business
Corus confirms unspecified number of layoffs at Global News
Corus Entertainment, owner of the Global Television Network, has confirmed plans for an unspecified number of layoffs. The company says the changes are an effort to “strengthen and sustain” its news divisions. Source link
Bell builds ground station for satellite-to-mobile network
The Canadian telecommunications giant plans to launch space-based cellular service to better serve remote areas. Source link
Dozens of Meta employees sue, allege AI use for layoffs affects workers on protected leave
A group of 26 employees is suing their employer, alleging that the company used AI to select people for layoffs. In a statement, Meta said the allegations are not based in facts, and that organizational decisions are made by people, not AI. Source link
Chinese EV makers have sights set on Quebec market
Dongfeng is China’s latest automaker to unveil its electric vehicle offering in Montreal’s Old Port, as Chinese EV manufacturers look to make their entry into the Canadian market. Source link
Bank of Canada holds key interest rate at 2.25%
The Bank of Canada held its key interest rate at 2.25 per cent on Wednesday. Source link
CREA downgrades housing market forecast again as June home sales edge up
Rising inflation and fears that interest rates would rise weighed on the housing market earlier this year, prompting CREA to revise its 2026 home sales forecast down. At the same time, the number of homes sold in June rose compared to the month before. Source link
WestJet flight attendants could strike on the August long weekend — if they vote yes
A strike vote could mean more than 4,400 flight attendants at WestJet could legally walk off the job on Aug. 2, if protracted negotiations with Canada’s second-largest airline aren’t settled before then. Source link
12 states sue Paramount over Warner takeover, say merger would 'extinguish competition'
Twelve states, including California and New York, sued to block Paramount’s takeover of Warner Bros. Discovery on Monday, arguing that the $81-billion US merger would “extinguish competition” in Hollywood and lead to fewer choices for consumers across the U.S. Source link
Oil rises to 4-week highs as conflict in Iran escalates
The cost of a barrel of Brent crude, the international standard, was up around $86 US on Tuesday morning. That’s higher than oil has been in recent weeks after the U.S. and Iran signed a memorandum of understanding to end the war, but below the $100 mark that oil has reached earlier in the war. […]
Canadian trips to U.S. inch up despite months-long travel boycott
Canadian resident return trips from the U.S. edged up in June by 3.2 per cent compared to the year before, according to Statistics Canada. It’s a small increase, but it’s the third month in a row in which Canadian travel is up compared to 2025 — a positive sign for some in the tourism industry […]