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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 Canadian retail sales, may instead be a red flag for central bankers, leading them to more rate hikes that could ultimately make many Canadians feel miserable.

With each new smidgen of optimistic data, money market traders point to a rising chance that central bankers will

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, with as much as US$1 billion of assets and liabilities.

Instant Brands said it plans to keep operating while it restructures, and toward that end has lined up US$132.5 million in financing. Entities located outside the United States and Canada are not seeking court protection.

Salary in Canada: Should you discuss your pay?

When was the last time somebody asked you, “How much do you make?”

If you’re like many Canadians, the question may have taken you back, especially if the individual wasn’t a close friend or family member.

Is there ever a good time to discuss your salary, though?

Below, I’ll outline some basic salary disclosure etiquette, explain some cultural differences I’ve noticed in my travels, and go over the pros and cons of discussing your salary with coworkers.

IS IT RUDE TO ASK ABOUT SALARIES?

With current high inflation rates and the recent federal minimum wage increasing to $16.65, it’s likely

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

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 such as Google and Microsoft, are coordinating with the Biden administration to let thousands of hackers take a shot at testing the limits of their technology.

Some of the things they’ll be looking to find: How can chatbots be manipulated to cause harm? Will they

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 rose 4.9 per cent, down slightly from March’s year-over-year increase.

The nation’s inflation rate has steadily cooled since peaking at 9.1 per cent last June, but remains far above the Federal Reserve’s two per cent target rate.

The Fed is paying particular attention to so-called

Onex shareholders approve the plan to replace Gerry Schwartz as CEO

business

Shareholders of Onex Corp. have approved a change to its multiple-voting shares that will allow Gerry Schwartz to retain voting control of the company for another three years even as he officially steps down as chief executive.

Schwartz will maintain voting control of the company he has led for 40 years until at least 2026

Gerry Schwartz is shown at the AGM of Onex standing at a podium.
Gerry Schwartz is the only CEO in the history of Onex Corp. (Nathan Denette/Canadian Press)

Shareholders of Onex Corp. have approved a change to its multiple-voting shares that

Kraft Heinz boosted by foodservice, emerging markets

PITTSBURGH — Even as consumers shifted buying behaviors because of higher costs, Kraft Heinz Co. managed to generate higher sales and profits in the first quarter while raising its earnings guidance for the year.

Carlos A. Abrams-Rivera, executive vice president and president of North America, said the company had anticipated a move by lower-income consumers to value retailers.

“There have been some channel shifts, which we expected,” Mr. Abrams-Rivera said May 3 in a call with investment analysts. “And for the lower-income consumers, this means kind of moving to more value-focused retailers or into dollar channels. Now for high-income consumers,

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

Pulitzer Prize winning digital media outlet BuzzFeed News is being shut down as part of

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