Hello and welcome back to Top Five Friday Finds – the weekly series where we share five of the business news stories that dominated the papers (and our conversations) this week.
On Wednesday the U.S. Commerce Department finalized duties of 300% against passenger jets made by Bombardier. The duties were triggered by a complaint by Boeing, who claimed that the Canadian government’s support of their beloved airplane manufacturer was unfair.
Teamwork is great – unless that teamwork involves price-fixing. This week, Loblaws admitted to participating in an industry-wide bread price-fixing arrangement. While the investigation is still ongoing, Loblaws has already stated “mea culpa” and is offering customers a $25 goodwill card.
Have you heard of Long Island Iced Tea Corp.? I mean…….Long Blockchain Corp.? This week, the small scale non-alcoholic beverage company rebranded itself, triggering a rise in share value of 289%! Long Island’s rebrand is part of a new phenomenon, in which obscure microcap companies reorient themselves to capitalize on current cryptocurrency mania.
It looks like the demise of former Canadian icon Sears is the “2017 Business News Story of the Year”. The biggest victim of Canada’s “so-called retail apocalypse”, the company’s collapse – and the chaos that followed its liquidation – impacted employees, lenders, and consumers from sea to sea.
And finally, its time to talk data security. On Thursday Nissan released that unauthorized persons gained access to some 1.13 million customers data. The announcement came 10 days after the breach was discovered – a fact that has left disgruntled customers extra unhappy.
– Tegan Valentine