All Business stories

The Body Shop is no longer fresh and fragrant

A fading star of Canadian malls now has a stench that not even a coconut body scrub can wash off.  

Driving the news: The Body Shop Canada is shuttering 33 (over a third) of its locations,  ending online sales, and laying off over 200 workers after filing for creditor protection. The brand says it had to take these measures after its parent company siphoned money from it. 

Canada looks for answers to mineral slump

Canadian miners could be getting a shiny new pricing system that may help even the playing field with their competitors overseas. 

Driving the news: A federal cabinet minister says the government is exploring a way to manage prices of critical minerals, like nickel and cobalt, to mitigate the impact of a production boom overseas that’s sent mineral prices plunging.

Figure gets a lot of cash to bring robots to factories

The market for human-looking robots just got a lot more money pumped into it.

What happened: Figure AI announced a US$675 million Series B round that values the two-year-old robotics startup at US$2.6 billion. Some big names in tech seem to think it’s a solid enough bet that their cash comes with new partnerships.

Sports cards reel in big bucks

Sure, trading stocks is cool and all, but have you tried trading your old sports cards? 

What happened: This week, an unopened case of hockey cards rumoured to have more than two dozen rare Wayne Gretzky rookie cards sold for $5 million at an auction.

Germany legalizes recreational cannabis

This year’s Oktoberfest celebrations could have a much chiller vibe, and it’s all thanks to some weed-loving lawmakers in Germany.

Driving the news: Germany is the latest country to legalize cannabis for recreational use, a move that lays the groundwork for commercial legalization by 2030 and opens the door for Canadian producers looking to cash in on weed sales within the EU’s biggest economy. 

Another budget airline bites the dust

In what’s probably the most rational decision the company’s made since changing its name from Jet Naked, Lynx Air has decided it’s time to throw in the towel. 

What happened: Budget airline Lynx Air officially stopped flying last night, winding down operations after just two years in the skies. It's the latest discount airline to fall flat in an increasingly difficult Canadian aviation market. 

Reddit is (finally) ready to make its IPO

TL;DR: Reddit is coming to the stock market.

Uber launches delivery robots in Japan

A new army of robots is coming… but don’t worry, they’re not trying to take over the world. They’re just here to deliver your McDonald’s. 

What happened: Starting next month, some Tokyo residents will have their Uber Eats orders delivered by an adorable autonomous robot. Japan is already known as the home to many restaurant robot servers, but it’s the first international market to adopt robot delivery on Uber. 

VCs are worried about money, too

Tech companies that want to catch an investor’s eye need to think less about flashy moonshots and more about old-fashioned returns on investment.

Reddit cuts mystery AI licensing deal

It turns out Reddit threads aren’t just a valuable way to crowdsource advice from strangers, they’re also worth tens of millions of dollars to at least one AI company.

What happened: Reddit has cut a ~US$60 million licensing deal to sell access to the user-generated content from its platform to an unnamed AI company, per Bloomberg