Business News

Canada’s next prime minister has managed the financial crisis, Brexit and now Trump’s trade war

TORONTO (AP) — Canada’s next prime minister has helped run two Group of Seven economies in crisis. Former central banker Mark Carney will become prime minister after the governing Liberal Party elected him its leader Sunday in a landside vote with 85.9% support. Carney replaces Prime Minister Justin Trudeau, who announced his resignation in January but remains prime minister until his successor is sworn in in the coming days.

Washington Post columnist quits after her opinion piece criticizing owner Jeff Bezos is rejected

A columnist who has worked at the Washington Post since 1984 quit on Monday, after she said the publisher Will Lewis killed her column criticizing owner Jeff Bezos’ edict that the newspaper’s editorial section concentrate on issues of personal liberties and the free market. Ruth Marcus wrote in a resignation letter that “it breaks my heart to conclude that I must leave.” Her exit was first reported by The New York Times. The Post said that it respected Marcus’ decision and wishes her the best. The newspaper has been reeling, both financially and through an exodus of many of its journalists, over the past year.

Mortgage lender Rocket Cos. to acquire real estate brokerage Redfin in deal valued at $1.75 billion

Mortgage lender Rocket Cos. has agreed to acquire online real estate brokerage Redfin in an all-stock deal valued at $1.75 billion. The transaction, announced Monday, gives one of the nation’s largest mortgage lenders an in-house network of more than 2,000 real estate agents across 42 states and Redfin’s popular home and rental housing listings platform. Redfin CEO Glenn Kelman is expected to remain at the helm of the real estate brokerage once the deal closes. The companies’ board of directors have already approved the transaction.

Senate set to vote on approving Lori Chavez-DeRemer as Trump’s labor secretary

The Senate is preparing to vote on whether to confirm Lori Chavez-DeRemer as U.S. labor secretary. The Cabinet position would put her in charge of enforcing federally mandated worker rights and protections at a time when the White House is trying to eliminate thousands of government employees. Chavez-DeRemer would oversee the Department of Labor. Some of the Labor Department’s responsibilities include reporting the U.S. unemployment rate, regulating workplace health and safety standards, investigating minimum wage and overtime pay disputes, and applying laws on union organizing and unlawful terminations.