Air Canada briefly grounds flights due to computer system problem – Business News
Glitch grounds flights
The Canadian Press – May 25, 2023 / 11:06 am | Stories: 428570
Photo: The Canadian Press
Air Canada planes sit on the tarmac at Pearson International Airport in Toronto on Wednesday, April 8, 2020. THE CANADIAN PRESS/Nathan Denette
Air Canada briefly grounded its planes Thursday due to a problem with its computer system.
The airline says a technical issue with the system it uses to transmit messages to aircraft and monitor their performance, prompted a halt to operations.
Airline spokesman Peter Fitzpatrick said the temporary order was precautionary, and that the system is returning to normal.…
The Bank of Canada is more worried than usual about debt loads
The Bank of Canada is more worried than it was last year about household debt loads, and is concerned about the abilities for households to stay on top of them in the coming years once mortgages renew at higher rates.
That’s one of the main takeaways of the bank’s Financial System Review, an annual assessment of various risks the bank desires to be of concern to the stability of Canada’s financial system.
While the bank highlighted the risks of cybersecurity attacks, the ongoing global banking crisis and climate change, the risk presented by growing mortgage debt was a recurring theme…
Elizabeth Holmes went to Burning Man, torched an effigy for Theranos, then spent 6 months living in an RV while prosecutors built a case against her for fraudulent business practices
Former Theranos CEO Elizabeth Holmes on November 18, 2022 in San Jose, California.Justin Sullivan/Getty Images
In her first interview since 2016, Elizabeth Holmes told NYT her perspective on her fraudulent business.
Once the company dissolved, she burned an effort for Theranos, then lived in an RV for six months.
The former CEO said she experienced “an incredible sense of grief” over her business failings.
You became the world’s youngest self-made female billionaire based on your fraudulent blood-testing business venture, only to have your house of cards collapse. You are facing prison. What do you do?
You go to Burning Man.…
SpaceX giant rocket explodes minutes after launch from Texas – Business News
Photo: The Canadian Press
SpaceX’s Starship breaks up after its launch from Starbase in Boca Chica, Texas, Thursday, April 20, 2023. SpaceX’s giant new rocket exploded minutes after blasting off on its first test flight and crashed into the Gulf of Mexico. (AP Photo/Eric Gay)
SpaceX’s giant new rocket exploded minutes after blasting off on its first test flight Thursday and crashed into the Gulf of Mexico.
Elon Musk’s company was aiming to send the biggest and most powerful rocket ever built on a round-the-world trip from the southern tip of Texas, near the Mexican border. The nearly 400-foot (120-meter)…
Twitter pulls check mark from main New York Times account – Business News
Photo: The Canadian Press
FILE – The Twitter application is seen on a digital device, April 25, 2022, in San Diego. Twitter has removed the verification check mark on the main account of The New York Times, one of CEO Elon Musk’s most despised news organizations. The removal comes as many of Twitter’s high-profile users are bracing for the loss of the blue check marks that help verify their identity and distinguish them from imposters on the social media platform. (AP Photo/Gregory Bull, Files)
Twitter has removed the verification check mark on the main account of The New York Times,…
Budget 2023 to detail crackdown on consumer ‘junk fees’ – Business News
Crackdown on ‘junk fees’
The Canadian Press – March 23, 2023 / 6:36 am | Stories: 417520
Photo: The Canadian Press
A federal source saying the coming budget will detail how the Liberals plan to go after hidden or unexpected consumer fees, following the United States announcing its own crackdown on these charges.
Often referred to as “junk fees,” they can include those tacked on to the initial price of a product or service that hides, and inflates, the total cost.
The government official, who was granted anonymity to discuss matters not yet public in next week’s budget, says the…
Big banks create $30B rescue package for First Republic – Business News
Photo: The Canadian Press
The hours of operation and the FDIC Insured status is on display at the front door of a First Republic Bank in the Financial District of Manhattan, Thursday, March 16, 2023. The S&P 500 was 0.8% higher in midday trading after erasing an earlier loss of nearly that much following reports that First Republic Bank could receive financial assistance or sell itself to another bank. (AP Photo/Mary Altaffer)
Eleven of the biggest banks in the country announced a $30 billion rescue package for First Republic Bank on Thursday, in an effort to prevent the California-based bank…
Pornhub owner MindGeek bought by private equity firm
An Ottawa-based private equity firm is buying MindGeek, the company behind the popular but controversial online pornography website Pornhub.
The terms of the purchase by Ethical Capital Partners are not being publicly disclosed.
MindGeek, which was founded in Montreal in 2004 and is now headquartered in Luxembourg, includes a large portfolio of adult entertainment properties.
It has been the subject of several high-profile lawsuits in recent years, in light of media reports alleging that Pornhub published sexually exploitative videos. The site deleted millions of explicit videos in response to the scrutiny.
One California lawsuit representing 50 women, including several Canadians,…
