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Indigo launches transformation plan in hopes of returning retailer to profitability

Published Sat, 02 Nov 2024 16:28:05 GMT

TORONTO — The head of Indigo Books and Music Inc. says the company is embarking on a transformation plan.Heather Reisman didn’t outline what specific steps the plan includes but says it is filled with short- and long-term initiatives meant to deliver growth and profitability to the books and home goods retailer.She cautioned it will take a bit of time before Indigo sees its finances reach the levels she desires, but feels the company is headed in the right direction.Reisman’s remarks were made on Indigo’s quarterly call, the first since she returned to the company following her retirement.On top of a slew of executive changes, Indigo’s second quarter included the launch of a new e-commerce platform. However, Reisman and Indigo chief financial officer Craig Loudon say the platform faced “critical disruptions” that hampered its online sales.This report by The Canadian Press was first published Nov. 8, 2023.Companies in this story: (TSX:IDG)The Canad...

Fossil fuel interests have large, yet often murky, presence at climate talks, AP analysis finds

Published Sat, 02 Nov 2024 16:28:05 GMT

The badges said they were there to participate in negotiations to curb climate change. They stated affiliations like the government of Brazil, Indigenous organizations of the Amazon, the Climate Registry. But in reality, the livelihoods of these participants were more aligned with what’s keeping the problem going: fossil fuels. Close to 400 people connected in some way or another to fossil fuel industries attended last year’s United Nations’ climate talks in Egypt, a grouping that was larger than all but two of the national delegations sent by countries, according to a data analysis of the more than 24,000 participants by The Associated Press. As United Nations leaders, scientists and others called for an eventual elimination of coal, oil and natural gas, various delegations included attendees who in some way owed part or all of their paychecks to fossil fuel burning. Many of these same people, and possibly even more connected to fossil fuels, will likely be at this year’s officia...

Turkish high court upholds disputed disinformation law. The opposition wanted it annuled

Published Sat, 02 Nov 2024 16:28:05 GMT

ANKARA, Turkey (AP) — Turkey’s highest court on Wednesday upheld a controversial media law that mandates prison terms for people deemed to be spreading “disinformation,” rejecting the main opposition party’s request for its annulment.The legislation calls for up to three years in prison for journalists or social media users convicted of spreading information deemed to be “contrary to the truth” concerning domestic and international security, public order or health.It was approved in parliament a year ago with the votes of legislators from President Recep Tayyip Erdogan’s ruling party and its nationalist allies, heightening concerns over media freedoms and free speech in the country. The main opposition party had petitioned the Constitutional Court seeking its annulment, arguing that the law would be used to further silence government critics by cracking down on social media and independent reporting. The court’s justices, however, rejected the request by a majority vote during...

Ikea Canada leaning on automation as it overhauls fulfilment network: new CEO

Published Sat, 02 Nov 2024 16:28:05 GMT

TORONTO — When people north of Toronto visit Ikea’s store in Vaughan, Selwyn Crittendon says it will be hard to tell there’s a transformation underway in the bowels of the building, away from the maze-like aisles leading customers through the showroom.It’s in those hidden spaces that the Swedish home goods and furniture retailer is installing dedicated loading bays so staff don’t have to wheel orders out a side door and lift them onto trucks, said Ikea Canada’s chief executive officer and chief sustainability officer.“From a consumer perspective, you won’t notice so much of the change,” said Crittendon, who has spent roughly three months on the job he took after about 20 years at Ikea U.S..But his hope is that shoppers and staff eventually notice the effects of the invisible changes as orders arrive faster and take much less grunt work.The store’s transformation is only one of the initiatives the company has underway to boost eff...

German government advisers see only modest economic growth next year

Published Sat, 02 Nov 2024 16:28:05 GMT

BERLIN (AP) — Germany’s economy will shrink by 0.4% this year and grow only by a relatively modest 0.7% next year, the government’s panel of independent economic advisers forecast Wednesday.The panel joined several other forecasters in revising downward its outlook for Europe’s biggest economy. Its prediction for this year was in line with one issued by the government about a month ago, but next year’s forecast was considerably gloomier than the 1.3% the government expects.In their previous outlook in March, the experts had forecast that gross domestic product would grow 0.2% this year and 1.3% in 2024.The panel’s chair, Monika Schnitzer, said that “the economic recovery in Germany is delayed — it is … still being slowed by the energy crisis and reduced real income caused by inflation.” She noted that central banks’ interest rate increases and economic weakness in China have made Germany’s trading environment more difficult, while the ...

How Joan Kroc’s surprise $1.8 billion gift to the Salvation Army transformed 26 communities

Published Sat, 02 Nov 2024 16:28:05 GMT

First-class recreation centers in low-income neighborhoods — dozens of them, scattered around the nation. That was the vision of Joan Kroc, billionaire philanthropist and heiress to the McDonald’s fortune of her husband, Ray. When she died in 2003, Joan Kroc stunned the Salvation Army when she left what amounted to $1.8 billion — roughly half her fortune —with instructions to carry out her wish for the centers. In today’s dollars, that is $2.9 billion.And today, 20 years later, 26 grand, state-of-the-art Kroc centers have opened in places as varied as Ashland, Ohio; Guayama, Puerto Rico; and Quincy, Illinois. Salvation Army officials say 1.2 million people belong to Kroc fitness centers, and over 3 million people annually are served through a wide variety of other programs, including job training, theatrical performances, and afterschool care.The Phoenix Kroc Center hosts a financial literacy course and filmmaking workshop. In Boston, a culinary arts program provides job training. S...

Durham police to update investigation into shooting death of security guard at Pickering casino

Published Sat, 02 Nov 2024 16:28:05 GMT

Durham Regional Police are set to provide an update on their investigation into the murder of a security guard at a casino in Pickering last month.Police were called to the Pickering Casino Resort in the early morning hours of Oct. 9 for reports of shots being fired.The casino was evacuated and a man was found with a life-threatening gunshot wound. He was later pronounced dead in hospital.The victim was identified as 34-year-old Michael Ferdinand, who was a security guard at the resort. Investigators said he was fatally shot while on the job inside the casino.At the time, police said they were looking for a large group of men and women who fled the scene.The update is set for 10 a.m. at Durham police Central West Division in Whitby.

Bus maker NFI Group raises full-year guidance, reports US$39.9M Q3 loss

Published Sat, 02 Nov 2024 16:28:05 GMT

WINNIPEG — NFI Group Inc. raised its financial guidance for its full year as it reported a loss of US$39.9 million in its third quarter.The bus maker, which keeps its books in U.S. dollars, says its loss amounted to 42 cents per share for the quarter ended Oct.1, compared with a loss of US$40.2 million or 53 cents per share a year earlierRevenue totalled US$709.6 million, up from US$514.0 million in the same quarter last year.On an adjusted basis, NFI says it lost 41 cents per share in its latest quarter compared with an adjusted loss of 60 cents per share a year earlier.In its outlook, NFI says it now expects revenue of US$2.7 billion to US$2.8 billion for 2023, up from earlier expectations for US$2.6 billion to US$2.8 billion.Adjusted earnings before interest, taxes, depreciation and amortization are expected to total between US$45 million and US$65 million, up from earlier guidance for between US$40 million and US$60 million.This report by The Canadian Press was first published N...

Effort to remove Michigan GOP chair builds momentum as infighting and debt plague party

Published Sat, 02 Nov 2024 16:28:05 GMT

LANSING, Mich. (AP) — Former staunch allies of Michigan GOP Chairwoman Kristina Karamo, who assumed the role following an unsuccessful secretary of state campaign, are now uniting to remove her as the party remains mired in infighting and hundreds of thousands of dollars in debt.It’s a swift fall for Karamo, an election conspiracy theorist who in February was overwhelmingly elected by grassroots activists to lead the state party through the next presidential election until early 2025. Michigan Republicans were coming off historic losses in the 2022 midterms, and Karamo promised to rebuild the state party into a “a political machine that strikes fear in the heart of Democrats.”Just nine months later, a petition is circulating within the state GOP calling for a vote to remove Karamo as chairwoman, according to internal communications obtained by The Associated Press. Party members supporting the petition say Karamo has done little in her time to advance the party, which had at l...

Las Vegas hotel workers union reaches tentative deal with Caesars, but threat of strike still looms

Published Sat, 02 Nov 2024 16:28:05 GMT

LAS VEGAS (AP) — The labor union representing tens of thousands of Las Vegas hospitality workers announced early Wednesday that it had reached a tentative deal with casino giant Caesars Entertainment, a major breakthrough that could help avert an unprecedented strike at more than a dozen hotel-casinos on the Las Vegas Strip.The announcement came after several months of tense negotiations and just days before the Culinary Workers Union’s deadline for a strike. The union said in a post on X, formerly known as Twitter, that the agreement toward a 5-year contract for about 10,000 workers came after 20-straight hours of negotiations.A walkout could still happen if deals aren’t reached by 5 a.m. Friday with MGM Resorts International and Wynn Resorts. But the tentative agreement with Caesars could provide the momentum needed for the Culinary Union to win new 5-year contracts for all 35,000 of its members who have been working under expired contracts at 18 properties owned or op...