13:22:10 EDT Thu 25 Apr 2024
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CA



WestJet Airlines Ltd
Symbol WJA
Shares Issued 114,072,191
Close 2018-06-13 C$ 18.85
Market Cap C$ 2,150,260,800
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FP says RBC rallies its friends to hold back big tech

2018-06-14 09:23 ET - In the News

See In the News (C-RY) Royal Bank of Canada

The Financial Post reports in its Thursday edition that the head of Royal Bank of Canada sounded a rallying cry for corporate Canada on Wednesday, urging firms north of the border to "band together" to fend off the threat to their businesses posed by global technology giants. The Post's Geoff Zochodne quotes Dave McKay, chief executive officer of RBC, during an investor day in Toronto. "As we look outside our borders, the platforms are almost all foreign owned, and they are collecting more information and more insight on Canadians than Canadian firms are. So it's an imperative that we kind of band together as Canadian firms with insight into Canadians to take control of our future." The bank's goals for its Canadian business will also lean on partnerships with other companies, a point underscored during an onstage discussion between Mr. McKay and executives from Suncor, Indigo Books and WestJet. Ed Sims, chief executive officer of WestJet, noted that despite their different industries, the three were all facing competition on some level from the likes of Amazon and Google. "I don't worry about what's happening in Montreal [where WestJet's chief rival, Air Canada, is based], I worry about Google," he said.

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