Skip to main content
business briefing

These are stories Report on Business is following Thursday, March 26, 2015.

Follow Michael Babad and The Globe's Business Briefing on Twitter.

Antitrust warning
For those who didn't know, today is Anti-Cartel Day and Canada's antitrust watchdog is warning of the consequences of such behaviour.

The Competition Bureau says it hosts this day so Canadians "recognize, report and stop cartel activity, which it describes as fixing prices, capping output, allocating markets or rigging bids.

"Anti-Cartel Day is an opportunity for us to educate businesses about how to detect and prevent different kinds of cartel activities, and why it's so important for them to comply with the Competition Act," commissioner John Pecman says in a video posted on YouTube.

"It's important for businesses to know that the consequences of engaging in cartel activities can be devastating," he adds.

"These are very serious criminal offences, and offenders may face large fines, lawsuits, damage to their reputation, and even jail time."

Lululemon slips
Lululemon Athletica Inc. beat estimates with its fourth-quarter results today.

The yoga wear retailer topped the estimates of analysts with a quarterly profit of $110.9-million (U.S.), or 78 cents a share, compared to $109.7-million or 75 cents a year earlier.

Revenue climbed to $602.5-million from $521-million.

Same-store sales, a key measure in retailing, rose 8 per cent.

Its forecasts appeared to disappoint somewhat.

Lululemon said it expects earnings per share of 31 cents to 33 cents for the first quarter, and revenue of $413-million to $418-million.

For the year, it projects earnings of $1.85 to $1.90 and revenue of just about $2-billion.

CRTC proposes code
Canada's broadcast regulator is proposing a new code requiring television providers to give customers clearer information, and giving viewers a way to resolve disputes, The Globe and Mail's James Bradshaw and Christine Dobby report.

The draft code, announced today by the Canadian Radio-television and Telecommunications Commission, is a response to complaints from Canadians who said their cable and satellite companies often gave incomplete or misleading information and offered poor customer service.

The code would set standards for easy-to-understand agreements and changes to service between TV providers and customers. And it would "clarify" terms around adding or cancelling channels, early cancellation fees and installation appointments.

Poloz defends central bank
Stephen Poloz says stable inflation expectations are proof that the Bank of Canada's credibility emerged intact from its surprise January rate cut.

Mounting a vigorous defense of the central bank's recent actions, Governor Poloz said financial turmoil is the inevitable consequence of a gradual return to normal monetary conditions after years of extraordinary efforts to keep interest rates ultra-low, The Globe and Mail's Barrie McKenna reports.

"This represents the natural reaction of financial markets to economic uncertainty and a return to a normal trading environment – not an erosion of central bank credibility," Mr. Poloz told a business audience in London today.

Blaming the collapse in the price of oil, the Bank of Canada cut its key overnight interest rate by a quarter-percentage-point to 0.75 per in January.

Streetwise (for subscribers)

ROB Insight (for subscribers)

Business ticker

Report an editorial error

Report a technical issue

Editorial code of conduct

Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 28/03/24 4:00pm EDT.

SymbolName% changeLast
LULU-Q
Lululemon Athletica
+0.31%390.65
TM-N
Toyota Motor Corp Ltd Ord ADR
-0.19%251.68

Follow related authors and topics

Authors and topics you follow will be added to your personal news feed in Following.

Interact with The Globe