Business
Tesla recalls ‘Full Self-Driving’ to fix flaws in behavior
By Tom Krisher, The Associated Press on February 16th, 2023
DETROIT (AP) – Tesla is recalling nearly 363,000 vehicles with its “Full Self-Driving” system to fix problems with the way it behaves around intersections and following posted speed limits. The recall, part of a larger investigation by U.S. safety regulators into Tesla’s automated driving systems, came after regulators expressed concerns about the way Tesla’s system ... Read More »
Be the first to comment!Macklem says economy still overheated and jobs market is too tight
By Nojoud Al Mallees, The Canadian Press on February 16th, 2023
OTTAWA – As the Bank of Canada monitors the economy’s response to higher interest rates, governor Tiff Macklem says it is still overheated and the labour market is too tight. The governor’s comments come after Statistics Canada’s most recent labour force survey revealed the economy added 150,000 jobs last month as the unemployment rate hovers ... Read More »
Be the first to comment!Record oil profits ‘enough to make you ball up your fists,’ says N.L. minister
By Sarah Smellie, The Canadian Press on February 16th, 2023
ST. JOHN’S, N.L. – After handing oil companies more than $280 million in cash during the COVID-19 pandemic, Newfoundland and Labrador’s energy minister says it’s tough to watch those same companies rake in record-shattering profits. Andrew Parsons took on the energy portfolio in August 2020, about a month before crashing global oil prices prompted Husky ... Read More »
Be the first to comment!Prominent businessman Mitch Garber pitches local ownership for Montreal Gazette
By The Canadian Press on February 16th, 2023
MONTREAL – A prominent local businessman and lawyer says he’s offered to take a stake in the Montreal Gazette as the newspaper faces deep staff cuts. Mitch Garber says he informed management at Postmedia, which owns the paper, that he would be interested in assembling a group of Montrealers to buy a minority or majority ... Read More »
Be the first to comment!Cenovus CEO Pourbaix to step down, become executive chair; Jon McKenzie to be new CEO
By Amanda Stephenson, The Canadian Press on February 16th, 2023
CALGARY – Cenovus Energy Inc. chief executive Alex Pourbaix will step down from the CEO role later this year, the Calgary-based energy company announced Thursday. Pourbaix, who has led Cenovus since November of 2017, will remain part of the company’s leadership team as executive chair. Current Cenovus chief operating officer Jon McKenzie will become CEO. ... Read More »
1 responseCanadian Tire ‘bullish’ on auto parts and service as consumers focus on essentials
By Brett Bundale, The Canadian Press on February 16th, 2023
Canadian Tire Corp. Ltd. capped its centennial year with strong growth in its automotive business as demand for auto parts and service helped offset softer spending on non-essential items, the company said Thursday. The standout performance of its auto division underscored a broader consumer focus on essential goods and services across the company’s banners as ... Read More »
1 responseOverheated economy fueling inflation, labour market too tight: Macklem
By The Canadian Press on February 16th, 2023
OTTAWA – Bank of Canada governor Tiff Macklem says the economy is still overheated and the labour market is too tight. The governor’s comments come after Statistics Canada’s most recent labour force survey revealed the economy added 150,000 jobs last month as the unemployment rate hovers around record-lows. While testifying before the House of Commons ... Read More »
1 responseTeck reviewing alternatives for steelmaking coal business
By The Canadian Press on February 16th, 2023
VANCOUVER – Teck Resources Ltd. says it’s evaluating alternatives for its steelmaking coal business, including the possible spin-out of an interest in that business to its shareholders. It says no decision has been reached to proceed with a transaction, and it can’t make any assurances that any kind of deal will happen. Teck says any ... Read More »
1 responseNutrien to slightly delay potash production ramp-up as global sales slump
By Amanda Stephenson, The Canadian Press on February 16th, 2023
CALGARY – Nutrien Ltd. will slightly delay the timing of its plan to ramp up potash production, due to slumping sales. The Saskatoon-based company, which is the largest fertilizer producer in the world, announced disappointing fourth-quarter financial results Wednesday evening. Nutrien Ltd. came in below Wall Street estimates, earning $1.1 billion in the fourth quarter ... Read More »
1 responseGroup: Tesla workers fired after union push at NY plant
By Michelle Chapman, The Associated Press on February 16th, 2023
Several employees at a Tesla factory in New York have been fired a day after launching union organizing efforts, according to Tesla Workers United. The workers at the Buffalo plant received an email Wednesday evening updating them on a new policy that prohibits them from recording workplace meetings without all participants’ permission, the group said ... Read More »
1 responseHigher rates more than offset home price drop to worsen affordability: report
By The Canadian Press on February 16th, 2023
TORONTO – A new report says that while home prices are down compared with last year, higher mortgage rates mean affordability hasn’t improved for Canadians. The report by Ratehub.ca says in nine of the 10 major cities it reviewed, Canadians need a higher annual income compared with January 2022 to qualify for a mortgage for ... Read More »
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