Company News

PRESS DIGEST- Canada-June 11

June 11 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


** Starbucks Corp will close as many as 200 coffee shops in Canada over the next two years, as the COVID-19 pandemic has accelerated plans to cope with changes in customer behaviour. The company said on Wednesday that it is working more aggressively to 'transform our store portfolio,' including placing more emphasis on mobile ordering, drive-through and takeout services.

** Department store chain HBC LP is expected to raise up to $900 million from a bond sale, money that Canada's oldest company will use to weather the store closings that came with the novel coronavirus pandemic.

** The federal and Ontario governments will spend nearly C$58 million ($43.09 million) to help small businesses move online as they grapple with diminished revenues during the pandemic and prepare to reopen. ($1 = 1.3459 Canadian dollars) (Compiled by Bengaluru newsroom)