Business
Robot vs. human: Saskatoon brewer goes head to head with ChatGPT-designed beer
By Kelly Geraldine Malone, The Canadian Press on May 5th, 2023
SASKATOON – It may have been the greatest battle between robots and humans to ever take place inside a Saskatchewan brewery. The grain mash was masterful and the fermentation feisty as a brewer went head to head in a taste-off with ChatGPT to find out who, or what, can make the best beer. The idea ... Read More »
Be the first to comment!Air Canada boosts earnings outlook for 2023, citing strong demand and traffic
By The Canadian Press on May 4th, 2023
MONTREAL – Air Canada hiked its earnings outlook Thursday, saying it expects earnings to rise due to an improvement in traffic as well as stronger-than-anticipated demand and lower-than-expected fuel prices. The Montreal-based airline says adjusted earnings before interest, taxes, depreciation and amortization in 2023 are expected to come in between $3.5 billion and $4 billion, ... Read More »
Be the first to comment!OpenText sees revenues soar more than 40 per cent in third quarter, income dips
By The Canadian Press on May 4th, 2023
WATERLOO – Open Text Corp. says its net income was US$57.6 million in the third quarter, down 22.9 per cent from US$74.7 million a year earlier. The Waterloo-based company, which reports in U.S. dollars, says revenues were US$1.24 billion, up 41.1 per cent from US$882.3 million a year earlier. Earnings per diluted share were 21 ... Read More »
Be the first to comment!S&P/TSX composite loses more than 100 points, U.S. markets also down
By Rosa Saba, The Canadian Press on May 4th, 2023
TORONTO – Canada’s main stock index was down more than 100 points Thursday amid broad-based losses, while U.S. markets were also down as uncertainty continued to grip the regional banking sector south of the border. Turmoil in the U.S. regional banking sector weighed on markets, with more bad news for the industry as Toronto-Dominion Bank ... Read More »
Be the first to comment!Loblaw strikes deal with TC Energy to power all Alberta operations with renewables
By The Canadian Press on May 4th, 2023
TORONTO – Loblaw Companies Ltd. says it has reached a deal with TC Energy that will see the grocer’s operations in Alberta powered entirely by wind, sun and water. The retailer says the arrangement is a first of its kind in Canada, providing its 280 supermarket and drugstore locations as well as its offices and ... Read More »
Be the first to comment!Canadian Natural Resources reports Q1 profit down as oil prices slide
By Amanda Stephenson, The Canadian Press on May 4th, 2023
CALGARY – Canadian Natural Resources Ltd. saw its profits in the first quarter decline 41 per cent year-over-year as oil prices weakened. The Calgary-based company, which is Canada’s largest oil and gas producer by market capitalization and a darling of the financial analyst community for its history of strong performance, reported a first-quarter profit of ... Read More »
Be the first to comment!Stock market today: Wall Street sinks as bank fears flare
By Stan Choe, The Associated Press on May 4th, 2023
NEW YORK (AP) – Stocks closed lower as Wall Street’s worries about the U.S. banking system cranked even higher. The S&P 500 lost 0.7% Thursday. The Dow Jones Industrial Average fell 286 points and is now down for the year. The Nasdaq composite also closed lower. PacWest Bancorp fell by half as investors looked for ... Read More »
Be the first to comment!Bell, Telus executives express confidence following closure of Rogers-Shaw merger
By Sammy Hudes, The Canadian Press on May 4th, 2023
Following Rogers Communications Inc.’s successful closing of the largest telecommunications deal in Canadian history last month, the company’s two main rivals say they are well-positioned to compete in the altered industry landscape. Bell Canada president and CEO Mirko Bibic said Thursday he’s encouraged by the state of competition in the sector following the $26-billion purchase ... Read More »
Be the first to comment!Parkland rejects activist investor’s call to sell or spin off Burnaby, B.C. refinery
By Amanda Stephenson, The Canadian Press on May 4th, 2023
CALGARY – Parkland Fuel Corp. said Thursday its Burnaby, B.C. refinery is not for sale, even in the face of pressure from an activist investor. The Calgary-based fuel retailer and convenience store operator has been the subject of a campaign by U.S.-based Engine Capital LP, which owns about a two per cent stake in Parkland. ... Read More »
Be the first to comment!Shopify to reduce workforce by 20% as it narrows focus to core e-commerce business
By Tara Deschamps, The Canadian Press on May 4th, 2023
TORONTO – Shopify Inc. says it will reduce its head count by about 20 per cent and sell its logistics business as it aims to reduce distracting “side quests” in the latest big change by the Canadian tech company. The changes come despite Shopify president Harley Finkelstein saying in February that there were no more ... Read More »
Be the first to comment!‘Your presence is a present’: How to navigate invitations that say ‘no gifts’
By Tara Deschamps, The Canadian Press on May 4th, 2023
TORONTO – You’ve received an invitation to a milestone birthday, wedding or baby shower and after glossing over some details you spot the saying: “your presence is a present.” The line has been making it into invitations for years, but can still be confusing for guests. Is the message just a platitude or do hosts ... Read More »
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