(Reuters) - EV startup Fisker said on Wednesday it is withdrawing all financial forecasts for 2024 and is continuing to evaluate strategic options.
(Reporting by Manya Saini in Bengaluru; Editing by Krishna Chandra Eluri)
CALGARY — The long-awaited Trans Mountain pipeline expansion is complete and the Canada Energy Regulator has given the go-ahead for the project to open. The regulator said Tuesday it has approved the last remaining "leave to open" applications submitted by Trans Mountain Corp., the Crown corporation behind the project. Approval of these applications was required before the expanded pipeline could begin shipping oil. Also on Tuesday, Trans Mountain confirmed that Wednesday, May 1 will mark the co
It's time for your second act.
About 300 people have joined a $9.5-million class action lawsuit against the Calgary Stampede, which admitted negligence after a serial sexual abuser worked for decades with teenage performers from the Young Canadians, a judge heard Tuesday. Lawyers for the claimants and Stampede were in court Tuesday to update Court of King's Bench Justice Paul Jeffrey on how the funds will be distributed and to work out details of a plan to notify all potential class members of an upcoming settlement approval
Chinese car makers are finding the road to succeeding in the EU slow and bumpy.
(Reuters) -Reliance Industries has bought 2 million barrels of Canadian crude from Shell for July delivery, marking the Indian refiner's first oil purchase from Canada's new Trans Mountain pipeline, trade sources said. Reliance joins a growing group of Asian refiners in buying Canadian crude to be exported from the new pipeline which is scheduled to start transporting oil in May. The Canadian government-owned pipeline expansion will nearly triple the flow of crude from Alberta to Canada's Pacific Coast and open up access to Asia and the U.S. West Coast. Shell will perform ship-to-ship transfers to move about four 500,000-barrel cargoes of Access Western Blend (AWB) onto a Very Large Crude Carrier and ship the oil to the Sikka port, the sources said, where Reliance operates the world's biggest refining complex.
Canada’s workforce is older than it has ever been, and many are surprised to learn they could lose access to short- and long-term disability insurance the day they turn 65.
FORT MCMURRAY, Alta. — As the urban centre at the heart of Canada's oilsands industry, Fort McMurray has seen more than its share of ups and downs. A decade and a half ago, the northern Alberta community was this country's most famous boom town. High oil prices helped to drive unprecedented demand for the thick, viscous bitumen that lies beneath the earth's surface here, and workers flocked from around the world to cash in on the bonanza. Then crude prices crashed, layoffs began, and the frenzy
STORY: Elon Musk looks to be doing more layoffs at Tesla. Reports by The Information on Tuesday (April 30) say he’s fired two top executives, and plans to get rid of hundreds more workers. Musk is said to be frustrated by falling sales, and the pace of earlier job cuts. The story quotes an email said to be from Musk. In it he says, “these actions are making it clear that we need to be absolutely hard core about headcount”. In an apparent warning to managers, he says “while some on exec staff are taking this seriously, most are not yet doing so”. There was no immediate response to a Reuters request for comment. It all follows a move earlier this month to shed some 10% of the company’s workforce. Tesla is grappling with falling sales and an intensifying price war which it started. Reporting earnings last week, it said all that led to its first quarterly drop in revenue since 2020. Musk this weekend made a surprise visit to China, the epicenter of the price battle. There he made progress on rolling out the brand’s advanced driver assistance features in the country. However, Tesla faces fierce competition from local makers like BYD in what is now the world’s biggest car market.
Assault charges against two security guards who worked at a downtown Halifax bar have been withdrawn moments before their trial was supposed to get underway.Alexander Levy, 38, and Matthew Day, 33, were both charged in relation to an incident outside the Halifax Alehouse on Oct. 10, 2022. A customer was allegedly attacked by two bouncers and held in a choke hold after being kicked out of the bar. A Crown lawyer told Judge Kelly Serbu in Halifax provincial court on Tuesday they will not be procee
BEIJING (AP) — Tesla CEO Elon Musk met with a top government leader in the Chinese capital Sunday, just as the nation's carmakers are showing off their latest electric vehicle models at the Beijing auto show. Chinese Premier Li Qiang told Musk that he hopes the U.S. will work more with China on “win-win” cooperation, citing Tesla's operations in China as a successful example of economic cooperation, China's state broadcaster CCTV said on its main evening news program. For China, Musk is a welcom
German engineering company BAUCH makes machines and engine components out of materials mined in China, Africa or South America that pass through multiple hands and processes before they reach its factories in southern Germany and China. To comply with Germany's new Supply Chain Act, BAUCH, like other firms with more than 1,000 staff, must take due diligence procedures to monitor suppliers' human rights and environmental protection standards - a task which CEO Manfred Bauch says is almost impossible and threatens to rip apart his supply chain.
Gen Z has a reputation for having what you might call a "relaxed" attitude toward work. A Visier survey of 1,000 U.S. employees found that work aspirations ranked fourth in priority for Gen Z...
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NEW YORK (AP) — It's never fun to be scammed, but if you're a small business owner then falling for a scam can have long-lasting effects on a business, damaging client relationships and profit. Plenty of types of scams exist, but a few affect small businesses the most. According to the Federal Trade Commission, small businesses should be on the lookout for phony invoices and unordered merchandise. Scammers send out fake invoices and hope businesses won't notice. Similarly, scammers call saying t
HALIFAX — A Nova Scotia judge received good news Tuesday during an update on the proposed sale of SaltWire Network Inc. and The Halifax Herald Ltd., two financially troubled companies that operate Atlantic Canada's largest newspaper chain. Those shepherding the restructuring process told Nova Scotia Supreme Court Justice John Keith that progress is being made toward securing a deal that could see all or part of the insolvent businesses sold to one or more bidders. "Everything has unfolded the wa
The Maryland woman was fired the day of her baby’s memorial service, feds say.
European car giants Volkswagen, Mercedes-Benz and Stellantis all posted lower sales and first-quarter revenue on Tuesday as they geared up to launch new models, faced higher costs and were hit by weaker demand for new cars as interest rates remain high. The news hit the automakers' stocks. Mercedes shares were down 4.4%, Stellantis 4% and Volkswagen 2.7%.
McDonald's missed quarterly profit estimates for the first time in two years as budget-conscious consumers looked past its offers and the Middle East conflict weighed on the burger chain's international sales. Global comparable sales growth slid for the fourth straight quarter to 1.9%, with the company saying consumers turned "more discriminating with every dollar they spend". "Consumer is certainly being very discriminating in how they spend their dollar ... I think it's important to recognize that all income cohorts are seeking value," McDonald's CEO Chris Kempczinski said on a post-earnings call.
(Reuters) -A utility owned by Warren Buffett's Berkshire Hathaway faces $30 billion of new claims blaming it for causing Oregon wildfires in 2020, nearly four times the maximum loss it had projected. One thousand victims filed claims against the PacifiCorp utility on Monday in a state court in Portland. The claimants were added to litigation where a jury last June ordered PacifiCorp to pay $90 million to 17 claimants for gross negligence over its failure to shut down power lines during a Labor Day windstorm.
The union representing some 12,000 TTC workers has voted overwhelmingly in favour of a strike if contract negotiations with the transit agency fall apart.Amalgamated Transit Union (ATU) Local 113 says its member who voted in a tally taken Friday night were 98 per cent in support of strike action.Bargaining between the union and the TTC is still ongoing after the previous collective agreement expired on March 29."Our members are clearly angry and upset about how they have been treated at work," A
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