Business

Tesla will lay off more than 10 per cent of its global workforce, an internal memo seen by Reuters on Monday shows, as it grapples with falling sales and an intensifying price war for electric vehicles.  Stock underperforming legacy automakers like Toyota, General Motors. Tesla will lay off more than …

RVs — along with boats, ATVs and other outdoor vehicles — sold like hotcakes during the pandemic as people poured their vacation funds into goods that could be enjoyed closer to home. But now the sector is going through a market correction, with sales down around 20 per cent last …

Royal LePage is forecasting that the aggregate price of a home in Canada will increase 9 per cent in the fourth quarter of 2024, compared to the same period last year. At the same time, CREA said home sales activity edged up 0.5 per cent between February and March.  Royal …

General Motors will move its Detroit headquarters to a new downtown office building next year and work to redevelop its iconic home along the Detroit River, company and city officials confirmed Monday.  The iconic Renaissance Center building will be redeveloped. General Motors will move its Detroit headquarters to a new …

Since Meta blocked links to news in Canada last August to avoid paying fees to media companies, right-wing meme producer Jeff Ballingall says he has seen a surge in clicks for his Canada Proud Facebook page.  News is being replaced by memes, says media expert. Since Meta blocked links to …

The Trudeau government is promising $9 billion in new cash for Indigenous communities over the next five years, a smaller spend than some past budgets but one the government says builds on past investments and maintains an upward trend. $5B in Indigenous loan guarantees for resource and energy projects also …

SAN FRANCISCO: Meta’s oversight board said on Tuesday it is scrutinizing the social media titan’s deepfake porn policies, through the lens of two cases. The move by what is referred to as a Meta “supreme court” for content moderation disputes comes just months after the widespread sharing of lewd AI-generated …

The federal government tabled its annual budget on Tuesday with a promise to open the door to homeownership for millennial and Gen Z renters. You’ll have to read the fine print to find measures for young renters who can’t buy a home — or just don’t want to. Budget emphasizes …

CIBC customers who recently bought e-gift cards for Starbucks, Home Depot, Canadian Tire and a host of other stores were surprised to see a $5 fee added to the transaction on their credit card statements. CIBC initially said it considers the gift cards a “cash advance,” but has now decided …

THE China-EU agreement on geographical indications (GI), as China’s first comprehensive and high-level deal on GI with foreign nations, has fostered greater stability in economic and trade cooperation between China and the European Union (EU), Pan Feng, vice president of the China-Europe Association for Technical & Economic Cooperation, told the …