Canada is getting a sovereign wealth fund. What does that mean and how do they work?

Prime Minister Mark Carney announced the creation of the country's first-ever sovereign wealth fund on Monday, called the Canada Strong Fund.

Carney pitched the new fund as a way for Canadians to invest in nation-building projects in areas that include energy, infrastructure, mining, agriculture and technology.

Here's what you need to know about sovereign wealth funds and how they operate.

What is a sovereign wealth fund?

Jury finds that Ticketmaster and Live Nation had an anticompetitive monopoly over big concert venues

NEW YORK (AP) — A jury found Wednesday that entertainment giant Live Nation, which hosts tens of thousands of concerts a year, and its Ticketmaster subsidiary had a harmful monopoly over big venues.

The ruling, in a lawsuit brought by dozens of states, won’t immediately bring relief for concertgoers who have long complained about high ticket prices. But it could cost Live Nation hundreds of millions of dollars and perhaps force the company to sell some of its concert venues when the judge hands out penalties later.

Among other things, the jury found Ticketmaster's anticompetitive practices led to people in 22 states paying an extra $1.72 per ticket, which the judge could order the companies to pay back.

A jury in New York deliberated for four days before reaching its decision. State attorneys general who sued Live Nation said the verdict could potentially lead to lower ticket prices for music fans.

NDP pushing for ban on AI surveillance pricing as Lewis makes Parliament Hill debut

OTTAWA - The NDP is expected to introduce a motion on Wednesday calling on the government to ban a practice known as surveillance pricing that New Democrats say is unfair to consumers.

The text of the motion describes the practice as companies using a customer's personal data, like search history or how long they stay on a web page, to increase prices both in store and online.

NDP Leader Avi Lewis said Monday examples of this can include a parent with a sick baby being charged a higher price for a thermometer or medicine based on internet search history.

"This means that two different people could pay two different prices for the exact same product in the same store or on the same website on the day. It's unfair, it's a ripoff, and it's downright creepy. And it's time to put a stop to it," Lewis said.

Latest smartphone app launch for young do-it-yourself investors points to industry trending toward no commissions on trades

A battle for young investors is being waged among Canada’s big banks and upstart fintechs, with RBC firing among the more recent salvos.

It recently launched a smartphone app called GoSmart, offering self-directed investors — or do-it-yourselfers (DIY) —access to online trading with the ability to choose from 53 exchanged-traded funds (ETFs) that can be bought and sold without commissions.

As well, GoSmart investors can trade up to 50 times per year commission-free on any U.S. or Canadian stock. This is notable, given users of RBC’s existing discount brokerage platform Direct Investing, who have been able to trade these select ETFs for free since last year, do not receive those additional 50 free trades.

“It’s a pretty substantial change,” says Dimitri Busevs, president and chief executive officer of RBC Direct Investing.

Canadians increasingly choosing to stream with ads as prices rise: report

Canadians subscribed to streaming platforms again faced rising costs last year, as a new report estimates the 10 leading providers hiked prices by an average of seven per cent.

The annual Couch Potato Report, released Monday by Convergence Research, said consumers are continuing to pivot from traditional cable and satellite television packages toward alternatives like Netflix, Crave and Disney Plus, despite those streaming giants having upped their prices in recent years.

In 2024, the top streaming providers had raised their prices by an average of eight per cent for Canadian customers, according to new data from the firm.

The trend comes as streamers continue to push viewers toward plans that include advertisements. Those packages cost less for subscribers but drive additional revenue for the companies because they are able to sell commercial spots.

Most Canadians want to ban or regulate algorithmic pricing, poll shows

OTTAWA - Most Canadians want the government to ban or regulate the use of algorithms to set prices, a new poll suggests — with half of respondents saying the practice is unfair because it can result in people paying different prices for the same product.

The Abacus Data poll, which was conducted online and can't be assigned a margin of error, surveyed 1,931 Canadians on algorithmic pricing.

The poll defined algorithmic pricing as the adjustment of prices in real time based on such factors as who is buying, the time of day and browsing behaviour.

Algorithmic pricing is already established in sectors like travel but has been expanding into other markets, such as retail and rental housing. It could, for example, lead to a retailer charging different prices for diapers online, depending on what it can glean about a shopper's habits.

Abercrombie & Fitch to open first Manitoba store in Polo Park

If Peter Havens has learned anything from two decades of managing shopping centres, it’s that malls reinvent themselves.

“That’s really the name of the game in retail, is to keep it fresh,” said Havens, general manager of CF Polo Park.

Winnipeg’s largest mall is keeping it fresh this year with the addition of the province’s first Abercrombie & Fitch store. The 133-year-old lifestyle retailer will open a store in April or May in the main-floor space once occupied by Hollister.

“They’re excited to be in Winnipeg,” Havens said.

Spin Master sees loss, lower revenue in holiday quarter

TORONTO - Spin Master Corp.'s busiest time of year left the business with some holiday blues — a US$184.3 million loss.

The Toronto-based toy maker behind the Paw Patrol, Hatchimals and Melissa & Doug brands announced the fourth-quarter result Thursday, saying it compared with a profit of US$21.1 million or 20 cents US per diluted share a year earlier.

The company, which keeps its books in U.S. dollars, blamed the loss on a US$229.1-million non-cash impairment of goodwill and intangible assets and said it came as Spin Master capped "a challenging year for our U.S. toy sales."

"We navigated a difficult tariff macro environment and while we achieved many of our goals, our results did not meet our expectations we set at the beginning of the year," conceded CEO Cristina Miller on a call with analysts.

Manitoba small businesses losing faith in U.S. as a trade partner, poll shows

When Kathy Tran-Riese’s eyeglass company was faced with a tough decision in the face of a trade war last May — eat the huge tariff cost, or pause shipments to the U.S. — she chose the latter, losing nearly half of her customer base in the process.

Nearly a year later, she’s found a way to make it work. KayTran Eyewear opened a distribution centre in Ohio in September to receive the frames, which are made for people with low nose bridges and exported from China, directly into the U.S. But now, she’s navigating a new hurdle: trying to repair her business’s relationship with its American customers.

“From my perspective, I almost foolishly thought that as soon as it opened up, it would be opening up the floodgates in a way, customers that had been waiting to come back and waiting to return with us,” she said Wednesday.

“But once you lose that customer base for several months, a lot of them have gone elsewhere, a lot of them have lost touch with you.”

Google settles with Epic Games with offer to lower its app store commissions

SAN FRANCISCO (AP) — Google will lower the lucrative fees imposed on its Android app store and offer a way for rival options to gain its stamp of approval, ending a bruising legal battle that led to one of several rulings condemning its tactics as an illegal monopoly.

The proposed changes filed Wednesday with a federal court in San Francisco mark the latest twist in a case that began in August 2020 when video game maker Epic Games filed an antitrust case seeking to make it easier for alternative payment options to compete against Google's Play Store system, which charges 15% to 30% commissions on a wide variety of in-app transactions.

Google's concessions come five months after the U.S. Supreme Court refused to hear an appeal of the company's attempt to overturn a federal judge's order requiring a far more extensive overhaul of the Play Store following a 2023 trial that culminated in a jury declaring the setup an illegal monopoly.

Backed into a legal corner, Google is now prepared to decrease its baseline commissions for subscriptions and e-commerce transactions into the 10% to 20% range. It's also offering an optional 5% payment processing charge that would be applied in addition to the other service fees for apps that prefer to keep everything within the Play Store.

Small businesses weigh cost of carrying credit card fees, possibility of cash-only crime

Cash, credit or debit — or maybe just one and not the others? Even as technology advances, rising costs and the impacts of crime mean some Manitoba businesses are still seeking new ways to settle the bill with customers.

In Morden, Alex Kanski found himself in the middle of an unexpected controversy when he announced his family restaurant, Moment in Thyme Neighbourhood Grill, would be removing its card payment system and only accepting cash at the end of January.

Kanski said interchange fees — or the cost to process credit card transactions — and other fees to maintain card payments has cost the restaurant about $7,500 annually since it opened three years ago. For a 38-seat restaurant, he said, those losses are hard to take.

“With a restaurant, there’s only so many places you can cut costs,” Kanski said.

Canada Goose says diversification efforts working but Q3 profit fell from year ago

TORONTO - Canada Goose Holdings Inc. says its efforts to convince customers to turn to the company for more than a down-filled parka as winter hits are paying off — but investors may not be convinced.

While customer demand for the retailer's star product — down-filled outwear — remained strong in its most recent quarter, Canada Goose said Thursday that its non-down-filled outwear grew even faster and was accompanied by gains in lightweight and year-round apparel.

"That shift is intentional," said Carrie Baker, Canada Goose's president of brand and commercial, on a call with analysts.

"We want to be able to bring newness to the floor. We want to be able to drive repeat visitors, bring people back to see something new."

Canadians seeking ways to save on groceries as food costs remain top concern: survey

A survey of Canadians' perceptions around food affordability and purchasing behaviours suggests that consumers have changed how they shop, cook and eat in response to rising prices.

The latest edition of the Canadian Food Sentiment Index, released by Dalhousie University's Agri-Food Analytics Lab in partnership with online data platform Caddle, said food remains the dominant household financial concern for Canadians.

More than four-in-five survey respondents indicated it's their top expense pressure. While that was down from 84.1 per cent of respondents a year ago, it still far outpaces other day-to-day expense concerns, such as utilities, household items and supplies, housing, transportation and entertainment.

Half of the nearly 3,000 respondents to the survey conducted last month said food costs increased "significantly" over the past year, while just over one-third indicated their food expenses were up "slightly" and close to 12 per cent said they stayed the same.

New trade deal to chop red tape, knock down trade barriers across Canada

VICTORIA - Trade of tens of thousands of goods across Canada's 14 jurisdictions will soon be free after an agreement has been signed between all provinces, territories and the federal government to allow businesses to sell their products across Canada.

Ravi Kahlon, British Columbia's minister of jobs and economic growth, announced the deal in Victoria, although it was signed by the country's trade ministers at a meeting in Yellowknife on Wednesday.

The B.C. government proposed and chaired the national initiative for the Canadian Mutual Recognition Agreement, and Kahlon said it's an important step for cross-Canada trade.

"And this is the largest red tape reduction in Canada's history, and it's just the beginning," he told reporters.

Roasters and cafés grapple with rising coffee bean prices

Your daily cup of java is getting a little more expensive as roasters and cafés grapple with rising coffee bean prices.

Climate change has been the biggest contributor to the ongoing surge in bean prices, as coffee crops are very sensitive to temperature changes, said Michael von Massow, food economist at the University of Guelph.

"We've seen some increases in disease and some decreases in yield that have lowered supply, and basic economics 101 — when supply goes down, prices go up," he said in an interview on Monday.

Coffee prices have remained high amid concerns of dry weather in Brazil, a major coffee-producing country.

St. Boniface residents drained after demolition of Happyland pool

As demolition continues at one outdoor pool in St. Boniface, a city councillor hopes to take a second look at extending the life of another one.

Hudson’s Bay seeks approval to auction off 1670 charter, court filings show

TORONTO - Hudson's Bay wants to revert to its original plan to auction off its founding charter after more parties signalled interest in buying — then donating — the 1670 document, new court documents say.

The Ontario Superior Court had been due to hear a motion earlier this month approving the sale of the artifact to the Weston family of grocer Loblaw Cos. Ltd. fame. Their holding company Wittington Investments Ltd. offered $12.5 million for the charter and planned to donate it to the Canadian Museum of History.

The hearing was adjourned after DKRT Family Corp, a holding company owned by David Thomson, objected to the Weston sale. The firm acting on behalf of the billionaire chairman of Thomson Reuters was willing to spend at least $15 million on the document he wants to donate to the Archives of Manitoba.

Hudson's Bay declined to comment Friday on news that it would return to the auction plan. The new court documents did not say who else was interested in the document but noted that the retailer will seek permission on Sept. 29 to auction off the charter on Oct. 15.

North Dakota missing its Manitobans

Kay Rone used to spot plenty of Manitoba licence plates outside stores, hotels and restaurants throughout Grand Forks on weekends in past years.

There haven’t been nearly as many since the COVID-19 pandemic hit in early 2020.

“Now, you hardly see them in town,” said Rone, who owns Northern Roots Boutique, a women’s clothing store opposite Columbia Mall, which was once a big draw for cross-border shoppers.

She displays a window sign welcoming Canadians.

Clarity, ‘competitiveness’ key to name change

In some ways, the entity that helped draw the 2023 World Police and Fire Games, a studio for video game publisher Ubisoft and the 2025 Grey Cup to Winnipeg isn’t changing.

Athletes Unlimited softball commissioner Ng excited as sport surges, league prepares for expansion

Kim Ng is excited about how far Athletes Unlimited softball has come in the past year and believes the sport is surging as her league prepares to expand in 2026.

The Athletes Unlimited Softball League’s commissioner is brimming with confidence after the league posted what she called promising numbers in its first year. This was the first time Athletes Unlimited added a traditional team format after five years of crowning only individual champions.

There were 20 sold-out games in a touring format that visited 10 cities. The AUSL website had 5.3 million views during the season, and the championship series had peak viewership of 347,000 on ESPN. There were 240 million impressions on the AUSL’s social channels.

“I think it went really well,” Ng said. “And we were all just incredibly excited, incredibly thrilled about what we were just able to do, and really, for the future of AUSL.”