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Updated: 32 min 26 sec ago

95,000 GM vehicles unfinished in storage due to chip shortage

11 hours 26 min ago

The global shortage of computer chips and other parts has forced General Motors (GMC) to build 95,000 vehicles without certain components during the second quarter.

U.S. inflation may have peaked as consumer spending slows in May

Thu, 06/30/2022 - 10:02

U.S. consumer spending rose less than expected in May as motor vehicles remained scarce, while higher prices forced cutbacks on purchases of other goods, another sign that the rebound in economic growth early in the second quarter was losing steam.

Canada's economy grew in April, but May contraction expected

Thu, 06/30/2022 - 06:15

The Canadian economy expanded by 0.3 per cent in April, Statistics Canada said Thursday, but warned of indications for a contraction in May.

Do unions at Starbucks mean the labour movement is picking up steam?

Thu, 06/30/2022 - 01:00

A growing effort to unionize Starbucks cafes in the U.S. and Canada as well as Amazon warehouses, Apple stores, and Indigo book shops has union leaders and experts wondering if this the start of a shift in labour movement after decades of decline in the private sector.

Air Canada to make 'meaningful reductions' to summer flight schedule

Wed, 06/29/2022 - 17:37

Air Canada will cut dozens of daily flights this summer as the airline grapples with a series of challenges amid soaring demand for travel.

Summer of labour unrest expected as inflation soars and contracts run out

Wed, 06/29/2022 - 14:16

Canada could face a summer of strikes and other labour disruptions as workers demand cost-of-living increases and better conditions than those seen throughout the past two years of the pandemic, say union officials and other observers. 

U.S. communications regulator wants TikTok removed from app stores over spying concerns

Wed, 06/29/2022 - 08:19

A commissioner with the U.S. communications regulator is asking Apple and Google to consider banning TikTok from their app stores over data security concerns related to the Chinese-owned company.

Airbnb makes ban on party houses permanent

Wed, 06/29/2022 - 07:38

Airbnb is making permanent its ban on parties at homes listed on the site for short-term rentals.

Accounting firm EY to pay $100M US fine after auditors caught cheating on ethics exams

Wed, 06/29/2022 - 06:24

Big Four accounting firm Ernst & Young will pay $100 million to settle U.S. Securities and Exchange Commission charges that its auditors cheated on certified public accounting exams and that it misled the agency's investigators.

Risk of recession high but Alberta could avoid worst impacts, says Mark Carney

Wed, 06/29/2022 - 04:00

The United States is facing an "uncomfortably high" risk of falling into a recession, says Mark Carney, former governor of the Bank of Canada, but Alberta could be insulated from the worst impacts if that happens.

Bank regulator beefs up rules for some types of home loans

Tue, 06/28/2022 - 10:25

The Office of the Superintendent of Financial Institutions is implementing new guidelines for certain types of real estate loans, including shared equity mortgages, reverse mortgages and conventional mortgages that are paired with home equity lines of credit.

Longtime partner Scotiabank says it is pausing Hockey Canada sponsorship

Tue, 06/28/2022 - 07:18

Scotiabank says it is pausing its sponsorship of Hockey Canada until the bank is confident the right steps are taken to improve the culture within the sport, on and off the ice.

Missing baggage adds to chaos at Canadian airports

Tue, 06/28/2022 - 01:00

As airlines and the federal government race to address long lines and delays at airports, some travellers are pointing out another major problem — missing luggage.

We're still waiting for this wage price spiral central bankers fear could send inflation soaring

Tue, 06/28/2022 - 01:00

Like a nuclear chain reaction, economic theory warns us that rising wages can reinforce rising prices, pushing wages even higher, all in an endless cycle. Is it just around the corner? Or are things different this time?

Did Russia just default on its foreign debt or not? Here's what we know

Mon, 06/27/2022 - 07:43

Russia is poised to default on its foreign debt for the first time since the Bolshevik Revolution more than a century ago, further alienating the country from the global financial system following sanctions imposed over its war in Ukraine.

Parents, caregivers face new juggling act as employers evaluate work-from-home policies

Mon, 06/27/2022 - 01:00

The ability to keep a close eye on loved ones has been important to many people who have been juggling their family and employment responsibilities in the same space over the course of the pandemic.

Disney, other companies vow to cover employees' out-of-state abortions

Fri, 06/24/2022 - 14:57

The Walt Disney Co., publishing giant Conde Nast and the investment firm JPMorgan Chase were among the major American companies that pledged on Friday to cover travel costs for employees seeking out-of-state abortions, in the wake of the U.S. Supreme Court's overturn of Roe v. Wade.

Stock markets end week on high note, after weeks of declines

Fri, 06/24/2022 - 14:54

Stocks buck downward trend and ended the week up as investors speculate central banks may not have to be as aggressive about raising interest rates as earlier thought.

Canadian airlines promise 'X' gender option for passengers who don't identify as male or female

Fri, 06/24/2022 - 13:51

Non-binary Canadians are upset many Canadian airlines still don't offer passengers a gender-neutral "X" option when booking flights online. Instead, they must choose male or female. The airlines are promising change.

Canadians are dispirited, cutting back on costs amid inflation highs: study

Fri, 06/24/2022 - 10:45

With inflation at a 39-year high — and banks hiking interest rates to avoid economic recession — many Canadians are said to be distressed and dispirited as they cut back on spending to manage the rising cost of living.

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