A U.S. regulator has ordered TD Bank to pay $28 million USD over consumer credit reports claiming that the bank provided inaccurate, negative information about customers to credit reporting agencies, which could have a harmful impact on customers’ credit scores. This payout includes $20 million in the form of a U.S. civil fine as well as $7.76 million in restitution to tens of thousands of customers. According to the Consumer Financial Protection Bureau (CFPB), TD Bank has repeatedly provided this inaccurate information, including errors...

Factory workers at Boeing’s U.S. West Coast factories are on strike after rejecting an offer that would have given workers a 25 percent wage increase over the next four years and a $3,000 signing bonus, as well as a pledge to build the next commercial jet in the area if the contract was launched over the contract’s four-year term. The already beleaguered manufacturer suffered the blow when 96 percent voted in favor of strike action, which halted production of its 737 MAX and other jets while it struggles with delays and debt loads. The union...

After weeks of rigorous negotiations, Air Canada has managed to secure a last-minute deal to avert a strike with more than 5,200 pilot members of the Air Line Pilots Association (ALPA). The potential for work stoppage had everyone on the edge of their seats, and could have impacted nearly 670 flights per day carrying upwards of 110,000 passengers and freight to their desired destinations. Part of the issue with the contract was the desire for pilots to close the wage gap that they felt was growing between them and U.S. airline counterparts,...

Red Lobster’s restructuring plan has received the approval of the Superior Court of Justice in Canada and will move out of bankruptcy as a result. This follows the approval of a U.S. bankruptcy court which was contingent on the Canadian court’s approval. The plan will see all 27 Canadian restaurants remain open. This will bring the total number of restaurants to 544, down from 578 when bankruptcy was filed in May of this year. A lender group headed by asset manager Fortress will acquire the business and a new CEO will be assigned thanks to...

Starbucks CEO Laxman Narasimhan has been removed from the role after only a year and a half after a larger than expected drop in sales. Brian Niccol of Chipotle was named his replacement and will assume the role September 9. He has been credited with growing Chipotle’s stock price by nearly 800 percent under his leadership. Narasimhan, who was scrutinized for his lack of experience in the restaurant sector, was facing growing pressure to improve the financial performance of the coffee chain, which has faced weaker demand amid price rises and...

Members at some of Costco Wholesale’s Canadian locations will be subject to its test of membership card scanners at the entrances at stores in Ottawa, Edmonton, Regina, and the B.C. Lower Mainland in a pilot that will test the approach at only a handful of its more than 100 stores across Canada. Currently, there are greeters who verify that visitors have valid membership cards. Customers at participating stores will need to scan their card before entering and visitors must be accompanied by a valid member for entry into the store.

Tourmaline Oil Company will acquire Montney-focused natural gas producer Crew Energy Inc. for $1.3 billion, another takeover in the company’s years-long efforts to aggressively snap up natural gas assets including exploration, development, and production to position itself as Canada’s largest natural gas producer by volume and the fifth largest in North America. The deal is expected to close in October and once closed, will increase the company’s 2024 production volume guidance to between 582,500 and 592,500 barrels of oil equivalent (boe)...

Corus Entertainment has filed with the Canadian Radio-television and Telecommunications Commission (CRTC), claiming that Rogers has used its dominance in the market to put Corus and other independent media companies at an unfair disadvantage, contrary to conditions that were set by the CRTC when it approved the company’s takeover of Shaw’s broadcasting services. The beleaguered Corus, which has faced an ongoing financial crisis, claims that Rogers “weaponized” its media dominance since the takeover in 2023, failing to “treat independent...

A CrowdStrike outage last month that caused mass flight cancellations and customer compensation in the form of both cash and SkyMiles has reportedly cost Delta Air Lines $550 million: $380 million in revenue and $170 million in associated expenses. As such, the carrier plans to pursue legal action against both CrowdStrike and Microsoft to recoup its costs. The incident led to the cancellation of approximately 7,000, flights impacting 1.3 million customers, which caused mass confusion to reschedule. Delta, more than its competitors, suffered...

With more than $50 million in liabilities, B.C. Tree Fruits Cooperative, an organization that has served farmers for nearly a century with storage and packing, amongst other supports, has filed for creditor protection due to a liquidity crisis caused by a series of hard years. The move comes after the co-operative announced that it would be shuttering last month in response to “extremely low” estimated fruit volumes due to a winter deep freeze that decimated blossoms paired with “difficult market and financial conditions,” though there were...