Loblaws, Sobeys owners under investigation by Competition Bureau for alleged anticompetitive conduct - Business news - NewsLocker (2024)

Canada's Competition Bureau has launched investigations into the parent companies of grocery chains Loblaws and Sobeys for alleged anticompetitive conduct, court documents reveal, with Sobeys' owner calling the inquiry "unlawful."

Elon Musk's xAI gets $6B in new funding and announces valuation

Billionaire Elon Musk's artificial intelligence (AI) startup xAI announced Sunday that the company raised $6 billion in Series B funding that lifts the company's valuation to $24 billion after the investment.Among the investors in xAI's $6 billion Series B round were Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, according to the company.Musk's xAI, which was publicly unveil

Court greenlights shareholder class-action lawsuit against Bombardier

A Quebec judge is authorizing a class action from shareholders against Bombardier Inc. over claims that the plane maker presented a false picture of its financial situation in 2018, a turbulent year that saw its share price tank.

Warren Buffett’s favorite ETFs

For those investors looking for a simple and economical way to invest in the index, they may want to follow Warren Buffett’s lead.The S&P 500, the broadest measure of stocks, hit a new all-time high this month and is trading just shy of that level with gains of 26% over the past year.While the Oracle of Omaha’s Berkshire Hathaway is known for investing in companies such as co*ke, American Express. Apple and his newest name, Chubb, it's also owned two exchange-traded fu

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Bass Pro Shops' CEO says brand will focus on affordability amid rising costs: 'Inflation is here'

EXCLUSIVE: The founder and CEO of Bass Pro Shops, Johnny Morris, says that despite inflation, the hunting, fishing and outdoor sporting brand will remain focused on affordability heading into boating and fishing seasons.Inflation remains high at 3.4%, above the Fed’s 2% goal, though it dropped from its peak of 9.1% in June 2022."Inflation is here. It’s real," Morris told FOX Business during a video interview.EXCLUSIVE: CEO OF BASS PRO SHOP REVEALS NATURE-BASED AMPHITHEATER, MORGAN WA

12 Qatar Airways passengers injured as Boeing jet hits turbulence en route to Dublin

Twelve people have been left injured after a Qatar Airways flight from Doha to Dublin, Ireland hit an area of turbulence, with one passenger describing it as the "worst 15 seconds of my life."Dublin Airport said in a statement that Qatar Airways flight QR017 – a Boeing 787-9 Dreamliner – managed to land safely around midday Sunday."Upon landing, the aircraft was met by emergency services, including Airport Police and our Fire and Rescue department, due to 6 passengers and

Camping in luxury: Why the 'glamping' trend is on the rise

For campers who love the outdoors and nature but don't like bugs or the hassle of pitching a tent, "glamping" is the solution.Glamping is growing in the U.S. as the camping and hospitality sector has drawn in a new set of leisure travelers looking for services and amenities not typically found in standard camping. Largely unknown in 2014, glamping has since drawn in a new set of travelers.A new report from Kampground of America shows that 34% of new campers in 2023 opted for glamping, up from 18

Buttigieg defends Biden’s EV strategy after question on how only 8 federal charging stations have been built

Transportation Secretary Pete Buttigieg defended the Biden administration’s push to build half a million electric vehicle (EV) charging stations along U.S. highways by 2030 after being questioned about how just eight have been built since President Biden signed the legislation two years ago.Buttigieg appeared Sunday on CBS' "Face the Nation" where he tried to ease doubts about reaching Biden’s goal of 500,000 chargers by the end of the decade when asked why it wasn’t happening

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Boeing employees' safety, quality concerns surge dramatically in wake of incidents as deadline looms

Boeing released its annual safety report on Friday which showed a dramatic increase in submissions by employees about safety and product quality concerns as the aerospace giant readies a report for regulators to increase its production.The company's third annual safety report found that in early 2024 there was a 500% increase in the use of Boeing's Speak Up tool for employees to submit reports about their concerns in the wake of a Jan. 5 incident in which a Boeing 737 Max 9 door plug panel blew

Growing US debt burden spooks some bond investors as election looms

Bond investors are on edge about federal budget deficits that are expected to persist into the foreseeable future regardless of the outcome of this year's presidential election.Although President Joe Biden and his main challenger, former President Donald Trump, have each touted deficit reduction efforts in their respective administrations, budget forecasts from the nonpartisan Congressional Budget Office (CBO) project the deficit rising from about $1.6 trillion in 2024 to $2.6 trillion a decade

Trump's fellow billionaires boost his presidential bid

Former President Trump's 2024 presidential campaign is getting a financial boost from a group of billionaires as he looks to close the fundraising gap with Democrat rival President Biden.Billionaire Stephen Schwarzman, the CEO and co-founder of Blackstone, announced on Friday that he will back the former president in the 2024 race after he previously called for the Republican Party to turn to a "new generation of leaders."Schwarzman, who is worth an estimated $39 billion, said he shares many Ame

Tesla shareholders urged to nix Elon Musk's $56B pay package

Tesla shareholdersset to vote this week on reinstating CEO Elon Musk's $56 billion pay package, which was voided earlier this year by a Delaware judge, are being urged by a proxy advisory firm to nix it.Glass Lewis said Saturday it urged Tesla shareholders to reject the staggering package, citing its "excessive size," the impact of Musk exercising the stock options and the concentration of the company's ownership.It also cited Musk's "slate of extraordinarily time-consuming projects" which have

British family says SunExpress airline kicked them off flight to Turkey over daughter's peanut allergy

A 12-year-old girl and her family from Britain were kicked off a SunExpress flight from London’s Gatwick Airport to Turkey over her peanut allergy, according to the girl’s father.Nick Sollom, 48,told The Telegraph that the airline booted him, his wife and their two children from the flight after raising concerns over his daughter’s peanut allergy and requesting that the pilot make an announcement asking passengers to refrain from eating peanuts during the flight."They jus

Travelers delayed over 2.1M hours at airports last year: FAA says 'safety' and 'efficiency' is top priority

Americans are unsurprisingly fed up with constant flight delays and cancellations across the U.S., and it is only to be expected. From 2023-2024, passengers lost over 2.1 million hours of time due to travel issues.Data for 2 million flights from the Bureau of Transportation was probed, and a newly released Places to Travel report concluded that from Jan. 2023 to Feb. 2024, passengers lost 2,100,140 hours and 43 minutes of travel time as a result of delays.A small regional airport in Utah, Provo

Is co-owning a home better for your wallet? Real estate experts weigh in

Purchasing a slice of a home with your friends or family may not be as easy as it sounds.While the concept of group homeownership isn’t new (think: timeshares), more and more younger generations are reportedly open to the idea of buying one-fourth or even one-eighth of a property amid a volatile and pricey real estate market."It's just a natural solution to a growing problem that we face here in America, and that many cities face around the world," co-founder and CEO of Pacaso – a pr

How to start a candle business in 2024: 5 easy steps to selling candles from the comfort of your home

Americans are rapidly working on side hustles as an additional source of income.Fifty-four percent of Americans have begun a side hustle in the last twelve months, according to MarketWatch, as a means of making more money in addition to a primary source of income.All you really need to start a side hustle is an idea and an understanding of how to execute that idea. Taking a creative approach to your entrepreneurship can include a hobby-like business, and one of the more popular ones today

Why does Drake have so many companies?

Amid the feud between Drake and rival Kendrick Lamar online sleuths uncovered details about the former's businesses and other holdings that started a buzz on social media. CBC News looks into Drake's business and property holdings and why he has so many.

Stressed at work? Anxious about the wider world? You might be part of 'The Great Exhaustion'

The Great Exhaustion is a new term coined by analysts and economists to describe a pervasive form of burnout that starts with stressdirectly related to work andpiles on anxieties about the state of the world in general.

Walmart promotes Pride merchandise as Target scales back following backlash

Walmart promoted its new Pride apparel on social media ahead of Pride month on Saturday, writing on Instagram, "Not just a slogan.#PrideAlways is a reminder to lead with love.​"The company’s promotion comes just weeks after Target said its Pride collection would only be available in "select stores" following a major backlash by conservatives last year.Target has had June Pride Month displays with rainbow and LGBTQ+ messaging for years, but the addition of products such as

Burger King to release $5 value meal to compete with McDonald's

Fast-food chain Burger King will be debuting a new value meal ahead of schedule as competitor chains launch meal deals of their own."We are bringing back our $5 ‘Your Way Meal’ as agreed upon with our franchisees back in April," a spokesperson for Burger King said on Thursday, May 23.The news was first reported by Bloomberg News.NEARLY 80% OF AMERICANS NOW CONSIDER FAST FOOD A ‘LUXURY’ DUE TO HIGH PRICESThe meal will consist of a choice of three sandwiches alo

Florida woman at Disney park knocked unconscious on five-story waterslide, lawsuit alleges

A woman is alleging in a lawsuit against Walt Disney Parks that a mishap on one of their waterslides left her with a brain injury and a bleeding wound.The lawsuit claims the 25-year-old woman was severely injured while riding the Disney World's Humunga Kowabunga waterslide, which consists of three body tubes totaling 214 feet in length. The ride ends in a nearly five-story plummet in the dark at nearly 40 mph into the pool.The plaintiff claims that she "at some point went unconscious after bangi

Nvidia, Nasdaq hit records, inflation lingers as Memorial Day kicks off summer

-Nvidia shares soar to yet another all-time high-Stocks steady as the Nasdaq notches a new record, juicing retirement accounts-News Corp. and OpenAI ink historic deal-A new crypto-exchange-traded fund may be coming soon-Target shoppers and others are sinking in credit card debt-Inflation will fire-up your BBQ staples this summer-What sank Red Lobster?-The flight from hell claims one life, rocks dozens moreNVIDIA NAILS IT: The chipmaker wowed Wall Street

Lottery payoff of $50,000 for Virginia woman thanks to fortune cookie numbers

A Virginia woman experienced a series of extremely fortunate events that led to her recent 5-figure Powerball win — starting with a literal fortune cookie.Tierra Barley, of Henrico, Virginia, plays the Powerball lottery game with numbers she found in a fortune cookie, she told the Virginia Lottery's website.On May 8, five of those numbers came up in that day's Powerball drawing — netting her a $50,000 win.NORTH CAROLINA MAN WINS $1 MILLION AFTER SISTER PICKS OUT TICKET: '

Florida mansion sells for millions as the highest-priced sale ever in this swanky neighborhood

A Florida home recently became the highest-priced sale in its beachfront town’s history, thanks to its "coastal elegance" and much more.The roughly 4,000-square-foot beachfront home in Santa Rosa Beach, Florida, located on highway 30A, sold for $8.55 million —a sale the whole town is apparently still talking about.In the heart of WaterColor’s Gulf District, this five-bedroom, six-bathroom home was completely renovated in 2018 to give it a modern comfort vibe,

Billy Joel has quite a real estate footprint in New York and Florida

Well-known singer Billy Joel reportedly added to his real estate footprint with the acquisition of an East Hampton, New York property.The musical artist behind songs like "Uptown Girl" and "Piano Man" owns homes in both New York and Florida, according to the New York Post and other outlets. He was raised in the former of those two states, specifically on Long Island.Joel has seen major success during his career, notching over 150 million sales of his records and receiving five Grammy

Memorial Day weekend auto deals are back this year, Edmunds says

Snagging a bargain on a new car during Memorial Day weekend has been a tough thing to do for the past few years as supply chain disruptions and low inventory kept prices elevated, but steep discounts during the summer holiday are back in 2024, according to Edmunds.The car shopping guide issued a report this week showing domestic automakers' outgoing 2023 models have piled up on dealership lots, returning to pre-pandemic levels – and dealers are slashing prices to get rid of them.Edmunds' d

American Airlines passengers in Miami stuck on sweltering Boeing plane: travelers

American Airlines passengers were stuck on a sweltering Boeing jet for more than an hour while waiting to depart from Miami to Costa Rica late Thursday night, two travelers told FOX Business.The American Airlines Flight 1353 passengers say they were deplaned twice before being switched to another aircraft at Miami International Airport. Data from FlightAware says the Boeing 737 eventually left around five hours after scheduled departure and arrived in San Jose earlier this morning."All the

Mega Millions jackpot grows to $489 million after no grand prize winner

The Mega Millions jackpot rose to an estimated $489 million after no tickets matched the winning numbers plus the Mega ball in Friday night's drawing.The winning numbers drawn Friday night were 46, 54, 56, 67 and 70 with a Mega ball of 16. The Megaplier was 3X.While nobody won the estimated $453 million jackpot Friday night, one player in California matched all five white balls to win $1 million, and one player in Texas matched all five white balls and the Megaplier to win $3 million.MEGA MILLIO

Vacation like a celebrity: top travel hot spots for the rich and famous

With summer quickly approaching, social media will likely soon be filled with celebrities enjoying lavish vacations with their loved ones.George and Amal Clooney frequently visit Lake Como during the warmer months. George even owns a home in the iconic Villa Oleandra in Northern Italy.According to Architectural Digest, Clooney purchased his mansion from the Heinz family in 2002 and frequently hosts guests, such as Prince Harry, Jennifer Aniston and Matt Damon, for an Italian getaway.Back w

Many Americans staying home this summer, new Fox poll finds

A new Fox poll shows more than half of Americans are staying home this summer or tweaking their travel plans to be more affordable, starting with this Memorial Day Weekend, which is the unofficial kick-off of summer."We [have] come to the conclusion that the prices of travel, flying outside the country, it's just too much for us to really entertain for the summer," said Tiana Armstrong, who had planned on visiting Italy with her partner.High prices have affected summer plans "some or a gre