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95,000 GM vehicles unfinished in storage due to chip shortage

General Motors Results

The global shortage of computer chips and other parts has forced General Motors (GMC) to build 95,000 vehicles without certain components during the second quarter.

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Canada’s economy grew in April, but May contraction expected

Cda Oil Prices 20200103

The Canadian economy expanded by 0.3 per cent in April, Statistics Canada said Thursday, but warned of indications for a contraction in May.

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Do unions at Starbucks mean the labour movement is picking up steam?

Unionized Starbucks workers in Victoria, BC

A growing effort to unionize Starbucks cafes in the U.S. and Canada as well as Amazon warehouses, Apple stores, and Indigo book shops has union leaders and experts wondering if this the start of a shift in labour movement after decades of decline in the private sector.

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Air Canada to make ‘meaningful reductions’ to summer flights

Air Canada flight taxies on the tarmac in Montreal in May 2022

Air Canada says it’s making “meaningful reductions” to its scheduled flights in July and August, in response to a series of challenges the wider airline industry is facing amid soaring demand for travel.

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Air Canada to make ‘meaningful reductions’ to summer flight schedule

Air Canada flight taxies on the tarmac in Montreal in May 2022

Air Canada will cut dozens of daily flights this summer as the airline grapples with a series of challenges that the wider aviation industry is dealing with amid soaring demand for travel.

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Summer of labour unrest expected as inflation soars and contracts run out

MTL Casino Strike 20220521

Canada could face a summer of strikes and other labour disruptions as workers demand cost-of-living increases and better conditions than those seen throughout the past two years of the pandemic, say union officials and other observers. 

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U.S. communications regulator wants TikTok removed from app stores over spying concerns

USA-TIKTOK/BYTEDANCE

A commissioner with the U.S. communications regulator is asking Apple and Google to consider banning TikTok from their app stores over data security concerns related to the Chinese-owned company.

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Airbnb makes ban on party houses permanent

Airbnb

Airbnb is making permanent its ban on parties at homes listed on the site for short-term rentals.

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Accounting firm EY to pay $100M US fine after auditors caught cheating on exams

UK EY

Big Four accounting firm Ernst & Young will pay $100 million to settle U.S. Securities and Exchange Commission charges that its auditors cheated on certified public accounting exams and that it misled the agency’s investigators.

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Bank regulator beefs up rules for some types of home loans

Housing real estate mortgage sign

The Office of the Superintendent of Financial Institutions is implementing new guidelines for certain types of real estate loans, including shared equity mortgages, reverse mortgages and conventional mortgages that are paired with home equity lines of credit.

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We’re still waiting for this wage price spiral central bankers fear could send inflation soaring

Kid in a Toronto playground (unidentifiable but dad's permission obtained)

Like a nuclear chain reaction, economic theory warns us that rising wages can reinforce rising prices, pushing wages even higher, all in an endless cycle. Is it just around the corner? Or are things different this time?

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Missing baggage adds to chaos at Canadian airports

Pearson baggage delays

As airlines and the federal government race to address long lines and delays at airports, some travellers are pointing out another major problem — missing luggage.

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Russia may have just defaulted on its foreign debt for 1st time since 1917

Russian 1000 ruble currency banknotes

Russia is poised to default on its foreign debt for the first time since the Bolshevik Revolution more than a century ago, further alienating the country from the global financial system following sanctions imposed over its war in Ukraine.

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Parents, caregivers face new juggling act as employers evaluate work-from-home policies

Amy McQuaid-England working at home with her children in the same room

The ability to keep a close eye on loved ones has been important to many people who have been juggling their family and employment responsibilities in the same space over the course of the pandemic.

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