Category: Business News

The fight to tame inflation has only just begun

Inflation is decelerating quickly. It peaked at 8.1 per cent last summer. It fell to 5.9 per cent in January, and the Bank of Canada predicts it will fall to three per cent by the end of this year.

But economists say that’s the easy part.

The Bank of Canada has repeatedly said it’s committed to getting price growth all the way down to two per cent. One of the bank’s deputy governors delivered a speech in Calgary on Feb. 16 titled No Two Ways About it: Why the Bank is Committed to Getting Back to 2%.

“If inflation stays

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Here’s what to know about Hartman’s Bakery reopening, and other Manitowoc business news

A North 11th St. view of Hartman's Bakery, LLC as seen, Wednesday, August 24, 2022, in Manitowoc, Wis.

A North 11th St. view of Hartman’s Bakery, LLC as seen, Wednesday, August 24, 2022, in Manitowoc, Wis.

MANITOWOC – Can’t you almost smell the deliciousness of bread-baking and cake-making wafting from North 11th Street in Manitowoc?

After months of waiting, the iconic Hartman’s Bakery will reopen on March 10.

Perhaps you want to get in line now for what is sure to be a crazy weekend for the bakery, closed after a kitchen fire.

But read Streetwise before you head out the door, of course! Here’s the latest business news from around Manitowoc County.

The long-awaited reopening of Hartman’s

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No more clumpy lip gloss: How TikTok’s ‘deinfluencing’ trend became a marketing tactic

Just a few weeks ago, Lauren Rutherglen’s 10,000 TikTok followers would have expected advice on what beauty products to buy.

But as she rummaged through the creamy Glossier eyeshadows, Ilia serums and Charlotte Tilbury liquid bronzers in her drawer, the Calgary-based content creator was reminded of the expensive but disappointing products that the Internet had convinced her she needed.

So she made a “deinfluencing” video — a TikTok-coined term that describes the rejection of viral, cult-favorite beauty or lifestyle products (typically associated with cultural influencers) in favor of more affordable choices.

“I just wanted to share my opinion on things

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Russian banks say debit cards may stop working due to Western sanctions

Russian banks are warning debit card holders that new sanctions from the US and UK could mean their cards stop working abroad.

Emails from multiple Russian banks urging their customers to withdraw money from accounts linked to UnionPay-branded cards as soon as possible came one day after the US and UK implemented sweeping new sanctions authorizing the rejection of transactions from a list of Russian financial institutions.

UnionPay is a Chinese payment system that some Russian banks were using before the war, and more turned to it after MasterCard and Visa were pulled out of the country following the invasion

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Is Bing too belligerent? Microsoft looks to tame AI chatbot – Business News

Microsoft’s newly revamped Bing search engine can write recipes and songs and quickly explain just about anything it can find on the internet.

But if you cross its artificially intelligent chatbot, it might also insult your appearance, threaten your reputation or compare you

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Indigo creates temporary website for browsing after cyberattack – Business News

Indigo Books & Music Inc. has created a temporary website for its customers to browse for books and gifts after a cyberattack halted the company’s online operations last week.

In a notice posted to the new site Friday titled “shop in store, window-shop online,” the Toronto-based retailer said the temporary website only allows for browsing and it is still

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Boeing Halts Delivery Of 787 Dreamliners

Boeing Co. temporarily stopped deliveries of its 787 Dreamliners as directed by the Federal Aviation Administration, pending an additional analysis on a fuselage component, reports said.

The FAA stated that the company cannot resume deliveries of the plane, which was halted earlier too to a series of manufacturing flaws until the agency is satisfied that the issue has been addressed. However, the aerospace and defense major will continue its production, and the company doesn’t expect the issue to require additional work on the 787s.

Boeing noted that the near-term deliveries will be impacted, but it does not anticipate a change

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Tesla recalling nearly 363,000 vehicles over ‘full self-driving’ software that could lead to crashes

Tesla is recalling 362,758 vehicles because a version of its “full self-driving” software may increase the risk of crashes, according to the National Highway Traffic Safety Administration in response to a notice Tesla sent the agency on Wednesday.

According to the recall document, the FSD’s “beta” release may cause affected Tesla vehicles to act unsafely around intersections. For example, it said, the software may cause the vehicle to travel “straight through an intersection while in a turn-only lane, [enter] a stop sign-controlled intersection without coming to a complete stop, or [proceed] into an intersection during a steady yellow traffic signal

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