Federal government

Montreal Transit Workers⁤ Suspend Strike Amidst New Government Legislation

Montreal, QC – Maintenance workers for Montreal’s public transit system ​have suspended their strike just days before⁢ new legislation⁤ granting the Quebec government increased power to intervene in labor‍ disputes was formally tabled. The union representing the ‌2,400 workers announced the suspension on Wednesday,despite vowing to continue their fight for improved wages ‍and working⁢ conditions.

The‍ move preempts Labour Minister Jean Boulet’s ⁢introduction of legislation that would expedite the application of a law allowing the provincial government to impose binding arbitration in strikes or lockouts deemed detrimental to the public. originally slated to take effect November 30th, the law was adopted in the spring and expands ⁢the definition of essential⁢ services to include those ensuring “the ​well-being of the population.”

“We’ve lost an important lever” with the legislation, union president Bruno Jeannotte stated Wednesday. However, he emphasized the workers’ resolve, adding, “it’s ⁢not because we’ve​ withdrawn this ‌strike that we’re ‌giving up – on the contrary.”

The strike had significantly limited bus and subway service in ‌Montreal, restricting operations to peak hours and late evenings. It was ⁤initially scheduled to‍ conclude on November⁤ 28th,but ⁤Jeannotte explained the ​expedited application of‍ the​ new law would have hindered future strike action and intricate negotiations.

Despite the suspension of this strike,‍ Minister Boulet defended the need to‍ fast-track the legislation, citing a planned two-day strike by the union ‍representing 4,500 bus ⁣drivers and subway operators this weekend, following a previous one-day strike ‍on ⁢November 1st that completely halted service.

However, Boulet expressed‌ optimism, stating that information he’s received “points to a strong reasonableness that there will be an agreement in principle” reached through negotiation.

The bill’s swift ‌passage through the Quebec legislature will require support from opposition parties. While the Liberals and‌ parti Québécois have indicated a willingness to collaborate, Québec solidaire ‌remains opposed to the legislation.

Montreal’s Stingray Group to Acquire Audio Streamer TuneIn for Up to $175-Million

Montreal, QC – Montreal-based‌ Stingray Group⁢ Inc. announced today ⁣it has entered into a definitive agreement to acquire ‌TuneIn, a leading‍ global audio streaming service, for a total consideration of ⁤up to US$175-million. teh ​deal, expected to close later this year, substantially expands Stingray’s ⁤reach in the rapidly evolving audio entertainment landscape and strengthens its position as​ a key in-car entertainment provider.

Stingray, known‍ for its ⁢curated⁢ music channels and in-store audio solutions for businesses like Loblaws and Dollarama, currently supplies cabin karaoke systems to major automakers including Tesla Inc., Ford Motor Co., Audi AG, and China’s BYD ​Co. Ltd. The acquisition of TuneIn, which boasts supply contracts with approximately ‌10 other auto manufacturers, will combine⁣ the companies’ automotive offerings, providing a more thorough audio experience for drivers.

“Us‍ together in the cars, you’re going to have⁣ Stingray music, you’re going‍ to have TuneIn radio and you’re going to‌ have our karaoke,”‌ said Stingray CEO Eric Boyko. “You put all‍ three together and you really control the audio.”

The purchase price includes ​an initial payment‌ of US$106.5-million, with potential earn-out payments of up to US$68.5-million based on TuneIn’s future performance. A new investment in TuneIn was made by Venture ⁣Capital firm Innovation Endeavors in⁢ November 2020 to accelerate technology innovation ⁢and market share growth. The company also experienced a surge in U.S. downloads ‌in 2021 ⁢after actor Tom Hanks identified TuneIn as his preferred audio app ​on The‍ Late‌ Show with Stephen Colbert.

Approximately 100 TuneIn employees are expected to relocate to Montreal following the deal’s completion, coinciding with Quebec’s recent announcement of a reduction in its annual immigration target to 45,000 new permanent residents.