Category Finance

Meta (META) Threads is live, and it’s already drawing millions of users, posing the biggest threat to Elon Musk’s Twitter yet. Meta CEO Mark Zuckerberg fired up his Twitter competitor on Wednesday and a day later said 30 million users had signed up for the service. Threads pose a unique challenge to Twitter. The platform, like other Twitter clones, has a similar setup to Musk’s social network. On Threads you can post text, images, and short videos, as well as like, reply, comment, and share posts by other users. Zuckerberg seems acknowledged the similarities, posting the meme of Spider-Man pointing…

July 5 (Reuters) – Canada’s financial watchdog on Wednesday released new guidelines for lenders aimed at protecting mortgage holders facing high borrowing costs or who are at the risk of defaulting. The Financial Consumer Agency of Canada (FCAC) said federally regulated financial institutions, including banks, must work to help at-risk consumers by “providing tailored support” that could include measures such as waving penalties or other costs. The FCAC said two-thirds of mortgage holders are having trouble meeting their financial commitments. Canadians are facing the burden of high interest rates forcing them to either increase their monthly contribution or extend their…

Breadcrumb Trail Links News Investors Finance UK utility fiasco plunges OMERS and BCI into the midst of a potential rescue plan Get the latest from Barbara Shecter straight to your inbox Signup Published July 06, 2023 • Last updated 5 days ago • 3 minute read The UK government has expressed serious concern about the financial plight of the country’s biggest privatized water company. Photo by BEN STANSALL/AFP via Getty Images Article content A troubled water utility company in the United Kingdom that counts two of Canada’s biggest public pensions as large shareholders is facing regulatory scrutiny and fines for…

Stocks ended Wednesday’s session lower as traders returning from the Independence Day broke eyed headwinds for the global economy and combed through the release of the Federal Reserve’s minutes from its June meeting. The S&P 500 (^GSPC) finished down 0.2%, while the Dow Jones Industrial Average (^DJI) slipped by around 0.3% or about 100 points. The tech-heavy Nasdaq Composite (^IXIC) fell 0.1%. A surprisingly sharp fall in Chinese services activity stoked concerns about the health of the world’s second-biggest economy, against a backdrop of building tensions in the US-China trade war. The minutes from the Fed’s June meeting showed that…

Breadcrumb Trail Links Work News Base pay would go from $101,561 to $131,766 Author of the article: The Canadian Press Patrice Bergeron Published May 15, 2023 • 2 minute read Quebec Premier Francois Legault responds to reporters’ questions at a news conference before the question period at the legislature in Quebec City, Tuesday, May 9, 2023. Photo by Jacques Boissinot/The Canadian Press Article content SHERBROOKE, Que. — Courage was necessary to move forward on raising the salaries of provincial politicians by $30,000, Quebec Premier Francois Legault said on May 13 as unions demonstrated outside his party’s convention to demand a…

The current global pandemic has had an impact on all of our lives in some way and will inevitably influence the evolving shape of business travel as we look forward to being able to travel more freely in the not too distant future. There is no doubt that your business will now have lots more to consider as your employees start to hit the road again and it’s crucial that as you start to look at travel again, you ask the right questions within your tender to make sure your new supplier can fully support you in these uncertain times.…

Target (TGT) has become a target for major thefts, and it’s taking a huge chunk out of profits. The retailer estimated in its earnings release Wednesday that inventory shrinkage — mostly the theft of merchandise — would clip profits by a whopping $500 million this year. Factoring in an about $700 million profit hit from inventory shrinkage in 2022, the Target is on pace to see $1.2 billion in profits go up in smoke, due primarily to organized retail crime. Target Chairman and CEO Brian Cornell says the problem is getting worse, is nationwide, and across various merchandise departments. “The…

Overall food prices increased 8.3 per cent in April, according to Statistics Canada. (Lance McMillan/Toronto Star via Getty Images) Food prices in Canada remained elevated in April, even as price growth slowed in restaurants and grocery stores. According to Statistics Canada’s latest Consumer Price Index (CPI) report, food prices, which include groceries and food from restaurants, increased 8.3 per cent in April. That’s down from the 8.9 per cent year-over-year increase posted in March. Restaurant prices increased 6.4 per cent, a slowdown from the 7.2 per cent increase in March. The price of food purchased from grocery stores increased 9.1…