Here are five things you need to know this morning.
Watch BNN Bloomberg live.Canadian retailer Groupe Dynamite went public in an IPO last month, but the idea for it was formed back in 2018 when the company’s CEO realized he didn’t have an appropriate succession plan in place. That’s according to the man himself, Andrew Lutfy,
who told Bloomberg in an interview yesterday that he realized more than half a decade ago that he had no obvious internal candidate to replace him , nor did he have any children to pass the business on to, so he set about restructuring the retailer to thrive for the long term. He started at the company back in 1982 as a stockroom clerk at the first Garage store in Canada. If you can believe it, his then-girlfriend’s family owned the business at the time and gave him a 25 per cent sweat-equity stake in it. In 2003, he bought them out.
. He told a Halifax business audience yesterday that the country has a few weapons at its disposal in the current trade cold war, none of which he particularly wants to use. “Let’s not kid ourselves in any way shape or form: 25 per cent tariffs on everything… would be devastating for the Canadian economy,” Trudeau said. The last time Trump put tariffs on Canadian steel and aluminum, Canada responded with targeted tariffs on things like Harley Davidsons and Kentucky Bourbon, to send a message.
, a critical time of a year for package shipments for small businesses. CUPW says it has reduced its wage demand for an increase of 19 per cent over four years.
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