All Business stories

Dollarama can’t stop, won’t stop, making money

Despite consumer outrage over the fact some things cost five bucks there these days — a miscarriage of retail justice if there ever was one — shoppers keep going back to Dollarama.

What happened: The bargain seller reported a 24% jump in profits for the final quarter of 2023 alongside an 8.7% rise in comparable store sales (which tracks growth without counting new locations) as Canadian shoppers increased their number of dollar store trips.  

The solar eclipse economy is booming

Total Solar Eclipse 2024: A once-in-a-lifetime chance to witness the celestial event, and a great excuse to stick an Oreo on a doughnut and charge extra for it.

Driving the news: On Monday, the sun will disappear behind the moon for roughly four minutes, spanning parts of Ontario, Québec, New Brunswick, P.E.I., Nova Scotia, and Newfoundland and Labrador. People are excited, and the eclipse business is booming. 

Disney wins its boardroom battle

Disney can return to making magic after showing its critics that Bob Iger is here to stay.  

What happened: One of the world’s most important entertainment companies and its CEO Bob Iger prevailed in a boardroom battle against the activist investor Nelson Peltz, marking the end of a dramatic (and expensive) campaign to secure the confidence of shareholders. 

RBC puts the finishing touches on HSBC takeover

If you spotted an RBC on your commute this morning you could have sworn was an HSBC, don’t worry, you’re not going crazy… 

Driving the news: We hope you’ve said your final goodbyes to HSBC’s Canadian arm, since this week you’ll find that dozens of HSBC branches transformed into RBCs overnight, marking the final stages of the 2022 $13.5 billion acquisition by the country’s largest bank. 

How does motorcycle racing affect your pension?

The owner of Formula One is looking to diversify its portfolio of ‘vroom vroom sports’ (as we like to call them).

What happened: Liberty Media is in late-stage discussions to buy Dorna Sports — the owner of MotoGP, the world’s top motorcycle road racing league — for a cool €4 billion. 

Class is in session for Spotify

The tuition for Spotify University could be the latest way the streamer gets as much money as it can from its users.

Marineland stays in hot water

Marineland’s marketing team might’ve forgotten to consult the animals before deciding to stick with the famous “Everyone loves Marineland” jingle.

Driving the news: Marineland has denied claims that it’s closing down, despite a tumultuous month that has included animal cruelty charges and reports of two more dead whales, bringing the park’s tally of whale deaths to a gut-wrenching 17 since 2019. 

Cocoa prices are going cuckoo

Warning: the Easter Bunny might be dropping off fewer chocolate eggs than usual this year. 

Driving the news: Over the past year, cocoa futures have surged 250% as suppliers grapple with a historic shortage. After breaking a record high last month, prices have passed US$10,000 per metric tonne, a number that would have been unthinkable just weeks ago. 

Reddit’s IPO was a success. Now what?

Before we get too far into it, let’s answer a burning question: Yes, someone dressed as Reddit’s alien mascot rang the NYSE’s opening bell on Thursday.

Unilever gives ice cream the cold shoulder

Like a vanilla cone on a scorching July day, Unilever’s faith in its ice cream biz is melting.

What happened: Gargantuan multinational Unilever plans to spin off (or if all else fails, sell) its ice cream business by the end of next year. With popular brands like Ben & Jerry’s, Breyers, and Magnum, the new entity would be the world’s largest ice cream company.