Online travel agent Lastminute.com will be taken to court unless it pays more than £1m of outstanding refunds, the competition regulator has said.

Lastminute.com had promised to refund people for package holidays cancelled due to the Covid-19 pandemic.

But it missed a repayment deadline at the end of January.

The Competition and Markets Authority (CMA) said the company needed to pay people back within seven days to avoid court action.

“It is wholly unacceptable that thousands of Lastminute.com customers are still waiting for full refunds for package holidays despite the commitments the company signed with us,” said CMA chief executive Andrea Coscelli.

“We take breaches of commitments extremely seriously. If Lastminute.com does not comply with the law and pay people their outstanding refunds quickly, we will take the company to court.”

Lastminute.com has been approached for comment. Last week, the online travel agent said the refund process had been “very … Read the rest

Monday

U.S.

U.S. markets are shuttered for Presidents Day

Canada

Canadian markets are closed for Family Day

Tuesday

U.S.

Featured Earnings

Agilent Technologies Inc. (NYSE:A) (Q1) EPS projected at 89 cents, compared to 81 cents in the prior-year quarter.

Occidental Petroleum Corporation (NYSE:OXY) (Q4) EPS projected for loss of 53 cents, compared to a loss of 30 cents in the prior-year quarter.

Advance Auto Parts Inc (NYSE:AAP) (Q4) EPS projected at $1.93, compared to $1.64 in the prior-year quarter.

TransUnion (NYSE: TRU) (Q4) EPS projected at 72 cents, compared to 66 cents in the prior-year quarter.

Canada

Economic Lookahead

CREA Stats (Jan.) National home sales rose 7.2% on a month-over-month basis in December.

Monthly Survey of Manufacturing (Dec.) Manufacturing sales decreased for the first time in three months, declining 0.6% to $53.7 billion in November.

Housing Starts (Jan.) The trend in housing starts was 239,052 units in December 2020, up … Read the rest

YouTube is making money from placing advertisements on anti-vaccination and conspiracy theory videos.

Despite the streaming giant pledging more than a year ago to stop adverts appearing next to videos pushing misinformation about vaccines, Business Matters found dozens of advertisements placed alongside conspiracy videos.

Adverts for the writing software Grammarly and the Big Yellow Box storage company appeared alongside videos claiming that doctors and nurses were guilty of genocide and that vaccines could kill. Big Yellow, the storage company, said that it was suspending advertising on YouTube as a result.

The meal service HelloFresh was promoted beside videos claiming that no vaccine had ever worked. There is overwhelming scientific evidence that vaccines are safe and effective.

Tim Loughton, the Conservative MP for Worthing and Shoreham and a member of the home affairs select committee, said that people were seeing the “misinformed ramblings of conspiracy theorists” ahead of reputable health advice.… Read the rest

Canada’s main stock index remained buoyant on Friday, helped by strength in financial stocks.

The S&P/TSX Composite remained in the green 27.91 points Friday noon to 18,420.90.

The Canadian dollar regained 0.07 cents to 78.81 cents U.S.

In the financials sector CI Financial gained $1.19, or 6.5%, to $19.39, while iA Financial jumped $1.01, or 1.6%, to $63.58.

Agnico Eagle Mines fell $6.00, or 6.6%, the most on the TSX,to $84.32, after the gold producer reported dismal fourth-quarter results. Renewable power producer Innergex Renewable Energy was the second biggest decliner, down $1.19, or 4.2%, to $27.17.

On the economic front, Statistics Canada reported wholesale trade fell 1.3% in December to $66.5 billion, the first decline after seven consecutive increases.

The agency attributes the decrease to sharply lower sales of motor vehicles and motor vehicle parts and accessories; and machinery, equipment and supplies.

Markets on both sides of the border are … Read the rest

In an ever-changing landscape, marketers and digital businesses alike are forced to adapt with the times as new opportunities arise and existing strategies become redundant.

Since starting my career 8 years ago at TheLADbible, the updates to iOS14 and the subsequent changes to ad platform attribution has been one of the most significant. As an example, in response to Apple releasing iOS 14, Facebook has changed its attribution window from 28days to 7days meaning that some advertisers have seen 50% drop in recorded sales, overnight.

The changes in attribution, not just for Facebook, but across numerous mainstream platforms will have a huge impact on advertising activity as it means there will be no way of tracking off-platform activity via third-party browser cookies. There will be no way of reaching consumers on a 1-1 basis across sites and apps if they don’t choose to opt in. This will make it very … Read the rest

Canada’s main stock index fell on Thursday, dragged down by stocks of cannabis companies, a day after hitting a record high on the back of a sharp rally in the sector that was fueled by Reddit-inspired retail investors.

The S&P/TSX Composite lost 36.66 points by midday Thursday to 18,421.12.

The Canadian dollar inched up 0.08 cents to 78.81 cents U.S.

Bombardier said it would end production of its Learjet business aircraft in 2021 and slash about 1,600 jobs to cut costs, after reporting an adjusted loss before interest and taxes for the fourth quarter, as the COVID-19 pandemic hit demand.

Bombardier shares dropped a dime, or 13.7%, to 63 cents.

Restaurant Brands International on Thursday posted quarterly profit below Wall Street estimates, dented by tepid demand for its Tim Hortons coffee as customers avoided stepping out amid fresh restrictions imposed to tackle COVID-19 cases.

Restaurant Brands shares docked $3.21, or … Read the rest

This is the web version of Term Sheet, a daily newsletter on the biggest deals and dealmakers. Sign up to get it delivered free to your inbox. 

IPO investors seem to think they’ve found a true match with dating app company Bumble.

The company behind Badoo and the Bumble app raised $2.2 billion in an offering of 50 million shares priced at $43, more shares sold at a higher price than previously anticipated.

Last valued at about $3 billion when Blackstone acquired the business in 2019, it is now valued at about $8.2 billion.

As we all wait for the inevitable fury around the IPO pop or radio silence should shares fall in its first day of trading, here’s the skinny on Bumble’s financial picture:

  • The dating app that lets women make the first move posted revenue of about $416.6 million for the first nine months of 2020, surpassing
Read the rest