Bike shops busier than ever, but owners worry about stock supply issues

Hundred of bikes once hung from the vertical racks at Sweet Pete's. More bikes stood side-by-side on the floor.

Now, there are a lot of empty hooks and plenty of floor space.

It might seem as if business is booming at the store amid COVID-19.

See Full Article



Advertisements

Latest Economic News

  • Crude oil shipments by rail bounced back from summer lows, energy regulator says

    Economic CBC News
    Canadian exports of crude oil by rail are bouncing back after falling to an eight-year low in July. The Canada Energy Regulator says rail shipments of oil in September amounted to 94,440 barrels per day, nearly double the 51,000 bpd shipped in August. Source
  • U.S. oil giant Exxon Mobil cutting up to 300 jobs in Canada

    Economic CBC News
    U.S. oil major Exxon Mobil Corp said on Wednesday it plans to reduce up to 300 positions in Canada as part of an ongoing cost-cutting plan due to a coronavirus-driven slump in oil prices. Reductions will include positions at Imperial Oil Ltd, ExxonMobil Canada Ltd and ExxonMobil Business Centre Canada ULC, the company said. Source
  • Imperial Oil to lay off 200 workers following cost-cutting analysis

    Economic CBC News
    Calgary-based Imperial Oil Ltd. says it will lay off about 200 of its 6,000 employees as part of a cost-cutting initiative. The company, which has been reluctant to reduce staff during the current and previous industry downturns, also confirms it has reduced the number of contractors it employs by about 450 since the start of the year. Source
  • Penguin to buy Simon & Schuster, create publishing giant

    Economic CTV News
    BERLIN -- German media giant Bertelsmann said Wednesday that its Penguin Random House division is buying rival Simon & Schuster in a megadeal that would reshape the U.S. publishing industry. Penguin Random House, already the largest American publisher, will buy the New York-based Simon & Schuster, whose authors include Stephen King, Hillary Clinton and John Irving, from TV and film company ViacomCBS for $2.17 billion in cash. Source
  • Left for dead, twice, RadioShack gets another shot online

    Economic CTV News
    SILVER SPRING, MD. -- RadioShack, a fixture at the mall for decades, has been pulled from brink of death, again. It's the most prized name in the basket of brands that entrepreneur investors Alex Mehr and Tai Lopez have scooped up since the coronavirus pandemic bowled over the U.S. Source
  • Bertelsmann to pay $2.2B for Simon & Schuster in U.S. publishing play

    Economic CBC News
    German media group Bertelsmann said on Wednesday it would purchase U.S. publisher Simon & Schuster for $2.175 billion US in cash from ViacomCBS, strengthening its presence in the United States, its second-largest market. Bertelsmann outbid Rupert Murdoch's News Corp in a contest for the publisher of Dan Brown, Hillary Clinton and Stephen King that Viacom put up for sale this year to refocus on its online and advertising operations. Source
  • U.K. cuts overseas aid amid worst recession in over 300 years

    Economic CTV News
    LONDON -- The British government faced fury Wednesday over its decision to ditch its long-standing target for overseas aid to finance other spending priorities in the wake of what it described as the deepest recession in over three centuries. Source
  • Cascades to close its napkin plant in Laval, Que. in June 2021

    Economic CTV News
    KINGSEY FALLS, QUE. -- Cascades Inc. says it will close its napkin plant in Laval, Que., at the end of June next year. The plant currently employs 54 workers. Cascades says it will offer to relocate as many employees as possible to its other operations in Quebec and employees who are not able, or do not wish to relocate, will be offered help in their search for other employment. Source
  • Pension fund managers call for strengthened ESG disclosure by companies

    Economic CTV News
    TORONTO -- A group of Canadian pension plan investment managers is calling on companies to standardize their environmental, social, and governance disclosure to help them in their investment decision-making and better assess and manage their risks. Source
  • Malaysia's Top Glove says virus outbreak may push prices up

    Economic CTV News
    KUALA LUMPUR, MALAYSIA -- Malaysia's Top Glove, the world's largest maker of rubber gloves, said Wednesday that supply disruptions at its factories due to an outbreak of the coronavirus may push glove prices up. The company said it shuttered 20 of its factories in an area outside Kuala Lumpur in stages since Nov. Source