakota-based Power Plate Meals, LLC recalled about 5,795 pounds of its frozen Meatloaf with Garlic Mashed Potatoes products because of a misbranding and an undeclared allergen, FSIS said in its announcement last week.The food item contains soy, while the packaging does not stat
  
  Read more

• Elon Musk loses trillionaire status after tech sell-off erases billions from fortune

  25-06-2026 03:16 via foxbusiness.com
  
  Elon Musk is no longer worth more than $1 trillion, less than two weeks after becoming the first person to reach the milestone.Musk’s net worth was valued at $946 billion as of Wednesday, according to the Bloomberg Billionaires Index. That is down from about $1.11 trillion less than 14 days earlier.The drop came after shares of SpaceX and Tesla fell during a broader tech sell-off. Investors have become more cautious about the long-term profitability of artificial intelligence.Musk remains
  
  Read more

Follow @Business_Newsl on Twitter!