AI boom benefits Anguilla

The artificial intelligence boom has benefited chatbot makers, computer scientists and Nvidia investors. It’s also providing an unusual windfall for Anguilla, a tiny island in the Caribbean. ChatGPT’s debut nearly two years ago heralded the dawn of the AI age and kicked off a digital gold rush as companies scrambled to stake their own claims […]

Boeing to lay off employees

Boeing plans to lay off about 10% of its workers in the coming months as it continues to lose money and tries to deal with a strike that is crippling production of the company’s best-selling airline planes. New CEO Kelly Ortberg told staff in a memo Friday that the job cuts will include executives, managers […]

Commodity prices lift index

Canada’s main stock index ticked higher Thursday thanks to higher commodity prices, even as fresh inflation data south of the border caused U.S. markets to fall back from the previous day’s record highs. The S&P/TSX composite index closed up 77.36 points at 24,302.26. That came in contrast to New York, where the Dow Jones industrial […]

Air Canada pilots happy with deal

MONTREAL — Air Canada pilots have given a green light to a tentative agreement with the airline, dashing fears of a future strike and overcoming concerns about entry-level pay and quality-of-life provisions. The Air Line Pilots Association said Thursday its members voted 67% in favour of the deal, allowing management and passengers to breathe easier. […]

Commissions lawsuit settled

TORONTO — Siskinds LLP says a $70.25 million class-action settlement has been reached with TD Asset Management over commissions paid to discount brokers. The law firm says the class action members alleged that since discount brokers aren’t allowed to provide investment advice, investors receive no value for the trailing commissions they pay to such brokers. […]

US attorneys go after TikTok

More than a dozen states and the District of Columbia filed lawsuits against TikTok on Tuesday, saying that the popular short-form video app is designed to be addictive to kids and harms their mental health. The lawsuits stem from a national investigation into TikTok, which was launched in March 2022 by a bipartisan coalition of […]

Purchasing power varied

OTTAWA — Inflation and higher interest rates have eroded Canadians’ purchasing power since 2022, particularly for lower-income households, a new report from the parliamentary budget officer has found. But wealthier households have seen their purchasing power rise thanks in big part to their investment income. Over a longer time period—since the last quarter of 2019—the […]

CRTC: Roam rates must fall

Canada’s telecommunications regulator says the country’s largest cellphone carriers must take steps to make their international roaming rates more affordable. BCE Inc., Rogers Communications Inc. and Telus Corp. have until Nov. 4 to inform the CRTC of “concrete steps” they are taking to respond to concerns about rising cellphone fees that Canadians face when travelling […]

Ticketmaster alters transfer rules

TORONTO — Ticketmaster is enforcing new rules around how fans transfer Taylor Swift tickets amid a surge in reported scams. The ticket sales giant recently updated its website to say ticket transfers for Swift’s concerts can only start 72 hours before the event. Previously, Swifties could transfer tickets between Ticketmaster accounts at any time. Representatives […]

Index rises nearly 200 points

TORONTO — Canada’s main stock index gained almost 200 points Friday, led by strength in energy, tech and base metals, while U.S. markets also rose. The latest U.S. employment report surprised to the upside, bringing relief to market watchers, said Graham Priest, portfolio manager at BlueShore Financial. The report showed the U.S. economy added 254,000 […]