Business News

Hurricanes Panthers Hockey

Canadian fans may not love the Stanley Cup matchup — but it's good for the game

Peter Armstrong | News/Business | Sat, 27 May 2023 04:00:00 EDT

Canadian fans and broadcast rights holders would prefer to see some big names in the Stanley Cup final. But a matchup of two emerging-market teams can grow the game — and eventually the salary cap. read more

NEURALINK-MUSK/USDA

Neuralink, Elon Musk's brain implant company, says it's received FDA approval for human trials

The Associated Press | News/Business | Fri, 26 May 2023 16:37:56 EDT

Neuralink says it's gotten permission from U.S. regulators to begin testing its brain implant device in people. The company made the announcement on Twitter Thursday evening but has provided no details about a potential study, which was not listed on the U.S. government database of clinical trials. read more

Jamy McKenzie

Want to fix Canada's cannabis business? Loosen THC limit and packaging rules, Competition Bureau recommends

Pete Evans | News/Business | Fri, 26 May 2023 12:39:37 EDT

Canada's competition watchdog says the federal government should consider loosening the restrictive rules on how cannabis has to be packaged and raise the amount of psychoactive ingredients that are allowed in edible products to help the industry thrive and stamp out the black market while maintaining public safety. read more

Basma Hameed

Canadian burn survivor's 40-shade foundation line gets picked up by beauty giant Sephora

Sophia Harris | News/Business | Fri, 26 May 2023 04:00:00 EDT

Basma Hameed struggled to find the right foundation to cover her burn scars. So she created her own foundation line that is now selling online at Sephora and will soon be available in the retailer's 100 stores in Canada. read more

University-AI-Bots 20230120

More Canadian privacy authorities investigating ChatGPT's use of personal information

CBC News | News/Canada/British Columbia | Thu, 25 May 2023 12:41:00 EDT

Four federal and provincial privacy authorities in Canada have launched an investigation into OpenAI, the company behind artificial intelligence-powered chatbot ChatGPT, after receiving a complaint about the company's disclosure of personal information. read more

Lamplighter Pub Spirit

Vancouver's Donnelly Group of bars and restaurants files for creditor protection

Karin Larsen | News/Canada/British Columbia | Wed, 24 May 2023 19:42:18 EDT

Donnelly Group owns 11 establishments in Vancouver, including the Lamplighter Pub in Gastown and Bomber Brewing craft brewery. read more

Jensen Huan

Microchip maker Nvidia is worth $1T today — and it's all because of AI

Pete Evans | News/Business | Thu, 25 May 2023 10:09:32 EDT

Microchip maker Nvidia Corp. was poised to join an exclusive list of companies worth more than $1 trillion on Thursday as the company said that feverish demand for AI technology was causing booming demand for its products. read more

Air Canada jet taking off in Montreal in June 2022

FAA order grounding all Air Canada and Rouge flights in U.S. lifted

CBC News | News/Business | Thu, 25 May 2023 12:38:15 EDT

A brief ground stop order for all Air Canada and Rouge flights in the U.S. due to an unspecified computer issue has been lifted. read more

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Surging consumer confidence goes head-to-head with gloomy economic warnings. Who's right?

Don Pittis | News/Business | Thu, 25 May 2023 04:00:00 EDT

Canadian banks set aside new cash for bad loans, as the Bank of Canada and the CMHC warn on the risks of growing debt. Yet consumer confidence is rising. Are we just not listening? read more

JAYS V TIGERS HOME OPENER

Prices for some Blue Jays season tickets are doubling. No, fans are not happy

Natalie Stechyson | News/Business | Wed, 24 May 2023 21:33:59 EDT

After an April email was sent out to season-ticket holders on the next phase of the $300-million Rogers Centre renovations, some longtime fans were dismayed to realize their coveted seats in the lower bowl will no longer exist where they used to, and they face a steep price increase for new seats. read more

Companies Ditching Russia

Some companies say they can't quit Russia, others find leaving complicated but worth it

David Mchugh | News/Business | Thu, 25 May 2023 08:30:44 EDT

More than a year after the Ukraine invasion, it's clear that leaving Russia was not as simple as the first announcements might have made it seem for global companies. read more

PELOTON SHOWROOM

Peloton doesn't want to be known as just a bike company anymore — so they're rebranding

The Associated Press | News/Business | Wed, 24 May 2023 16:30:53 EDT

Peloton is undergoing a significant rebrand, dumping its identity as a seller of luxury exercise bikes and equipment for one of health technology for all. read more

bank towers toronto

Profits dip as BMO and Scotiabank set aside hundreds of millions to cover bad loans

Pete Evans | News/Business | Wed, 24 May 2023 09:59:26 EDT

Two of Canada's biggest lenders revealed quarterly earnings on Wednesday that suggest a gloomier outlook for Canada's economy, with sharply lower profits and a large jump in the amount of money they're setting aside to cover bad loans. read more

UK MORTGAGES

Households now owe more than Canada's entire GDP, housing agency warns

Pete Evans | News/Business | Tue, 23 May 2023 15:12:23 EDT

Canadian households are more in debt than those in any other G7 country, and the amount they owe is now more than the value of the entire economy, the deputy chief economist with Canada's housing agency is warning in a new report. read more

NETFLIX AWARDS

Netflix to start charging U.S. customers an extra $8 for sharing account outside the house

The Associated Press | News/Business | Tue, 23 May 2023 15:09:33 EDT

Netflix on Tuesday outlined how it intends to crack down on the rampant sharing of account passwords in the U.S., its latest bid to reel in more subscribers to its video streaming service amid a slowdown in growth. read more

dragons' den ottawa senators

Dragons' Den investors join star-studded Ottawa Senators bid

CBC News | News/Canada/Ottawa | Tue, 23 May 2023 10:53:57 EDT

The group trying to leverage star power for its bid to own the Ottawa Senators continues to add more known names to its list. read more

GLOBAL-BANKS/SVB-FIRST CITIZENS

Bank that bought Silicon Valley Bank sues HSBC for poaching staff

Reuters | News/Business | Mon, 22 May 2023 14:38:23 EDT

First Citizens BancShares Inc, which acquired Silicon Valley Bank following its collapse, sued HSBC Holdings PLC on Monday, accusing it of illegally poaching more than 40 of the failed bank's employees. read more

TikTok Ban 20230225

TikTok sues Montana to overturn first statewide ban on video-sharing app

The Associated Press | News/World | Mon, 22 May 2023 17:36:05 EDT

Social media company TikTok Inc. filed a lawsuit Monday seeking to overturn Montana's ban on the video-sharing app, arguing the law is an unconstitutional violation of free speech rights and is based on "unfounded speculation" that the Chinese government could access user data. read more

aveleigh-kyle-nurse

Why rethinking retirement might help solve Canada's demographic crunch

Paul Hantiuk | Radio/Cross Country Checkup | Sun, 21 May 2023 04:00:54 EDT

Canada is being hit by a demographic crisis, sometimes called “the grey wave.” While the economy is adding jobs, economists say the crisis is more than a numbers game and ageism might be costing firms invaluable institutional experience and productivity. read more

Man taking a photo of sign outside Meta headquarters in Menlo Park, Calif.

Meta hit with record fine by Irish regulator over U.S. data transfers

Reuters | News/Business | Mon, 22 May 2023 08:59:12 EDT

Facebook parent company Meta was hit with a record 1.2 billion euro ($1.75 billion Cdn) fine by Ireland's privacy regulator over its handling of user information and given five months to stop transferring users' data to the United States. read more

Micro weddings grew during COVID. With inflation, are they here to stay?

Micro weddings grew during COVID. With inflation, are they here to stay?

Canada/Consumer/Economy | Sat, 27 May 2023 10:00:06 +0000

As inflation continues to squeeze wallets, Canadian couples are looking for ways to trim their wedding expenses — and a smaller guest list is one of them. read more

Debt ceiling deal needs to happen by June 5 to avoid default: Yellen

Debt ceiling deal needs to happen by June 5 to avoid default: Yellen

Economy/Money/U.S. News | Fri, 26 May 2023 21:31:11 +0000

"If Congress fails to increase the debt limit, it would cause severe hardship to American families," Treasury Secretary Janet Yellen is warning. read more

Nvidia’s stock surged this week. How the AI boom played a role

Nvidia’s stock surged this week. How the AI boom played a role

Money/Tech/AI | Fri, 26 May 2023 18:15:49 +0000

Nvidia Corp closed in on a trillion-dollar market value on Thursday as shares surged 25 per cent following a bumper earnings report. read more

Surge in U.S. spending could force Fed off ‘pause’ in rate hikes

Surge in U.S. spending could force Fed off ‘pause’ in rate hikes

Money/Politics/U.S. News | Fri, 26 May 2023 16:32:36 +0000

Coupled with possible progress on a debt ceiling deal to avoid a catastrophic U.S. default, the data throws doubt on whether the Fed will indeed "pause" its rate-hike campaign. read more

S&P/TSX composite rises almost 150 points Friday, U.S. markets also gain

S&P/TSX composite rises almost 150 points Friday, U.S. markets also gain

Economy/Money/money | Fri, 26 May 2023 15:57:28 +0000

The S&P/TSX composite index was up 146.23 points at 19,920.31. read more

Debt ceiling deal appears in reach ahead of U.S. holiday weekend

Debt ceiling deal appears in reach ahead of U.S. holiday weekend

Money/Politics/U.S. News | Thu, 25 May 2023 23:40:22 +0000

Lawmakers regularly need to raise the self-imposed debt limit to cover the cost of spending and tax cuts they have already approved. read more

Young investors questioning ‘risky’ call to become landlords amid higher rates

Young investors questioning ‘risky’ call to become landlords amid higher rates

Canada/Economy/Money | Thu, 25 May 2023 19:00:31 +0000

More than half of young real estate investors are considering selling their property as rising interest rates hurt their business cases, a Royal LePage survey shows. read more

S&P/TSX composite weighed down by losses in energy and telecom; U.S. markets mixed

S&P/TSX composite weighed down by losses in energy and telecom; U.S. markets mixed

Economy/Money/money | Thu, 25 May 2023 16:20:12 +0000

The S&P/TSX composite index was down 153.61 points at 19,774.08. read more

Canadian mortgage debt surges to $2.08T amid high inflation, interest rates 

Canadian mortgage debt surges to $2.08T amid high inflation, interest rates 

Consumer/Economy/Money | Thu, 25 May 2023 15:30:14 +0000

However, the federal housing agency says in a new report that the rate of growth for mortgage debt slowed compared with recent years. read more

Fears of bad loans show up in CIBC, RBC and TD Bank earnings

Fears of bad loans show up in CIBC, RBC and TD Bank earnings

Economy/Money/canada bank earnings | Thu, 25 May 2023 14:28:46 +0000

TD, RBC and CIBC continued all put aside more money for loans that could go sour in the latest quarter amid continued economic uncertainty. read more

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