Tag: business news stocks

Fake online reviews: US proposes bans

Posted on July 6, 2023
WASHINGTON – US federal regulators are looking to crack down on fake reviews and other deceptive internet practices. The Federal Trade Commission proposed a new rule Friday that would ban paying for reviews, suppressing honest reviews, selling fake social media engagement and more. Businesses would also be prohibited from running company-controlled websites that claim to be independent, and other deceptive practices like “review hijacking,” which makes reviews for one product appear like they were written for significantly different ones. If the proposed rule is approved, following a 60-day public comment period, violators could face hefty penalties. “Our proposed rule on…

Business travel for Indonesians to Australia will be made easier in a deal between national leaders

Posted on July 4, 2023
CANBERRA, Australia (AP) — Business travel for Indonesians to Australia will be made easier in a bid to boost the… CANBERRA, Australia (AP) — Business travel for Indonesians to Australia will be made easier in a bid to boost the economic partnership between the two countries following a deal struck on Tuesday between their leaders. Australian Prime Minister Anthony Albanese and Indonesian President Joko Widodo agreed on visa changes, climate initiative funding and education partnerships during talks at Sydney’s Taronga Zoo. Albanese announced that Indonesians will be able to access extended business visas for Australia, increasing from three to five…

Study suggests Canadians lack trust in brands’ sustainability claims – Business News

Posted on June 29, 2023
Photo: The Canadian Press While most consumers believe in rewarding companies that accurately deliver on sustainability promises, a new study suggests their trust is lacking in the “green” claims made by brands. The report released Thursday by Deloitte Canada on creating value from sustainable products said Canadians expect sustainable buying options and crave transparency with respect to the claims brands make. It found that in September 2021, nearly half of Canadian consumers had purchased at least one sustainably produced good or service in the previous four weeks. But by March 2023, that figure had declined to 37 per cent. While…

Instant Brands, maker of Instant Pot and Pyrex cookware, files for bankruptcy

Posted on June 20, 2023
The company that makes kitchen staples like CorningWare, Pyrex and the Instant Pot has entered bankruptcy proceedings in the US and Canada. Illinois-based Instant Brands said Monday that it has “initiated a voluntary court-supervised Chapter 11 process,” due to an unmanageable debt load. “Tightening of credit terms and higher interest rates impacted our liquidity levels and made our capital structure unsustainable,” CEO Ben Gadbois said in a news release. In court filings, the company says it generated operating cash flows of just $17.9 million US in the first three months of the year. That relatively large figure is a sharp…

How student loans keep some people trapped in debt

Posted on June 19, 2023
When Samuel Bonne received $15,000 in student grants to fund his studies, he wasn’t expecting to have to pay it back. But just two years later — in the middle of the pandemic — those grants were converted to loans. At the end of his sophomore year at the University of Toronto, the Ontario Student Assistance Program (OSAP) asked Bonne, originally from Mauritius, for his parents’ financial documents, but they couldn’t provide them. “My dad works in Kenya and my mom doesn’t work,” said Bonne. “So I ended up having $15,000 in loans that I did not know about.” Bonne,…

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: 429253 Photo: 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…

Man allegedly shot in head at local Clark Co. bar, reports say

Posted on April 29, 2023
A man was reportedly shot in the head at a local business in Clark County overnight Saturday, according to the initial emergency call. TRENDING: Man who stuffed 10-month-old baby into backpack, left her in car, sentenced to life in prison The Clark County Sheriff’s Office and Springfield Police responded to 2288 South Yellow Springs Street, the location of Wayside Tavern, at around 1:39 am on reports of a shooting. The initial 911 call reportedly stated that the man was shot in the head, dispatchers told responding Springfield police over emergency scanners. The man was “still breathing;” however, it was “unknown…