Category: Business News

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

Glitch grounds flights

The Canadian Press – | Stories: 428570

Air 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.

…
Read More

CPP Investments reports 1.3% return for latest fiscal year – Business News

CPP investments earn 1.3%

The Canadian Press – | Stories: 428311

The Canada Pension Plan Investment Board earned a net return of 1.3 per cent in its most recent fiscal year as inflation and rising interest rates weighed on both stock and fixed-income markets.

The board says the investment gains combined with net transfers from the Canada Pension Plan brought its net assets to $570 billion on March 31, up from $539 billion a year earlier.

CPP Investments says the increase included $8 billion in net income and $23 billion

…
Read More

Are You Prepared for an Audit?

The Federal Government is constantly auditing healthcare entities. A recent Michigan settlement resulted in prison time and a hefty repayment for violations of the False Claims Act.

We can help you stay on top of the latest news that affects your everyday life. Subscribe to stay up to date. (To subscribe to our blog ).

If your compliance plan needs to be updated, now is the time.

You want to make sure that your practice is protected so that you are not faced with a similar situation as a vascular surgeon from Bay City, Michigan.

A vascular surgeon …

Read More

Morning Business Report: There is a new debt ceiling agreement, now lawmakers must decide if they support it – 41NBC News

A deal proposed to lift the federal debt limit would have only a small cooling effect on the US economy and high inflation, according to economists. It does little to reduce government spending that grew rapidly during the Covid-19 pandemic and its aftermath. There’s one particular component of the deal that could ding the economy this fall. Student loan repayments and interest accruals will restart by the end of August.

The Denver Nuggets are in the NBA finals for the first time in franchise history. The Denver Nuggets will face off with the Miami Meat for the NBA championship. The

…
Read More

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

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

…
Read More

Profits dipped as BMO and Scotiabank set aside hundreds of millions to cover bad loans

Two of Canada’s biggest lenders revealed quarterly earnings on Wednesday that suggest a gloomier outlook for Canada’s economy, with sharply lower profits and a large jump in the amount of money they’re setting aside to cover bad loans.

Bank of Montreal and Scotiabank posted quarterly results before stock markets opened on Wednesday, and while the exact numbers differed, they shared some worrisome themes.

Scotiabank said it made a profit of just over $2.1 billion in the three months until the end of April, a decline of 21 per cent from the $2.7 billion it earned the same time last year.

…
Read More

Memorial Day Business Report: How Microsoft believes AI will help employees – 41NBC News

Alongside the crush of data, information, and always-on communications the pace of work has increased exponentially. Employees are struggling to shoulder the weight of it all. Meanwhile, business leaders feel pressure to increase productivity amid economic uncertainty. People spend more and more of their days separating the signal from the noise, and it’s coming at the cost of creativity. Microsoft believes that AI may be the solution.

In a new report from Microsoft, the CEO Satya Nadella says that the new generation of AI will remove the drudgery of work and unleash creativity. Microsoft surveyed 31,000 people in 31 countries

…
Read More

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

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

…
Read More