‘We’re in a transition year:’ GM Canada, as Oshawa plant ramps truck production
BNN Bloomberg
GM Canada’s recent layoffs and multimillion dollar funding announcement are all part of a broader strategy to expand operations in its Oshawa plant, the company’s CEO says.
The automaker announced Wednesday it will spend $63 million to upgrade its Oshawa assembly facility, the only GM assembly plant in Canada, to prepare for production of its next-generation pickup trucks.
The funding comes after 500 workers were laid off following the removal of the plant’s third shift. The new investment will not bring back those jobs and is not related to the layoffs, Jack Uppal, president and managing director of GM Canada, told BNN Bloomberg.
“The current investment will be managed by the two shift announcement that we’ve already had in place,” says Uppal.
Uppal said the move is part of a broader production cycle shift.
“We are in a transition year,” he says.
Canada home prices fell to a nearly five-year low in January as sales dropped and new listings rose, according to CREA data.
Mark Zuckerberg and opposing lawyers dueled in a Los Angeles courtroom on Wednesday, where the Meta CEO answered questions about young people’s use of Instagram, his congressional testimony and internal advice he’s received about being “authentic” and not “robotic.”
The grandson of the inventor of Reese’s Peanut Butter Cups has lashed out at The Hershey Co., accusing the candy company of hurting the Reese’s brand by shifting to cheaper ingredients in many products.
Global food and beverage companies from PepsiCo to Coca-Cola are focusing on shorter ingredient lists and smaller pack sizes in 2026 as more people take appetite-suppressing GLP-1 drugs for weight loss.
Top picks from Michael Hakes, Senior Portfolio Manager, Murray Wealth Group
Parents can use a Registered Education Savings Plan to pay for their children’s post-secondary education while growing their savings tax deferred as tuition costs continue to rise, a financial advisor says.
YouTube Canada outlines ad-driven growth, subscription expansion and fraud controls as streaming leadership challenges Netflix and traditional TV.
An arbitrator reviewing wages for flight attendants at Air Canada has finalized rates at the airline, bringing an end to the labour dispute that saw travel disrupted for thousands of people last summer.
Here are five things you need to know this morning.
Shares in Europe and Asia were higher on Wednesday, with Japan’s benchmark gaining more than one per cent after a quiet finish for U.S. stocks.
A deeper look at the cost of living shows Atlantic Canadians facing higher inflation and steeper grocery bills than much of the country.
Canada has failed both to adequately fund its military and to build up the domestic defence industry, Prime Minister Mark Carney said Tuesday as he rolled out an ambitious new plan to grow the defence sector.
Five years after Warren Buffett sold off all of Berkshire Hathaway’s newspapers and predicted unending declines for most of the industry, Berkshire disclosed a new US$350 million investment in the New York Times on Tuesday.