world business news

Uh-oh. More good news that may be bad for your economic health

At first glance, the response of “sold over asking” real estate signs may seem like an encouraging signal for the Canadian economy, especially for highly invested homeowners who have watched prices fall from last year’s highs. But a growing number of economists worry that a recent series of indicators, the latest being Wednesday’s rise in […]

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Instant Brands, makers of Instant Pot and Pyrex, files for bankruptcy

Instant Brands, the maker of Pyrex kitchenware, filed for bankruptcy on Monday, saying it had too much debt to withstand rising interest rates and tighter credit conditions. The company, controlled by private equity firm Cornell Capital LLC, and 14 affiliates filed for Chapter 11 protection from creditors with the federal bankruptcy court in southern Texas,

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Mass event will let hackers test limits of AI technology – Business News

Photo: The Canadian Press Rumman Chowdhury, co-founder of Humane Intelligence, a nonprofit developing accountable AI systems. No sooner did ChatGPT get unleashed than hackers started “jailbreaking” the artificial intelligence chatbot — trying to override its safeguards so it could blur out something unhinged or obscene. But now its maker, OpenAI, and other major AI providers

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US inflation rate cools to 4.9% but consumer prices are still stubbornly high

Consumer prices in the United States rose again in April, and measures of underlying inflation stayed high, suggesting that rising costs could persist for months to come. Prices rose 0.4 per cent from March to April, the government said Wednesday, up from 0.1 per cent from February to March. Compared with a year earlier, prices

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BuzzFeed News to be shuttered in corporate cost cutting move – Business News

Photo: The Canadian Press FILE – The entrance to BuzzFeed in New York was seen on Nov. 19, 2020. Pulitzer prize winning digital media company BuzzFeed is cutting about 15% of its staff, according to multiple media reports. In a memo sent to staff, co-founder and CEO Jonah Peretti said that the New York company

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Grocery’s power imbalance has politicians, shoppers questioning rising prices – Business News

Photo: The Canadian Press The flyer for the Victory Meat & Produce Market, a small grocer in New Brunswick, recently featured fresh local turkey for $3.99 a pound, two bags of carrots or onions for $4 and a bunch of celery for $2.29 — prices that rival its national competitors. For 81 years, the independent

Grocery’s power imbalance has politicians, shoppers questioning rising prices – Business News Read More »

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