Bank regulator action on climate change ‘overdue and now urgent’ – Business News
Climate action ‘over due’
The Canadian Press – Apr 21, 2023 / 6:13 am | Stories: 422543
Photo: The Canadian Press
Canada’s environment commissioner says action by the federal banking regulator on climate change is overdue and now urgent.
Commissioner Jerry DeMarco said in an audit released Thursday that it’s encouraging that the Office of the Superintendent of Financial Institutions (OFSI) both recognizes the risks of climate change to banks and the financial system, and is taking action on the challenge.
But he notes that since climate change has only recently become a priority of the regulator, the full implementation…
New Ontario Volkswagen EV battery plant to create 3,000 jobs – Business News
Photo: The Canadian Press
A massive new Volkswagen electric-vehicle battery plant in southwestern Ontario will create up to 3,000 direct jobs and 30,000 indirect jobs in the region.
Prime Minister Justin Trudeau, Ontario Premier Doug Ford and top brass from the German automaker are unveiling details of the new Volkswagen “gigafactory” that will be built in St. Thomas, Ont.
Volkswagen, the world’s largest automaker, will invest $7 billion in the electric-vehicle battery plant, which will be operated by its company, PowerCo.
“We’ve landed the largest auto investment in the province’s history,” said Ontario Economic Development Minister Vic Fedeli.
“It’s not…
‘Park outside’: GM recalls 40,000 pickups to fix fire risk – Business News
Trucks recalled for fire risk
The Canadian Press – Apr 22, 2023 / 9:50 am | Stories: 422776
Photo: The Canadian Press
General Motors is recalling certain Chevrolet Silverado medium-duty trucks for model year 2019 or later, following the discovery of a potential leak in brake fluid that could result in a fire.
Potentially 40,428 vehicles could be affected. They include 4500HD, 5500HD, and 6500HD models with model years between 2019 and 2023, according to documents posted by US safety regulators on Saturday.
The vehicles may have a brake pressure sensor assembly that allows brake fluid to leak and cause…
Coca-Cola entering the fresh fruit category?
REEDLEY, CALIF. — The Coca-Cola Co. has entered into a licensing agreement with Frutura, a supplier of fresh produce, to put two of its brands on fresh citrus. The agreement involves Coca-Cola’s Simply and Minute Maid brands.
The Minute Maid brand will appear on fresh grapes in the United States and fresh citrus and grapes in Japan. The Simply brand, under Simply Select, will appear on fresh citrus in the United States. The products will be distributed by Dayka & Hackett, a subsidiary of Frutura.
“Our company is committed to serving the consumer with superior products at every part of…
Amazon to lay off 9,000 more workers
Amazon will lay off 9,000 more employees, CEO Andy Jassy said in a memo to staff on Monday.
The cuts are on top of the previous layoffs that commenced last November and extended into January. That round affected more than 18,000 employees.
Amazon made the decision to lay off more employees as it looks to streamline costs and take into account the uncertain economy, as well as the “uncertainty that exists in the near future,” Jassy said. The company just wrapped up the second phase of its annual budgeting process, referred to internally as “OP2.”
“The overriding tenet of our…
Canada’s inflation rate falls to lowest level since August 2021, hits 4.3% in March – Business News
Inflation cools to 4.3%
The Canadian Press – Apr 18, 2023 / 5:43 am | Stories: 421877
Photo: The Canadian Press
Signage marks the Statistics Canada offices in Ottawa on July 21, 2010. The federal agency’s latest consumer price index report will provide an update on the pace of price growth in the country. THE CANADIAN PRESS/Sean Kilpatrick
UPDATE 5:42 am
Statistics Canada says the country’s annual inflation rate fell to 4.3 per cent last month, down from 5.2 per cent in February.
That’s the lowest it’s been since August 2021 as global price pressures ease and high interest rates…
The oil and gas sector is routinely targeted by cyberattackers, experts say – Business News
Oil & gas cyberattacks
The Canadian Press – Apr 10, 2023 / 4:00 pm | Story: 420603
Photo: The Canadian Press
Pipes are seen at a natural gas plant outside of Fort St. John, BC, October 11, 2018. Cybersecurity experts say they aren’t surprised by the revelation contained within a package of leaked US intelligence documents that suggests Russian hackers successfully gained access to Canada’s natural gas distribution network. THE CANADIAN PRESS Jonathan Hayward
Cybersecurity experts say they aren’t surprised by the revelations contained within a package of leaked US intelligence documents suggesting Russian-backed hackers successfully gained access to Canada’s…
NPR quits Elon Musk’s Twitter over ‘government-funded’ label – Business News
Photo: The Canadian Press
National Public Radio is quitting Twitter after the social media platform owned by Elon Musk stamped NPR’s main account with labels the news organization says undermine its credibility.
Twitter labeled NPR’s main account last week as “state-affiliated media,” a label also used to identify media outlets that are controlled or heavily influenced by authoritarian governments, such as Russia and China. Twitter later changed the label to “government-funded media” and gave it to a few other organizations, such as the Public Broadcasting Service in the US and the British Broadcasting Corporation in the UK
NPR said in…
