Photo: The Canadian Press Businesses continue to expect wage and price increases to be larger than normal, but they are shifting to closer to what they were before the pandemic, a new survey by the Bank of Canada suggests. In its business outlook survey released Friday, the central bank said for the first time since…
Tag: business current events
Fake online reviews: US proposes bans
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…
United CEO apologizes for flying private
New York – United CEO Scott Kirby is apologizing to customers and his own employees after taking a private jet during a week when his airline was canceling thousands of flights. The airline confirmed Kirby flew from Teterboro Airport in New Jersey to Denver, Colorado, on Wednesday, and that the company did not pay for…
Retail sales bolster case for Bank of Canada July rate hike
Breadcrumb Trail Links News economy Canadians are still spending despite high inflation and interest rates Published June 21, 2023 • Last updated 6 days ago • 2 minute read Retail sales are on the rise after two months of declines, suggesting Canadians’ spending power remains resilient. Photo by Peter J. Thompson/National Post Article content Sales…
Broadcaster faces backlash for news special to air after Titan sub runs out of oxygen
An upcoming news special on the Titan submersible, which vanished after losing signal days ago, is sparking backlash for its timing while crews continue to search for the vessel at sea. ITN’s “Titanic Sub: Lost at Sea” is scheduled to air on Britain’s Channel 5 on Thursday at 2 pm ET, hours after The Titan…
Instant Brands, maker of Instant Pot and Pyrex cookware, files for bankruptcy
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…
Next community in Nexton to break ground > Charleston Business Journal
By Barry Waldman Contributing Writer The local master planned community named the best in the nation has begun to work on another phase, on the way to 7,500 residences. This new phase of the Nexton communities in Summerville and Berkeley County are expected to add apartments for rent, hotels, office space and 150,000 square feet…
Inflation rate unexpectedly increased in April, jumping up to 4.4%
Canada’s inflation rate reversed its cooling trend last month and moved higher, to a 4.4 per cent annual rate. Economists had been expecting new data released by Statistics Canada on Tuesday to show the cost of living had eased from March’s 4.3 per cent pace to something around 4.1. Instead, it moved higher again, as…