Category: Business News

Meta working on a decentralized social media app: Moneycontrol

Meta Platforms, the parent company of Facebook and Instagram, is exploring a decentralized text-based Twitter alternative, business news site Moneycontrol reported on Friday.

See related articles: Meta’s metaverse division Reality Labs posts wider loss of $13.7 billion in 2022

Fast facts

  • According to Meta documents reviewed by Moneycontrol, the decentralized social media app, coined P92, will allow users to log in using credentials from their Instagram accounts. The app is reportedly under development.

  • A report by Platformer claimed that Instagram head Adam Mosseri would oversee the project, with Meta’s legal department investigating early privacy concerns.

  • In a separate report, a

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Global race to boost electric vehicle range in cold weather – Business News

Tom Krisher And Mark Thiessen, The Associated Press – | Stories: 414415

Alaska’s rugged and frigid interior, where it can get as cold as -46 C, is not the place you’d expect to find an electric school bus.

But here is Bus No. 50, with a cartoon horse decal on its side, quietly traversing about 40 miles of snowy and icy roads each day in Tok, shuttling students to school not far from the Canadian border.

It works OK on the daily route. But cold temperatures rob electric vehicle batteries

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Stocks rally as Salesforce’s 11% gain lifts Dow while S&P, Nasdaq reverse early losses

Stocks rallied on Thursday with the Dow leading markets higher as a result from Salesforce (CRM) lifted the index, and the S&P 500 and Nasdaq shook off early losses to finish on the green.

At the close on Thursday, the S&P 500 was up 0.76%, the Nasdaq higher by 0.73%, and the blue chip Dow up 1.05%.

Rates remained a key focus for investors, with the yield on the 10-year Treasury note settling north of 4%, its highest level since November.

The rise in yields has come as investors brace for more aggressive action from the Federal Reserve in the

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What is the Cost of a Data Breach?

A recent study found that the total average cost of a healthcare breach is $10.10 million. Can your healthcare practice afford a breach?

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 ).

Can your healthcare practice afford a breach? Most healthcare entities cannot.

Since 2020, healthcare breach costs have risen by 42%.

As we know healthcare breaches are incessant, it is important to understand trends.

The trends that have emerged over the past few years are:

  1. Repeat attacks
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11 states tax Social Security benefits. Do you live in one?

Just because you paid a payroll tax during your working years to fund Social Security doesn’t mean you’re done once you retire.

Retirees may know that they will pay federal taxes on their social security benefits if their total income exceeds certain amounts. But few of them may realize that some states will also try to take a cut. Social Security benefits include monthly retirement, survivor and disability benefits.

The good news is fewer than a dozen states tax social security benefits, so chances are good you won’t get hit. While each state has different rules on what or how

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Business insolvencies up 55% in January compared to 2022

Business insolvencies in January were 55.4 per cent higher than last year, according to new data by the Office of the Superintendent of Bankruptcy.

The federal insolvency regulator on March 1 released its January 2023 statistics on insolvency in Canada, reporting an annual increase of 33.7 per cent in combined business and consumer insolvencies over the same month in 2022.

Consumer insolvencies were up 33 per cent in the same period, it said.

Compared to the previous month, the total number of insolvencies in Canada, including bankruptcies and proposals, was 13.5 per

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Nordstrom closing down in Canada, shuttering all 13 stores

Nordstrom Inc. says it is winding down its Canadian operations and closing all 13 of its stores in the country.

The company filed for protection from its creditors this week under the Companies’ Creditors Arrangement Act, a Canadian law that manages the orderly wind-down of businesses. CCAA is convinced to what’s known as “Chapter 11 bankruptcy” in the United States, and it is intended to enforce rules to ensure as many funds as possible get collected, to pay back creditors as equitably as possible

Nordstrom launched in Canada in 2014. The chain has six Nordstrom stores and seven Nordstrom Rack

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Bay Street Likely To Open Lower

Canadian shares are likely to open on a negative note on Monday, tracking lower crude oil prices and sluggish metal futures.

China setting a modest growth target of around 5% for this year, down from last year’s target of 5.5%, is likely to weigh on sentiment.

Cargojet Inc. (CJT.TO) reported fourth-quarter net income of $2.6 million (net income of $14.1 million excluding warrant valuation loss) compared to net gain of $102.0 million in 2021 (net income of $33.4 million excluding warrant valuation gain).

On the economic front, the Ivey Purchasing Managers Index score for the month of February is due

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