Tag: business news report

Why Meta is slashing prices for its VR headsets

META’s VR headsets are getting a big, but inevitable, price cut because consumers aren’t buying as much as expected.

The company today declared It drops the prices of its still-new Meta Quest Pro from $1,499.99 to $999.99, while its Meta Quest 2 drops from $499.99 to $429.99. That’s roughly a 33% drop when MetaQuest Pro was introduced to businesses — and that’s a significant drop from the fanfare it launched with support from Microsoft ( MSFT ) and Accenture ( ACN ). )

Declining consumer interest isn’t a meta-specific problem — the VR market, the games industry at large, saw

…
Read More

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

…
Read More

Excess household savings may help economy avoid harsher downturns: BMO – Business News

Households have savings

The Canadian Press – | Story: 412057

High household savings in Canada and the US may help both countries avoid a severe downturn as high interest rates ripple through the economy.

Although the pandemic savings have diminished significantly,

…
Read More

CIBC agrees to settle Cerberus lawsuit for US$770 million – Business News

CIBC settles for US$770M

The Canadian Press – | Stories: 412161

CIBC says it has entered into an agreement to settle a lawsuit filed against

…
Read More

Is Your Practice Fraudulently Billing?

Most of our clients would obviously answer ‘no’, however, some providers are submitting bills incorrectly and could be subjecting themselves to hefty fines.

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 ).

Recently, a Florida Cardiology group and 10 of its physicians agreed to pay $2 million to settle False Claims Act allegations.

According to the settlement, the group submitted inflated claims to Medicare and Medicaid and billed for services while they were outside of the United States.

Whistleblowers

…
Read More

Bed Bath & Beyond Canada is going out of business, closing 54 stores

Bed Bath & Beyond’s Canadian operations are going out of business, according to a court filing on Friday, two days after the retailer quickly raised cash to stave off a US bankruptcy.

The Canadian division, which operates 54 Bed Bath & Beyond stores and 11 buybuy BABY stores, is insolvent, the filing posted on the consultancy website Alvarez & Marsal showed. Alvarez & Marsal has been appointed as a monitor of the business in the Canadian court case.

The Canadian business does not have the “capacity or ability to independently effect a recapitalization or restructuring of the Canadian operations without

…
Read More

Earls to launch new restaurant banner: Birdies Eats & Drinks – Business News

Vancouver’s Fuller Family is readying to launch in June a new restaurant banner: Birdies Eats & Drinks, with a first location in Burnaby.

Its plan is to soon close its 26-year-old Earls Kitchen + Bar location at 3850 Lougheed Highway in Burnaby, do extensive renovations and reopen the site as its first Birdies restaurant, Earls CEO Stan Fuller told BIV.

The chain will also open in mid-February a new Earls location at the nearby upscale Brentwood Town Centre, which is

…
Read More

Tech stocks extend post-Fed rally, Dow futures lag

US stocks finished mixed Thursday, highlighted by a vault upward by tech stocks following the Federal Reserve’s latest interest rate hike and ahead of another batch of earnings from the industry’s biggest players.

The technology-heavy Nasdaq Composite (^IXIC) soared by more than 3% at the close. The S&P 500 (^GSPC) added 1.5%, while the Dow Jones Industrial Average (^DJI) lagged, dipping 0.1%.

The yield on the benchmark 10-year US Treasury note ticked down to 3.398% Thursday. The dollar index increased 0.5% to $101.70.

The moves continued a Wall Street rally that began Wednesday following the Federal Reserve’s highly anticipated rate

…
Read More