Business

Two of Canada’s biggest lenders revealed quarterly earnings on Wednesday that suggest a gloomier outlook for Canada’s economy, with sharply lower profits and a large jump in the amount of money they’re setting aside to cover bad loans.  Both banks raise quarterly dividend payout despite lower profits. Two of Canada’s …

Facebook parent company Meta was hit with a record 1.2 billion euro ($1.75 billion Cdn) fine by Ireland’s privacy regulator over its handling of user information and given five months to stop transferring users’ data to the United States.  Regulator has fined Facebook parent company more than any other tech …

Netflix on Tuesday outlined how it intends to crack down on the rampant sharing of account passwords in the U.S., its latest bid to reel in more subscribers to its video streaming service amid a slowdown in growth.  Company proceeding cautiously after rolling out changes in Canada and elsewhere. Netflix …

The Netflix logo at the Netflix Tudum Theater in Los Angeles, California, on September 14, 2022. Netflix on May 23, 2023, expanded its crackdown on users sharing passwords with people beyond their immediate family as it seeks to shore up revenue at the leading streaming television service. “A Netflix account …

CRY FOUL A view of a building where the facilities of US semiconductor giant Micron is located in Shanghai on Monday, May 22, 2023. The US reacted to a decision of China on Monday telling operators of ‘critical information infrastructure’ to stop buying Micron products. AFP PHOTO WASHINGTON, D.C.: The …

HOPEFUL A currency trader works near the screens showing the foreign exchange rates in Seoul, South Korea on Monday, May 22, 2023. Stock markets around the world rose slightly on Tuesday with hopes the US will avoid defaulting on its debt. AP PHOTO HONG KONG: Optimism that the United States …

MIXED A currency trader walks near the screen showing the foreign exchange rate between US dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea on Monday, May 22, 2023. Asian shares mostly drifted higher Monday as investors fretted whether the United States government would …

First Citizens BancShares Inc, which acquired Silicon Valley Bank following its collapse, sued HSBC Holdings PLC on Monday, accusing it of illegally poaching more than 40 of the failed bank’s employees.  First Citizens seeking more than $1 billion US in damages. First Citizens BancShares Inc, which acquired Silicon Valley Bank …

Social media company TikTok Inc. filed a lawsuit Monday seeking to overturn Montana’s ban on the video-sharing app, arguing the law is an unconstitutional violation of free speech rights and is based on “unfounded speculation” that the Chinese government could access user data.  5 content creators filed similar lawsuit last …

TECH WAR A sign marks the entrance of the Micron Technology automotive chip manufacturing plant on Feb. 11, 2022, in Manassas, Virginia. Stepping up a feud with Washington over technology and security, China’s government on Sunday, May 21, 2023, told users of computer equipment deemed sensitive to stop buying products …