Tim Hortons franchisees in Quebec sue owner for $18.9 million over alleged profit restrictions
MONTREAL - A group of 16 Tim Hortons franchisees in Quebec have filed a lawsuit against the brand's owner, TDL Group Corp., seeking $18.9 million in compensation for lower-than-expected profits. The f
Home Depot Acquires SRS Distribution in $18.25B Deal, Expanding into Professional Market
ATLANTA, GA - Home Depot, the leading home improvement retailer in the United States, has announced its acquisition of SRS Distribution, a materials provider for professionals, in a deal valued at app
FTC Moves to Block Kroger's Acquisition of Albertsons, Citing Monopoly Concerns
WASHINGTON, D.C. - The Federal Trade Commission (FTC) has taken action to prevent The Kroger Company's $24.6 billion acquisition of Albertsons Companies Inc., arguing that the merger would create a mo
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Developer Accuses Former CFO of Embezzling Millions to Fund Lavish Lifestyle
Embattled Los Angeles developer Shangri-La Industries, known for its unpaid debts and unfinished projects, is now claiming that its former chief financial officer, Cody Holmes, embezzled millions of d
Century Aluminum Co. Chooses Northeastern Kentucky as Preferred Site for New Smelter
CHICAGO - Century Aluminum Co., an aluminum company based in Chicago, has announced that it has identified northeastern Kentucky as its preferred site for a new aluminum smelter. The project, which is
FTC Report Claims Major Supermarket Chains Profited Off Pandemic and Supply Chain Problems
WASHINGTON -- The Federal Trade Commission (FTC) has released a report suggesting that major supermarket chains in the United States profited off the pandemic and supply chain problems by raising pric
BP Refinery in Indiana Resumes Normal Operations After Power Outage and Temporary Shutdown
WHITING, Indiana - BP's oil refinery in Whiting, Indiana has resumed normal operations after a power outage forced the company to temporarily shut down the complex and evacuate workers. The refinery,
Subway Announces Switch from Coca-Cola to PepsiCo as Beverage Supplier in the US
NEW YORK - Subway, one of the world's largest restaurant brands, has made a significant change in its beverage supplier, opting to switch from Coca-Cola to PepsiCo in the United States. The 10-year ag
Airbus Canada Workers Reject Contract, Consider Strike Mandate
Montreal, Canada - Canadian Airbus A220 production workers have voted against a contract and are now considering a strike mandate, according to a union official. Over 99% of the union members who vote
US Energy Department Approves $2.26B Loan for Lithium Mine in Nevada
WASHINGTON - The U.S. Energy Department has conditionally agreed to loan over $2 billion to Lithium Americas, a Canada-based company, to help cover construction costs for a lithium mine in Nevada. The
Transat A.T. Inc. Reports $61 Million Loss in Q1 2023 Amid Strike Concerns
MONTREAL - Transat A.T. Inc., a Canadian tour operator, reported a loss of $61 million in the first quarter of 2023, surpassing the $56.7 million loss from the same period the previous year. The compa
Biden Opposes Sale of U.S. Steel to Nippon Steel, Citing Concerns for American Workers and National Security
WASHINGTON - President Joe Biden has come out in opposition to the planned sale of U.S. Steel to Nippon Steel of Japan. In a statement released on Thursday, Biden emphasized the importance of maintain
Enviva, largest global wood pellet supplier, files for Chapter 11 bankruptcy protection
Maryland-based wood pellet producer Enviva has filed for Chapter 11 bankruptcy protection in the US, with plans to restructure and cut about $1 billion of debt. The company, which is the largest globa
Dollar Tree to Close Nearly 1,000 Stores in US Following Quarterly Loss
CHESAPEAKE, Va. - Dollar Tree Inc., the parent company of Dollar Tree and Family Dollar, announced its plans to close nearly 1,000 stores in the United States after reporting a quarterly loss and bein
Union Report Warns of "Deepening" Crisis in B.C.'s Forestry Sector, Criticizes Government Response
A new report co-prepared by three unions in Canada warns of a "deepening" crisis in the forestry sector in British Columbia (B.C.) and criticizes the government's inadequate response to the situation.
New Mexico State Land Office Halts Oil and Gas Lease Sales in Permian Basin Amidst Disagreements Over Royalty Rates
SANTA FE, N.M. - The New Mexico State Land Office has announced that it will indefinitely halt lease sales for oil and natural gas development in the Permian Basin as it seeks approval from the state
Enbridge to Invest $500M in Expanding US Operations
NEW YORK - Enbridge Inc., a Canadian energy company, has announced plans to invest approximately $500 million in new projects to expand its business in the United States. The announcement was made dur
EU Plans Tariffs on Chinese Electric Vehicles to Protect Domestic Car Industry
BRUSSELS - The European Commission is considering the imposition of tariffs on Chinese electric vehicles (EVs) in order to safeguard the domestic car industry. This move comes as the Commission invest
Psilocybin Companies Utilize Social Media Influencers to Market Products
DENVER - In the burgeoning psychedelics industry, companies are turning to social media influencers to market their products. These influencers, who have amassed large followings on platforms like Tik
Jeff Bezos Reclaims Title of World's Richest Person, Surpassing Elon Musk
Jeff Bezos has reclaimed the title of the world's richest person, surpassing Elon Musk, according to the Bloomberg Billionaires Index. Bezos' net worth is now at $200 billion, while Musk closely follo
Arkhouse and Brigade up Macy's takeover offer to $6.6 billion following rejection of previous deal
New York, NY - Investment firms Arkhouse Management and Brigade Capital Management have increased their offer to acquire Macy's to $6.6 billion in an all-cash proposal of $24 per share. The previous o
Consumers Have Until March 4th to Claim Their Share of $3 Million Settlement with Credit Karma, Says FTC
WASHINGTON, DC - The Federal Trade Commission (FTC) has announced that consumers who were deceived by pre-approved credit card offers from Credit Karma have until March 4 to sign up and receive their
High-Flying E-Commerce Startup Thrasio Files for Bankruptcy
N EW JERSEY - Thrasio, a major third-party seller on Amazon, has filed for Chapter 11 bankruptcy protection in a New Jersey court. The Massachusetts-based company, known for its role as an Amazon aggr
Beyond Meat's Shares Soar on Better-than-Expected Q4 Revenue Despite Weak US Sales
EL SEGUNDO, California, USA - Plant-based meat maker, Beyond Meat, reported higher-than-expected sales in the fourth quarter of 2021, causing its stock to soar by over 78% in after-market trading. Des
Wendy's Plans to Test Surge Pricing on Menu, Investing $20M in Digital Boards
DUBLIN, Ohio - Wendy's is set to revolutionize the fast food industry with its plan to introduce surge pricing on its menu, similar to the dynamic pricing used by Uber. The popular fast food chain wil
Los Angeles County Files Lawsuit Against Grubhub, Alleging Deceptive Advertising Practices
LOS ANGELES COUNTY - The Los Angeles County has filed a lawsuit against food delivery app Grubhub, accusing the company of false and deceptive advertising. The lawsuit alleges that Grubhub uses bait-a
Vice Media to Lay Off Employees, Cease Publishing on Vice.com
In a recent announcement, Vice Media, the New York-based media company, revealed its plans to lay off several hundred employees and discontinue material publication on its Vice.com website. The compan
FuboTV Files Antitrust Lawsuit Against ESPN, Fox, Warner Bros. Discovery, and Hulu Over Sports Streaming Venture
NEW YORK - FuboTV, the popular streaming service known for its live sports offerings, has filed an antitrust lawsuit against ESPN, Fox, Warner Bros. Discovery, and Hulu. The lawsuit, which was filed i
BHP Faces $10.3 Billion Loss Amid Nickel Price Collapse and Legal Developments in Brazil
NEW YORK - Mining company BHP is poised to take a significant hit to its bottom line as it grapples with the collapse of global nickel prices and legal issues stemming from the Samarco dam disaster in
Boeing Begins Contract Negotiations with Largest Union, IAM, for the First Time in 16 Years
WASHINGTON - Boeing, the American multinational corporation, has started contract negotiations with its largest union, the International Association of Machinists (IAM), for the first time in 16 years