Business
Auto sales rise 3.7 per cent in March from a year earlier
By The Canadian Press on April 4th, 2023
TORONTO – DesRosiers Automotive Consultants Inc. says auto sales rose 3.7 per cent in March from a year earlier for a fifth month in a row of gains. The consultant says overall there were an estimated 146,000 light vehicle sales for the month among reporting companies. Andrew King, managing partner at DesRosiers, says in the ... Read More »
Be the first to comment!Federal privacy watchdog probing OpenAI, ChatGPT after complaint about popular bot
By The Canadian Press on April 4th, 2023
OTTAWA – The Office of the Privacy Commissioner of Canada has launched an investigation into the company behind ChatGPT, an explosively popular artificial intelligence-powered chatbot. The office says it is initiating the investigation into U.S.-based company OpenAI because it received a complaint alleging “the collection, use and disclosure of personal information without consent.” Privacy commissioner ... Read More »
Be the first to comment!Scotiabank chief executive says bank funding stable, working on improved returns
By The Canadian Press on April 4th, 2023
TORONTO – Scotiabank chief executive Scott Thomson says the bank has not delivered the returns shareholders should expect. Speaking at his first shareholder meeting as head of Scotiabank, Thomson says the bank is working through a company-wide strategic refresh to improve its performance. Thomson also acknowledged the global banking turmoil that’s taken place over the ... Read More »
Be the first to comment!Credit Suisse investors slam failures as chairman apologizes
By Jamey Keaten, The Associated Press on April 4th, 2023
ZURICH (AP) – Credit Suisse shareholders on Tuesday upbraided the Swiss bank’s leaders for years of mismanagement, scandal and obfuscation that sent its stock price into the gutter, while executives apologized and insisted that the only way forward for the once-venerable lender was a government-engineered takeover by rival UBS. A largely polite – if at ... Read More »
Be the first to comment!Feb job openings slip to 9.9M; a win in inflation fight?
By Paul Wiseman, The Associated Press on April 4th, 2023
WASHINGTON (AP) – U.S. job openings slipped to 9.9 million in February, fewest since May 2021 and a sign that the job market may be starting to cool, which would be welcome news for the inflation fighters at the Federal Reserve. Vacancies fell from 10.6 million in January, the Labor Department said Tuesday, notably in ... Read More »
Be the first to comment!Bank of Canada deputy governor Paul Beaudry to leave post, return to academia at UBC
By The Canadian Press on April 4th, 2023
OTTAWA – The Bank of Canada says deputy governor Paul Beaudry will be leaving his position at the central bank at the end of July. According to a news release, Beaudry will return to his academic position at the University of British Columbia. Beaudry is one of four deputy governors who are on the governing ... Read More »
Be the first to comment!Vancouver’s March home sales down 42.5% from a year ago: B.C. board
By The Canadian Press on April 4th, 2023
VANCOUVER – The Real Estate Board of Greater Vancouver says home sales fell 42.5 per cent in March from a year ago and were 28.4 per cent below the 10-year seasonal average. Last month’s sales totalled 2,535 compared with 4,405 sales in March 2022 and 1,808 in February. The B.C. board says the numbers signal ... Read More »
Be the first to comment!US job openings slip to 9.9 million in February
By Paul Wiseman, The Associated Press on April 4th, 2023
WASHINGTON (AP) – U.S. job openings slipped to 9.9 million in February, fewest since May 2021 and a sign that the job market may be starting to cool, which would be welcome news for the inflation fighters at the Federal Reserve. Vacancies were down from 10.6 million in January, the Labor Department said Tuesday. The ... Read More »
Be the first to comment!Lacking financial literacy, young people are taking it into their own hands
By Noushin Ziafati, The Canadian Press on April 4th, 2023
In 2020, Jonathan Atwin and his partner jumped on the personal finance wagon, teaching themselves all about money and how to manage it better. “At the time, we were carrying some debt, so we wanted to try to tackle that,” said Atwin. It started with TikTok videos. Then, the Halifax-based millennial couple turned to recommended ... Read More »
Be the first to comment!Canada’s national office vacancy rate hit an all-time high in Q1: CBRE
By The Canadian Press on April 4th, 2023
TORONTO – CBRE says Canada’s national office vacancy rate hit an all-time high in the first quarter of the year. The real estate firm says the country’s overall office vacancy rate amounted to 17.7 per cent, while downtown office vacancies sat at 18.4 per cent and the suburban rate landed at 16.8 per cent. Toronto’s ... Read More »
Be the first to comment!Canada Life buying Investment Planning Counsel business from IGM Financial
By The Canadian Press on April 4th, 2023
WINNIPEG – The Canada Life Assurance Co. has signed a deal to acquire wealth management firm Investment Planning Counsel Inc. from IGM Financial Inc. for $575 million. Canada Life says the IPC business is profitable today and the deal is expected to be modestly accretive after two years. It estimates that transaction and integration costs ... Read More »
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