Canadian, U.S. stock markets notch new record highs amid continued AI boom

TORONTO - Stock markets in Canada and the U.S. reached new highs, powered by gains in energy and AI, respectively.

Theresa Shutt, chief investment officer at Harbourfront Wealth Management, said themes around higher risk appetite driven by “AI fervour” helped lift the U.S. market. She said this was somewhat counterbalanced by lingering tensions between the U.S. and Iran and concerns that the market has risen too high.

The S&P/TSX composite index was up 434.57 points at 35,169.46.

In New York, the Dow Jones industrial average was up 228.91 points at 51,307.79. The S&P 500 index was up 9.82 points at 7,609.78, while the Nasdaq composite was up 7.09 points at 27,093.90. The S&P 500 rose 0.1 per cent after drifting between small gains and losses through the day.

Overcoming workplace conflicts, setting boundaries can create professional resilience

One of the clearest signs of professional maturity is the ability to continue working effectively with someone after a disagreement, misunderstanding or difficult chapter in the relationship.

Mushroom producers face ‘worrying’ duties

Prices may mushroom for American fungi lovers — and the company behind a Manitoba grower is contesting new duties disrupting the industry.

Loveday Mushroom Farms ships roughly 10 million pounds of mushrooms annually from its Oakbank plant to the United States. It accounts for one-fifth of the mushrooms parent company South Mill Champs grows in Canada and sells south of the border.

“We’ve got a good customer base in the U.S. and Canada,” said Lewis Macleod, South Mill Champs chief executive.

But the American base will likely be hit with higher mushroom prices: South Mill Champs plans to pass a new duty to customers, upping the cost of its portabellas and shiitakes.

Ohio suspends data center tax break as tech firms face pressure to pay the cost to power AI

Ohio, one of the nation’s data center destination hot spots, is suspending a tax break that has been critical to its competition with other states to attract the massive new facilities that power and train artificial intelligence chatbots.

The move Wednesday by Republican Gov. Mike DeWine comes as tax breaks for energy-hungry AI data centers are increasingly playing a role in state budgets and the industry is under pressure to pay the full costs of the vast network of its computing warehouses needed to power AI.

The size of Ohio's tax break skyrocketed, dwarfing previous projections, as opposition to data centers is sweeping through cities, suburbs and towns there and prompting lawmakers to form a committee to study the impact.

In the meantime, residents are trying to bypass the GOP-controlled Legislature and get a referendum on November's midterm election ballot that's designed to permanently ban hyperscale data centers, likely the strictest such statewide ban under consideration in the U.S.

Chinese online retailer Temu hit with $232 million fine over unsafe toys and electronics

LONDON (AP) — Temu was hit with a 200 million euro ($232 million) fine Thursday after a European Union investigation found the Chinese online retailer failed to protect consumers from illegal products like toxic or hazardous toys and unsafe electronics.

The 27-nation EU's fine follows preliminary findings last year that Temu was exposing consumers to a high risk of products sold on its platform like baby toys and small electronics that didn't comply with EU consumer safety rules.

The bloc's executive arm issued the penalty under the Digital Services Act, or DSA, a wide-ranging rulebook that requires online platforms to do more to keep internet users safe from harmful content or dodgy goods, under the threat of hefty fines.

It's the second time Brussels has issued a fine under three-year-old DSA, following a $120 million penalty last year for Elon Musk's social media site X.

‘Letting it rip’: Beyblade fanatics are giving childhood craze another spin

RICHMOND -

At Imperial Hobbies in Richmond, B.C., the air is filled with the sounds of battle.

"Three, two, one — shoot!"

The combatants unleash their weapons, setting off high-pitched whirring, and clashes of plastic and metal.

Some brands say their jeans are eco-friendly. Here’s how to find a pair that’s actually sustainable

NEW YORK (AP) — Your favorite pair of jeans may have traveled around the world through cotton farms, dye houses, wash facilities and factories before ending up in your closet. The denim may have never been worn but it is stonewashed, sanded, chemically faded or laser-treated to look like it.

Those processes can require significant amounts of water, energy and chemicals — part of the reason denim has become a growing target for sustainability efforts across the fashion industry, which is among the world’s biggest producers of greenhouse gas emissions.

Brands are responding to wider awareness by marketing their jeans as “sustainable,” touting regenerative cotton, recycled fibers and low-water manufacturing techniques. But figuring out if that's true is far more complicated. For one, sustainability is difficult to define — and there isn't a universal set of standards.

Last week, Chinese fast-fashion giant Shein acquired Everlane, a brand known for transparency and sustainability efforts, highlighting broader tensions over scale and affordability. Improvements in sustainable processes typically cost more, making it difficult for companies with fast production cycles and low prices to adopt them widely. Consumers are left to navigate a complicated web of tradeoffs involving farming practices, chemical processes, labor ethics and a wide range of prices.

Two more 7-Eleven locations bite the dust

Outside of one of two 7-Eleven locations to abruptly close in the last three days, a small gathering forms Monday morning.

The store at Notre Dame Avenue and Arlington Street shut its doors a day early, despite signs on the windows listing its last day as Tuesday. Its lights had been turned off and shelves were stripped bare.

Customers who were turned away begin to discuss the closure amongst themselves outside of the building; when a manager walks out and is asked why the store is being closed, he says “no comment” before walking back inside.

Shoppers told the Free Press the location was a frequent spot for petty robbery and several said they had tried to intervene in incidents where staff were not able to stop thieves.

B.C. Hotel Association blames bad messaging for World Cup vacancies, calls for reset

VANCOUVER - The British Columbia Hotel Association is blaming flawed "messaging" for vacancies heading into next month's FIFA World Cup, that has left tourists with the false impression no rooms are available.

Instead, the association says June hotel occupancy rates in downtown Vancouver are pacing about 15 per cent behind the same period last year.

It says the World Cup has "has not generated the broad hotel demand many expected," although booking activity suggests travellers are making plans closer to arrival.

The association says a move by FIFA to release previously booked blocks of rooms was partly behind the room inventory that "continues to return to the market."

Only unions consulted about jobs deal for provincial builds: industry

The Manitoba government is being accused of consulting only with a union collective before adopting a jobs policy that governs contracts involving the construction of public projects, including four new schools.

Construction industry associations representatives said Tuesday they learned through a freedom-of-information request that the government met only with Manitoba Building Trades, which proposed a labour framework in July 2025. The two parties discussed the jobs agreement in August, and it was signed 13 days later, the associations said.

They now want the provincial ombudsman to pause the Manitoba Jobs Agreement and conduct a review.

“I was extremely disappointed that there was little rigour in the negotiation,” said Darryl Harrison of the Winnipeg Construction Association.

Hydro advisory circle brings ‘wealth of Indigenous perspectives’

The board of Manitoba Hydro has appointed an Indigenous advisory circle as part of the Crown corporation’s reconciliation efforts.

Former Fox Lake Cree Nation chief and Keeyask Hydropower Limited Partnership board chair Robert Wavey will co-chair the group with Manitoba Hydro board chairman Jamie Wilson. The provincial government ordered the creation of the advisory circle in its 2023 mandate letter to Hydro’s board.

“I think we wanted to get everything right on this one,” Wilson said when asked why it has taken more than two years to appoint Indigenous advisers.

“This is a pretty fantastic group of people from a diverse background, including communities that are directly impacted by Hydro development in the past,” the first Indigenous chairman of the Manitoba Hydro board said in an interview Tuesday.

A new Swatch model is introduced, and a case study in overexcited ‘drop culture’ plays out

LONDON (AP) — In Paris, police deployed tear gas. In Milan, Italy, a fistfight erupted. In London, Singapore and New York, all-night queues snaked from the doors of Swatch stores — the latest examples of status-symbol “drop culture” to flash across the globe when status symbols and resale value collide.

The company at the center of it all, Swatch, no stranger to over-the-top retail outbreaks, said it was time to chill. The Swiss watchmaker said Monday that there's no shortage of its Royal Pop pocket watch, a collaboration with Audemars Piguet's luxury timepieces.

All for a "bioceramic" timekeeper that retails for around $400 — but perhaps more to the point, resells for thousands of dollars. By Monday, the candy-colored flex objects proliferated on eBay, with one boasting: “IN HAND!!! Swatch x AP Royal Pop,” for 3,055.58 British pounds ($4,092.31) “or Best Offer.”

It was the latest eruption in a generation-long trail of consumerist frenzy — both online and in the physical world — that has touched companies from Nike to Walmart to Apple as human beings race, sometimes frantically, to keep pace with buying trends and the potential for resale.

FIFA ticketing format arguably most blatant money-grab in history of organized sport

You know you’ve done something very, very foolish when an airline is trolling you.

People don’t generally like airlines. Or, they’re at least apathetic to them — relying on the check-in staff, flight attendants, pilots and actual planes to get them from one place to another, preferably safe and sound and with a modicum of dignity.

The soaring price of jet fuel, a consequence of the pumpkin patch baby’s Iranian adventure, and resulting rise in fares has only made the carriers even more unpopular.

They know it. They also know they’ve still got a healthier brand, somehow, than FIFA.

Churchill project not worth the risk

Premier Wab Kinew is banking on the redevelopment of the Port of Churchill as the game-changing project that will put Manitoba back in the black. That’s a risky bet for several reasons.

Economic growth now tops environment as priority in energy policy, poll suggests

OTTAWA - More Canadians now say economic growth should be a bigger priority in Canada's energy policy than protecting the environment, a new Angus Reid Institute report suggests.

The pollster released a report Monday indicating 61 per cent of Canadians now see economic growth as the biggest priority in energy policy. The question offered two options on the top priority shaping federal energy policy: economic growth or environmental protection.

That's a shift in public opinion since seven years ago, when the same question had 55 per cent of Canadians saying the environment should be the top priority in energy policy.

Shachi Kurl, Angus Reid Institute president, said climate change was a top issue for voters in both the 2019 and 2021 elections, but opinion research shows the sense of urgency surrounding it has been declining in recent years.

Developers selling some land slated for delayed ‘complete community’ near Polo Park

Plans for 84-acre development north of the major shopping mall included apartment towers, retail space and parks

Three Winnipeg restaurants among Canada’s best

Three Winnipeg restaurants have made it into the annual Canada’s 100 Best Restaurants list.

Mandel Hitzer’s Deer + Almond and Emily Butcher’s Nola, both which appeared last year, retained their spots but dropped down in placing.

Hitzer’s restaurant at 85 Princess St. held the rear of the top 50, down 16 places from last year’s 34 ranking.

Nola (300 Taché Ave.) came in at 88, after making its debut on last years’ list at 86.

Bell CEO ‘confident’ in lofty revenue targets as it doubles down on AI data centres

Bell Canada's parent company has upped its revenue target for its growing AI business by a third as it moves forward with plans to build a cluster of data centres, while assuring it will maintain "responsible usage" of the technology.

BCE Inc. chief executive Mirko Bibic said Thursday that with the recent announcement of a 300-megawatt data centre in rural Saskatchewan, the company now expects to generate around $2 billion in revenue from its portfolio of AI-powered enterprise solutions by 2028.

That's up from its previous objective of $1.5 billion in revenue over three years.

"We're confident in that target and frankly, I see potential beyond it," Bibic told analysts on a conference call as BCE reported its first-quarter results, which included a profit attributable to common shareholders of $616 million or 66 cents per diluted share.

Discount stores drive Loblaw’s Q1 profit and sales, raises quarterly dividend

An emphasis on discount stores continues to pay off for Loblaw Cos. Ltd. as shoppers search for affordable groceries amid intensifying economic headwinds.

"The ongoing outperformance of our hard-discount banners — Maxi and No Frills — was a key driver of (the) success, reinforcing their vital role in helping Canadians manage affordability," chief executive Per Bank told financial analysts on Wednesday after the retailer reported its first-quarter results.

The earnings report noted that the discount grocery banners outperformed for the owner of Loblaws and Shoppers Drug Mart, while its drugstore business saw growth in prescription drugs, particularly in sales of GLP-1 drugs such as Ozempic.

Loblaw also raised its quarterly dividend by 10 per cent to 15.5 cents per common share.

Think Shift appoints new chief executive on ‘AI plus AI’ approach

Rejecting return-to-office mandates, using artificial intelligence and working with more clients in the United States are top priorities for the new leader of a Winnipeg marketing agency that specializes in agriculture.