News/Business (Page 19)

Business Canada’s economy contracted more than expected in November, as activity across a majority of sectors shrank due to work stoppages across inland transportation and at ports, Statistics Canada said on Friday. Economists foresee a bounce-back in DecemberThomson Reuters · Posted: Jan 31, 2025 8:57 AM EST | Last Updated:Continue Reading

Business The federal government confirmed on Friday it’s reversing course on increases to the capital gains tax that were announced in the last federal budget after initial reporting from CBC News on Thursday. Liberals walk back tax hikes by deferring increase until after the next federal election The Canada RevenueContinue Reading

Business Canada Mortgage and Housing Corporation says high housing costs are restricting population mobility in the country, as Canadians are finding that it’s too pricey to buy or rent in cities where they seek jobs. Soaring housing costs limiting population mobility across Canada: CMHCSammy Hudes · The Canadian Press ·Continue Reading

Business The American economy ended 2024 on a solid note, with consumer spending continuing to drive growth. GDP grew by 2.8 per cent, compared with 2.9 per cent in 2023. Consumer spending continuing to drive growthPaul Wiseman · The Associated Press · Posted: Jan 30, 2025 9:52 AM EST |Continue Reading

Business Starbucks is planning to cut its food and beverage offerings by 30 per cent over the course of this year to simplify operations and speed up service. Coffee giant also adding digital menus to all U.S. storesThe Associated Press · Posted: Jan 29, 2025 4:38 PM EST | LastContinue Reading

Business Canada’s central bank lowered its interest rate by 25 basis points to three per cent on Wednesday, as the Bank of Canada governor warned there is little he can do to negate the economic impact of U.S. tariffs imposed on Canadian imports. Rate cut comes as U.S. President Donald Trump has threatened toContinue Reading

Business The U.S. Federal Reserve is expected to hold interest rates steady on Wednesday as it awaits further inflation and jobs data and more clarity on the economic impact of President Donald Trump’s policies before deciding whether to cut borrowing costs again. Decision comes hours after Bank of Canada cutContinue Reading

Business The Chinese-made AI chatbot DeepSeek may not always answer some questions about topics that are often censored by Beijing, according to tests run by CBC News and The Associated Press, and is providing different information than its U.S.-owned competitor ChatGPT. Popular chatbot hems and haws about Taiwan and Tiananmen Square Anis Heydari · CBCContinue Reading

Business There’s a new player in AI on the world stage: DeepSeek, a Chinese startup that’s throwing tech valuations into chaos and challenging U.S. dominance in the field with an open-source model that they say they developed for a fraction of the cost of competitors. Shares of Nvidia, whose chips areContinue Reading