Business News

Longshots try ‘optimism’ strategy in GOP primary of doom and gloom

Posted on June 12, 2023

Donald Trump and Ron DeSantis are betting that primary voters, like the Leonard Cohen song, “want it darker.” For weeks, the frontrunners in the Republican presidential primary have painted current events in increasingly apocalyptic terms, in a fundraising appeal, likening his indictment on Thursday to “watching our Republic DIE.” DeSantis, who had previously suggested the government is imposing a “biomedical security state,” said “the weaponization of federal law enforcement represents a mortal threat to a free society.” At a VFW Hall in Laconia, NH earlier this month, the Florida governor asked repeatedly if anyone was “happy” with the state of…

A new way to run a business as seen by pizza places in the US

Posted on June 12, 2023

SAN JOSE, Calif. – There is something different about A Slice of New York Pizza in San Jose. And it goes beyond their award-winning pies. It’s about the people. In fact, everyone in the kitchen owns an equal slice of the business. “We’re a worker co-op, which means all the members and owners of the business work in the business,” said the restaurant’s founder Kirk Vartan. He started the business 17 years ago. Six years ago, he turned it into a co-op by selling the business to his staff as a leveraged buyout. The employee-owners are now paying back a…

Real or AI? Europe seeks label as it fights disinformation – Business News

Posted on June 8, 2023

Photo: The Canadian PressThe European Union is pushing online platforms like Google and Meta to step up the fight against false information by adding labels to text, photos and other content generated by artificial intelligence, a top official said Monday. EU Commission Vice President Vera Jourova said the ability of a new generation of AI chatbots to create complex content and visuals in seconds raises “fresh challenges for the fight against disinformation.” Jourova said she asked Google, Meta, Microsoft, TikTok and other tech companies that have signed up to the 27-nation bloc’s voluntary agreement on combating disinformation to dedicate…

Tired of getting spam calls? Here’s why you may never get rid of them

Posted on June 7, 2023

Spam calls — or “scam calls” as they’re also known — have become an infuriating part of life. By now, most people are well acquainted with fraudsters trying to dupe you out of your cash by impersonating government officials or Amazon employees. “I’m still getting a lot of spam calls,” said Pradeep Selvaraj, an IT professional in Whitby, Ont., who has posted about the issue on his YouTube channel. Salvaraj estimates he receives two to three calls a week from scammers — often while at work. They claim they’re from the “CRA, RCMP, duct cleaning, Amazon, UPS shipping and the…

Spotify laying off 2% of workforce, mostly podcast division

Posted on June 6, 2023

business Spotify Technology SA said on Monday it would lay off 200 employees in its podcast division, representing about 2 per cent of the audio streamer’s worldwide workforce. Audio streaming giant is getting rid of 200 workersThe Associated Press · Posted: Jun 05, 2023 11:38 AM EDT | Last Updated: June 5After moving into the podcast space in a big way, Spotify is now laying off staff in that division. (Fabiola Carletti/CBC)Spotify Technology SA said on Monday it would lay off 200 employees in its podcast division, representing about 2 per cent of the audio streamer’s worldwide…

Inflation rate unexpectedly increased in April, jumping up to 4.4%

Posted on June 4, 2023

Canada’s inflation rate reversed its cooling trend last month and moved higher, to a 4.4 per cent annual rate. Economists had been expecting new data released by Statistics Canada on Tuesday to show the cost of living had eased from March’s 4.3 per cent pace to something around 4.1. Instead, it moved higher again, as the cost of things like gasoline, rent and mortgages increased during the month. It’s the first acceleration in the cost of living since June of 2022, when Canada’s inflation rate hit a more than 40-year high of 8.1 per cent.Food prices have been a…

Artificial intelligence threatens extinction, experts say in new warning – Business News

Posted on June 3, 2023

AI an extinction threat? The Associated Press – May 30, 2023 / 6:49 am | Stories: 429253Photo: The Canadian Press OpenAI CEO Sam Altman.Scientists and tech industry leaders issued a new warning Tuesday about the perils that artificial intelligence poses to humankind. “Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war,” said the statement posted online. Sam Altman, CEO of ChatGPT maker OpenAI, and Geoffrey Hinton, a computer scientist known as the godfather of artificial intelligence, were among the hundreds of leading figures who signed…

Canada’s economy grew by more than expected in the first quarter, upping the odds of the rate hike next week

Posted on June 2, 2023

The Canadian economy grew at an annualized rate of 3.1 per cent in the first quarter of 2023, Statistics Canada reported Wednesday. The latest data shows growth beating out the federal agency’s own forecast of 2.5 per cent for the quarter. A preliminary estimate suggests the economy grew by 0.2 per cent in April, after remaining flat in March. The ongoing resilience in the economy will likely spur discussions of a potential rate hike, as the Bank of Canada is expected to make its next interest rate announcement next week. The relatively strong GDP showing investors had increasing the odds…