Business News Summary Headlines

Company releases, economic news, and business coverage.

Lululemon, MEC, Arc'teryx and Moosehead Breweries join Facebook ad boycott

Canadian companies are joining a growing list of top international brands vowing not to advertise on Facebook Inc. in July because of the company's refusal to deal with the spread of hateful content on its platform.

Vancouver athletic wear companies Lululemon Athletica Inc., Mountain Equipment Co-op and Arc'teryx and New Brunswick-based Moosehead Breweries are pulling their paid ads from Facebook and joining a boycott that has already been supported by Coca-Cola, Unilever, Honda America, Patagonia and more.

Monday, June 29, 2020 | 05:18 PM

Toronto stock market starts week with broad rally led by energy sector

TORONTO - Canada's main stock index got a lift to start a holiday-shortened week with a broad-based rally led by the energy sector.

The month of June looks set to end with the same trajectory as April and May, in a rebound from the March lows.

Monday, June 29, 2020 | 05:10 PM

Lululemon buys in-home fitness company Mirror in $500-million deal

TORONTO - Lululemon Athletica Inc. has entered into an agreement to acquire in-home fitness company Mirror.

The deal is valued at $500 million and will see the Vancouver-based athleticwear brand take over New York-based Mirror, which runs an interactive workout platform that features live and on-demand fitness classes.

Monday, June 29, 2020 | 04:31 PM

New models show COVID-19 progress but with 'hotspots' to monitor

OTTAWA - Canada's chief public health officer says the country appears to have largely gotten a handle on the spread of COVID-19, limiting transmission after weeks of restrictions that are being slowly eased — raising the possibility of numbers going back up.

Dr. Theresa Tam said efforts since mid-March to contain the spread of the novel coronavirus seem to place the country far enough down from the peak of the first wave of the outbreak.

Monday, June 29, 2020 | 04:28 PM

Hootsuite names new CEO to replace founder amid 'reckoning' for social media

VANCOUVER - Hootsuite has named a new CEO to replace founder Ryan Holmes after his 12 years at the helm of the Vancouver-based tech company.

Tom Keiser, former chief operating officer of Zendesk, headquartered in San Francisco, will take over as of July 6.

Monday, June 29, 2020 | 03:22 PM

Cirque du Soleil files for creditor protection, terminates 3,480 jobs

MONTREAL - The Cirque du Soleil, whose aerobatic shows have been halted by COVID-19, has filed for creditor protection while it develops a plan to restart its business.

The company says it will seek court protection from creditors under the Companies' Creditors Arrangement Act at a hearing Tuesday at Quebec Superior Court.

Monday, June 29, 2020 | 03:14 PM

Air Canada racks up more refund complaints than any foreign airline in U.S.

Air Canada has more customer complaints about refunds to the U.S. Department of Transportation than any non-U.S. airline.

The department says Air Canada received 969 refund complaints out of 7,568 in April, or 13 per cent, outpacing more than 80 carriers in the category.

Monday, June 29, 2020 | 02:55 PM

Tim Hortons mobile ordering app under investigation by Canadian privacy agencies

GATINEAU, Que. - The Tim Hortons mobile ordering app is being investigated by the Office of the Privacy Commissioner of Canada and provincial agencies in Quebec, B.C. and Alberta.

The joint investigation was prompted by concerns raised in media reports about how the app may be collecting and using data about people’s movements as they go about their daily activities.

Monday, June 29, 2020 | 12:55 PM

Great-West subsidiary buying Personal Capital in deal worth at least US$825M

Great-West Lifeco Inc. will shell out more than US$800 million to buy U.S. investment manager Personal Capital — and its chief executive hinted the company is prepared to dip into its coffers again if other promising deals come along.

Great-West subsidiary Empower Retirement said Monday that it will pay US$825 million for the hybrid wealth manager that combines a digital experience with personalized advice delivered by people. It could spend up to US$175 million more, if specific target growth objectives are met.

Monday, June 29, 2020 | 12:37 PM

Frank and Oak latest Canadian clothing retailer to file for creditor protection

MONTREAL - Frank and Oak is the latest clothier retailer to seek creditor protection as it faces challenges dealing with the COVID-19 pandemic

Parent company Modasuite Inc. last week filed a notice of intention that it plans to file a proposal under the Bankruptcy and Insolvency Act.

Monday, June 29, 2020 | 12:12 PM