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Global Markets: Verizon appoints new CEO

By Dave Sims, Commodity News Service Canada

WINNIPEG, June 8 (CNS) – Apple will scale back the number
of smartphones it makes each year. The move is being made in
response to weakening demand for the company’s iPhone. Apple
says it plans to ship 20 per cent fewer iPhones this year than
last year.
Telecommunications giant Verizon has named Hans Vestberg as
its new CEO. He succeeds Lowell McAdam who had been heading up
the company since 2011. A shakeup was expected after Verizon
began losing wireless subscribers to its rivals. Up to this
point, Vestburg had been working on the company’s launch of 5G
technology.
Prices could be going up at Dollarama. The discount
retailer announced Thursday it may have to hike prices on
certain items due to proposed Canadian tariffs on certain
imports from the United States. CEO Neil Rossy said the company
has no plans to increase prices past its maximum value of C$4.

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