As the pandemic business loan repayment deadline looms, calls for extending deadlines grow – Business News
The Canadian Press – Jul 11, 2023 / 9:57 am | Stories: 436296
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New Democrats and a business group are calling on the federal government to extend the deadline for small businesses to repay loans they receive from a pandemic support program.
But an economist is cautioning against the move, saying taxpayers shouldn’t subsidize businesses that are still struggling to pay back the loans more than three years since the pandemic hit.
The Canada Emergency Business Account program provided about 900,000 small businesses and not-for-profits up to $60,000 in interest-free loans during the pandemic.
The deadline…
Irving Oil considers the sale of the company as part of a strategic review
Irving Oil says it has launched a strategic review that will consider, among other things, “a full or partial sale” of the company, one of the largest in New Brunswick.
“A strategic review of the company is underway, and a series of options are being evaluated related to the company’s future,” the Saint John-based company said in a statement.
“No decisions have been made about where this strategic review may lead. Considerations will be given to a new ownership structure, a full or partial sale, or a change in the portfolio of our assets and how we operate them.”
The…
Stellantis EV battery plant could cost Canada $19 billion in subsidies
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The price tag may reach as much as $19 billion over a decade, far exceeding the $13 billion promised to Volkswagen
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Brian Platt and Gabrielle Coppola
Published May 31, 2023 • Last updated 1 day ago • 3 minute read
Prime Justin Trudeau speaks at a Stellantis facility in Windsor, Ont., last year. Photo by Dan Janisse/Windsor Star
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Stellantis NV is likely to receive more in subsidies for a new electric-vehicle battery plant in Canada than the $13 billion Volkswagen AG extracted for a…
Berkshire Hathaway shareholder meeting takeaways: Warren Buffett’s remarks
Warren Buffett, chairman and CEO of Berkshire Hathaway, criticized the government’s intervention in recent bank failures, saying on Saturday it averted what could have become an even bigger crisis.
Yet he said the US banking system had become too complicated — and it was not surprising that the banks failed. He said he’d been selling bank stocks, first at the start of the pandemic and more recently over the past six months as banks increasingly face mismanagement and respond to bad incentives.
“The American public doesn’t understand their banking system — and some people in Congress don’t understand it anymore…
ChatGPT makes its debut as a smartphone app on iPhones – Business News
ChatGPT now on iPhone
Matt O’Brien, The Associated Press – May 18, 2023 / 11:27 am | Story: 427472
Photo: The Canadian Press
FILE – The OpenAI logo is seen on a mobile phone in front of a computer screen displaying output from ChatGPT, March 21, 2023, in Boston. The head of the artificial intelligence company that makes ChatGPT is set to testify to Congress as lawmakers call for new rules to guide the rapid development of AI technology. OpenAI CEO Sam Altman is scheduled to speak at a Senate hearing Tuesday, May 16. (AP Photo/Michael Dwyer, File)
ChatGPT is…
Tupperware could go out of business, here’s why
Tupperware is an American kitchen classic, but the brand recently warned it could soon be out of business.
The reusable containers have been a home cooking staple since 1946 and swept the nation with early trends like Tupperware parties in the ’50s through the ’70s. In recent years, however, they’ve been less popular with younger generations.”
In a regulatory filing earlier this month, Tupperware said it had “substantial doubt about the company’s ability to continue as a going concern.”
“Further,” the company stated in a press release on April 7, “due to the challenging internal and external business economics, coupled…
Oil prices: Brent crude, WTI surge after OPEC producers announce production cuts
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Oil prices spiked Monday after OPEC+ producers unexpectedly announced that they would cut output.
Brent crude, the global benchmark, jumped 5.31% to $84.13 a barrel, while WTI, the US benchmark, rose 5.48% to $79.83. Both were the sharpest price rises in almost a year.
The oil prices sunk as low as $73 and $67 a barrel respectively in the week following the collapse of Silicon Valley Bank in the United States on March 10, as the turmoil spread to the wider banking sector, raising fears of a global recession.
With oil prices now rising, inflation could…
