With the constantly evolving world of business, staying up-to-date with the latest news is crucial. Here’s a roundup of some of the biggest Canadian business news stories from the past week:
1. BlackBerry Settles Patent Dispute with Facebook
BlackBerry, the once-dominant smartphone maker, has settled its long-running patent dispute with social media giant Facebook. The agreement ends years of legal battles and enables both companies to continue to focus on innovation.
2. Air Canada Acquires Transat
Air Canada, the country’s largest airline, has completed the acquisition of tour operator Transat. The deal will expand Air Canada’s capacity and give it greater control over holiday travel arrangements.
3. CIBC Announces Strong Q2 Results
Canadian Imperial Bank of Commerce (CIBC) has reported a net income of $1.6 billion for the second quarter of 2021. The results reflect strong performance in its core businesses, with growth in retail and business banking, wealth management, and capital markets.
4. Toronto-Dominion Bank to Acquire Wells Fargo’s Canadian Direct Equipment Finance Business
Toronto-Dominion Bank (TD) has reached an agreement to acquire Wells Fargo’s Canadian Direct Equipment Finance business. The acquisition is expected to strengthen TD’s position in the equipment finance market and broaden its customer base.
5. Shopify Reports Record Q1 Earnings
E-commerce giant Shopify has reported record earnings for the first quarter of 2021, with revenues jumping 110% year-over-year to $988.6 million. The company attributed the strong results to its growing merchant base and increasing adoption of its services.
These are just a few of the most noteworthy business stories from the past week in Canada. Stay tuned for more updates as the business landscape continues to evolve.
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