Business

Statistics Canada is expected to release its latest reading on inflation today. People shop in a grocery store in Montreal, Wednesday, Nov. 16, 2022. THE CANADIAN PRESS/Graham Hughes

Inflation dropped last month along with the cost of gasoline

Largest contributors still mortgage interest costs, food purchased from stores and rent

Statistics Canada is expected to release its latest reading on inflation today. People shop in a grocery store in Montreal, Wednesday, Nov. 16, 2022. THE CANADIAN PRESS/Graham Hughes
Sam Altman participates in a discussion during the Asia-Pacific Economic Cooperation (APEC) CEO Summit, Thursday, Nov. 16, 2023, in San Francisco. The board of ChatGPT-maker Open AI says it has pushed out Altman, its co-founder and CEO, and replaced him with an interim CEO(AP Photo/Eric Risberg, File)

Microsoft hires Sam Altman and OpenAI’s new CEO vows to investigate his firing

Microsoft snapped up Sam Altman and another architect of OpenAI for a…

Sam Altman participates in a discussion during the Asia-Pacific Economic Cooperation (APEC) CEO Summit, Thursday, Nov. 16, 2023, in San Francisco. The board of ChatGPT-maker Open AI says it has pushed out Altman, its co-founder and CEO, and replaced him with an interim CEO(AP Photo/Eric Risberg, File)
The Canada Revenue Agency has denied or adjusted $458 million in funds disbursed to employers through a pandemic-era wage subsidy program as a result of a partially completed auditing process. A sign outside the Canada Revenue Agency is seen in Ottawa, Monday, May 10, 2021. THE CANADIAN PRESS/Adrian Wyld

$458M pandemic subsidy clawback ordered after partial CRA audit

Canada Revenue Agency recalculates $100B businesses wage subsidy program

The Canada Revenue Agency has denied or adjusted $458 million in funds disbursed to employers through a pandemic-era wage subsidy program as a result of a partially completed auditing process. A sign outside the Canada Revenue Agency is seen in Ottawa, Monday, May 10, 2021. THE CANADIAN PRESS/Adrian Wyld
Oscar and Libby store owner Teri Hustins reports that the store makes a quarter of of their annual income during the 24 days of the holiday season. (Ella Matte/News Staff)

‘Pinched’ B.C. shoppers using credit cards less amid Christmas season

78% of Canadians plan to cut back on holiday spending, according to survey

Oscar and Libby store owner Teri Hustins reports that the store makes a quarter of of their annual income during the 24 days of the holiday season. (Ella Matte/News Staff)
Salmon Arm’s 4AG Robotics (formerly TechBrew Robotics) has secured $17.5 million in financing to accelerate the development and deployment robotic solutions for mushroom harvesting. (TechBrew Robotics/Youtube image)

B.C. robotics firm secures $17.5M to revolutionize mushroom industry

Salmon Arm’s TechBrew Robotics rebranding to 4AG Robotics, developing robo-mushroom picker

Salmon Arm’s 4AG Robotics (formerly TechBrew Robotics) has secured $17.5 million in financing to accelerate the development and deployment robotic solutions for mushroom harvesting. (TechBrew Robotics/Youtube image)
A proposed sale would see Glencore aquire Teck Resources Ltd’s coal assets in the Elk Valley. File Photo.

‘Not our first rodeo’: Commitments key as B.C. reacts to $9B Teck coal sale

4 coal mines central to the purchase serve as the bedrock of the East Kootenay economy

A proposed sale would see Glencore aquire Teck Resources Ltd’s coal assets in the Elk Valley. File Photo.
Andy Fillion, left, and his grandson Nicholas Fillion, 9, watch the movie Trolls World Tour at Caprice Cinemas, in Surrey, B.C., on Sunday, June 28, 2020. The B.C. film indutry may be past COVID and two Hollywood strikes, but a rebound has yet to arrive. THE CANADIAN PRESS/Darryl Dyck

Cameras gone cold for B.C.’s Hollywood North film industry

Hollywood strikes might be over but it could be some time before B.C. industry rebounds

  • Nov 15, 2023
Andy Fillion, left, and his grandson Nicholas Fillion, 9, watch the movie Trolls World Tour at Caprice Cinemas, in Surrey, B.C., on Sunday, June 28, 2020. The B.C. film indutry may be past COVID and two Hollywood strikes, but a rebound has yet to arrive. THE CANADIAN PRESS/Darryl Dyck
Danielle Vaughan and Benny Dornan are teaching Kelowna all about the benefits of mushrooms at their shop Essence Wellness. (Brittany Webster/Capital News)

Discover the magic of mushrooms at Kelowna’s Essence Wellness

The shroom shop has been open since Canada Day weekend

  • Nov 15, 2023
Danielle Vaughan and Benny Dornan are teaching Kelowna all about the benefits of mushrooms at their shop Essence Wellness. (Brittany Webster/Capital News)
A view of the TikTok app logo, in Tokyo, Japan, Sept. 28, 2020. The European Union ratcheted up its scrutiny of Big Tech companies on Thursday, Oct. 19, 2023, with demands for Meta and TikTok to detail their efforts on curbing illegal content and disinformation amid the Israel-Hamas war. (AP Photo/Kiichiro Sato, File)

Nepal bans TikTok and says it disrupts social harmony

Nepal’s government decided to ban the popular social media app TikTok on…

A view of the TikTok app logo, in Tokyo, Japan, Sept. 28, 2020. The European Union ratcheted up its scrutiny of Big Tech companies on Thursday, Oct. 19, 2023, with demands for Meta and TikTok to detail their efforts on curbing illegal content and disinformation amid the Israel-Hamas war. (AP Photo/Kiichiro Sato, File)
<div>Federal Finance Minister Chrystia Freeland says more competition is needed in Canada’s grocery sector as consumers grapple with the rising cost of living. A person wears a face mask in a grocery store in Montreal, Wednesday, Nov. 16, 2022. THE CANADIAN PRESS/Graham Hughes</div>

More competition crucial in stabilizing grocery prices, Freeland says

Pair of major Canadian grocers reported higher profits and sales in most recent quarter

<div>Federal Finance Minister Chrystia Freeland says more competition is needed in Canada’s grocery sector as consumers grapple with the rising cost of living. A person wears a face mask in a grocery store in Montreal, Wednesday, Nov. 16, 2022. THE CANADIAN PRESS/Graham Hughes</div>
FILE - This March 20, 2018, file photo shows the YouTube app on an iPad in Baltimore. YouTube is rolling out new rules for AI content, Tuesday, Nov. 14, 2023, including requiring creators to reveal whether they’ve used generative artificial intelligence to make realistic looking videos. (AP Photo/Patrick Semansky, File)

YouTube creators will soon have to disclose use of gen AI in videos or risk suspension

YouTube is rolling out new rules for AI content, including a requirement…

FILE - This March 20, 2018, file photo shows the YouTube app on an iPad in Baltimore. YouTube is rolling out new rules for AI content, Tuesday, Nov. 14, 2023, including requiring creators to reveal whether they’ve used generative artificial intelligence to make realistic looking videos. (AP Photo/Patrick Semansky, File)
A group representing Canada’s engineers is urging Alberta’s premier to reconsider a proposal the province recently tabled that aims to loosen restrictions around who can use the “engineer” title. Alberta Premier Danielle Smith speaks to party faithful at the United Conservative Party annual general meeting in Calgary, Saturday, Nov. 4, 2023.THE CANADIAN PRESS/Jeff McIntosh

Calls for Alberta to reconsider change to rules around ‘engineer’ title

Engineering group does not want to see loosening of title

A group representing Canada’s engineers is urging Alberta’s premier to reconsider a proposal the province recently tabled that aims to loosen restrictions around who can use the “engineer” title. Alberta Premier Danielle Smith speaks to party faithful at the United Conservative Party annual general meeting in Calgary, Saturday, Nov. 4, 2023.THE CANADIAN PRESS/Jeff McIntosh
Carolyn Rogers, Senior Deputy Governor at the Bank of Canada waits to appear as a witness before the Senate of Canada Standing Commitee on Banking, Commerce and the Economy in Ottawa, on Thursday, April 20, 2023. THE CANADIAN PRESS/Spencer Colby

Canadians should not expect interest rates to drop back to previous lows

Bank of Canada official says don’t count on pre-pandemic rates returning

Carolyn Rogers, Senior Deputy Governor at the Bank of Canada waits to appear as a witness before the Senate of Canada Standing Commitee on Banking, Commerce and the Economy in Ottawa, on Thursday, April 20, 2023. THE CANADIAN PRESS/Spencer Colby
Buildings are reflected in the windows of the new IKEA store on its opening day in San Francisco, Wednesday, Aug. 23, 2023. (AP Photo/Eric Risberg)

New Ikea Canada CEO leaning into efficiency as he works to improve back end

Company leaning on automation as it overhauls fulfilment network

Buildings are reflected in the windows of the new IKEA store on its opening day in San Francisco, Wednesday, Aug. 23, 2023. (AP Photo/Eric Risberg)
FILE - The Airbnb app icon is displayed on an iPad screen in Washington, D.C., on May 8, 2021. Airbnb reports earnings on Wednesday, Nov. 1, 2023. (AP Photo/Patrick Semansky, File)

Airbnb set to play favourites with listings in bid to improve reliability

Airbnb said that it will roll out what it calls ‘Guest Favorites’ ranking system this week

FILE - The Airbnb app icon is displayed on an iPad screen in Washington, D.C., on May 8, 2021. Airbnb reports earnings on Wednesday, Nov. 1, 2023. (AP Photo/Patrick Semansky, File)
FILE - Yeezy shoes made by Adidas are displayed at Laced Up, a sneaker resale store, in Paramus, N.J., on Oct. 25, 2022. Adidas is releasing a second batch of high-end Yeezy sneakers after cutting ties with rapper Ye, formerly known as Kanye West, as the shoemaker seeks to unload the unsold shoes while donating to groups fighting antisemitism. The online sale, to start Wednesday Aug. 2, 2023 through the Confirmed app, Adidas app and adidas.com, follows an earlier batch of sales in May. (AP Photo/Seth Wenig, File)

Adidas says it may write off remaining unsold Yeezy shoes after breakup with Ye

Adidas said it might have to write off the remaining 300 million…

FILE - Yeezy shoes made by Adidas are displayed at Laced Up, a sneaker resale store, in Paramus, N.J., on Oct. 25, 2022. Adidas is releasing a second batch of high-end Yeezy sneakers after cutting ties with rapper Ye, formerly known as Kanye West, as the shoemaker seeks to unload the unsold shoes while donating to groups fighting antisemitism. The online sale, to start Wednesday Aug. 2, 2023 through the Confirmed app, Adidas app and adidas.com, follows an earlier batch of sales in May. (AP Photo/Seth Wenig, File)
File - The Instagram logo is seen on a cell phone in Boston, USA, Friday, Oct. 14, 2022. Facebook and Instagram users in Europe are getting the option to pay for ad-free versions of the social media platforms as a way to comply with the continent’s strict data privacy rules. (AP Photo/Michael Dwyer, File)

Former Meta engineering leader to testify before Congress on Instagram’s harms to teens

On the same day whistleblower Frances Haugen was testifying before Congress about…

File - The Instagram logo is seen on a cell phone in Boston, USA, Friday, Oct. 14, 2022. Facebook and Instagram users in Europe are getting the option to pay for ad-free versions of the social media platforms as a way to comply with the continent’s strict data privacy rules. (AP Photo/Michael Dwyer, File)
As the deadline to repay pandemic loans and receive partial forgiveness approaches, small businesses are still hoping the federal government will reverse course and extend it for another year. The Peace Tower is pictured from the roof of the Centre Block during a media tour of the Centre Block restoration project on Parliament Hill in Ottawa, Thursday, June 22, 2023. THE CANADIAN PRESS/Sean Kilpatrick

Small businesses still pleading for federal pandemic loan extension

$49.2 billion CEBA program scheduled to come due early in the new year

As the deadline to repay pandemic loans and receive partial forgiveness approaches, small businesses are still hoping the federal government will reverse course and extend it for another year. The Peace Tower is pictured from the roof of the Centre Block during a media tour of the Centre Block restoration project on Parliament Hill in Ottawa, Thursday, June 22, 2023. THE CANADIAN PRESS/Sean Kilpatrick
FILE - People pass through Salt Lake City International Airport, June 27, 2022, in Salt Lake City. The cost of travel has fluctuated sharply in recent years, but travelers expecting high prices now might be in for a pleasant surprise. Data show that many travel expenses, including airfare, have decreased recently. Domestic flights in particular have been less expensive, and while international airfare remains elevated, it too is coming down as airlines slowly add more capacity. (AP Photo/Rick Bowmer, file)

Complicated market dealing travellers a mixed hand

Some travel costs flying against general inflation trends

FILE - People pass through Salt Lake City International Airport, June 27, 2022, in Salt Lake City. The cost of travel has fluctuated sharply in recent years, but travelers expecting high prices now might be in for a pleasant surprise. Data show that many travel expenses, including airfare, have decreased recently. Domestic flights in particular have been less expensive, and while international airfare remains elevated, it too is coming down as airlines slowly add more capacity. (AP Photo/Rick Bowmer, file)
Air Canada passengers check in at the Vancouver International Airport on June 17, 2008. Air Canada says the country’s passenger rights overhaul will hardly hurt its bottom line.THE CANADIAN PRESS/Darryl Dyck

Passenger rights overhaul will barely dent bottom line, Air Canada says

‘But certainly it could have some impacts that may still be felt when we look forward’

Air Canada passengers check in at the Vancouver International Airport on June 17, 2008. Air Canada says the country’s passenger rights overhaul will hardly hurt its bottom line.THE CANADIAN PRESS/Darryl Dyck