Category: Business News

Air Canada briefly grounds flights due to computer system problem – Business News

Posted on May 31, 2023
Glitch grounds flights The Canadian Press – May 25, 2023 / 11:06 am | Stories: 428570Photo: The Canadian Press Air Canada planes sit on the tarmac at Pearson International Airport in Toronto on Wednesday, April 8, 2020. THE CANADIAN PRESS/Nathan DenetteAir Canada briefly grounded its planes Thursday due to a problem with its computer system. The airline says a technical issue with the system it uses to transmit messages to aircraft and monitor their performance, prompted a halt to operations. Airline spokesman Peter Fitzpatrick said the temporary order was precautionary, and that the system is returning to normal.…

AbCellera draws $300 million in government funding – Business News

Posted on May 30, 2023
Photo: Nelson Bennett. Francois-Philippe Champagne, Canadian minister of Innovation, Science and Industry, was in Vancouver Wednesday announcing $225 million in federal funding for AbCellera.Federal and provincial officials announced $300 million in funding today for the new $700 million biotech campus built by AbCellera (Nasdaq:ABCL )in Mount Pleasant. AbCellera has emerged as one of BC’s most successful biotech companies. The company’s prospects are worried during the COVID-19 pandemic because it makes the therapeutic antibodies used in the development of drugs used to treat COVID-19. Its antibodies have been used to treat more than 2.5 million patients. The company landed a…

Netflix to start charging US customers an extra $8 for sharing accounts outside the house

Posted on May 29, 2023
Netflix on Tuesday outlines how it intends to crack down on the rampant sharing of account passwords in the US, its latest bid to reel in more subscribers to its video streaming service amid a slowdown in growth. In an email to its 70 million US customers on Tuesday, Netflix said it would limit viewing of its programming to people living in the same household. Those who subscribe to Netflix’s standard or premium plans — which cost $15.50 US to $20 US per month — will be able to allow another person living outside their household to use their password…

Households now owe more than Canada’s entire GDP, the housing agency warns

Posted on May 28, 2023
Canadian households are more in debt than those in any other G7 country, and the amount they owe is now more than the value of the country’s entire economy. That was one of the main takeaways of a new report from Canada’s housing agency, the Canada Mortgage and Housing Corporation, which backstops much of the country’s housing market via mortgage insurance. In a report published Tuesday, the CMHC’s deputy chief economist Aled ab Iorwerth said Canada’s economy is more at risk to whatever crises may arise because of how much debt Canadian households have racked up. “Canada’s very high levels…

Prices for some Blue Jays season tickets are doubling. No, fans are not happy

Posted on May 27, 2023
The Toronto Blue Jays may be tied at the bottom of the AL East standings, but that’s not the only reason some fans are upset. After an April email was sent out to season ticket holders on the next phase of the $300-million renovation of Rogers Centre, some longtime Jays fans were dismayed to realize their coveted seats in the lower bowl will no longer exist, and that they face a steep price increases if they want to continue to be season ticket holders and select new seats. Some fans relayed to media outlets that they were told new seats…

FAA orders grounding of all Air Canada and Rouge flights in US lifted

Posted on May 26, 2023
A brief ground stop order for all Air Canada and Rouge flights in the US due to an unspecified computer issue has been lifted. A little after 11 am ET on Thursday, the US Federal Aviation Administration (FAA) ordered what’s known as a “ground stop” to all of the airline’s destinations in the US due to unspecified “internal computer issues.” According to the FAA, the order came at the request of the airline. Peter Fitzpatrick, a spokesperson for the airline, confirmed that the FAA directive was lifted after about an hour, and that all systems are returning to normal. “Air…

Google, Meta executives push back against Canada online news bill

Posted on May 24, 2023
[1/2] A Google logo is displayed at the entrance to the internet based company’s offices in Toronto, Ontario, Canada September 9, 2018. REUTERS/Chris HelgrenTORONTO, May 3 (Reuters) – Google and Meta would withdraw access to news articles in Canada if legislation compelling internet companies to pay news publishers is passed, company executives told Canadian lawmakers on Wednesday. Canada’s proposed legislation would force platforms like Google parent Alphabet Inc (GOOGL.O) and Facebook parent Meta Platforms Inc (META.O) to negotiate commercial deals and pay Canadian news publishers for their content, part of a broader global trend to make tech firms pay…

Prices, digital growth benefits Walmart

Posted on May 23, 2023
BENTONVILLE, ARK. — Lower prices compared to competitors and convenience brought about through digital capabilities lifted Walmart US to same-store sales growth of 7% in the first quarter ended April 30. The growth was due to higher store traffic trends as well as growth in store-fulfilled pickup and delivery, said John D. Rainey, chief financial officer, in a May 18 earnings call. “From a category perspective, comp sales were driven by strong growth in food and health and wellness, partially offset by a decline in general merchandise sales,” he said. E-commerce sales increased 27% in the United States when compared…