When are the world’s central banks cutting rates in 2024?

Euros, U.S. dollars, Canadian dollars, Russian rubles and Czech korunas lie on a table as banknotes.  Picture Alliance | Picture Alliance | Getty Images As inflation loosens its grip in most economies, investors are closely monitoring interest rate decisions, with markets expecting a slew of rate cuts this year. While rates in most economies are … Read more

Sweden and Canada resume UNRWA funding after pause

Sweden and Canada are resuming funding to the U.N. agency for Palestinian refugees, weeks after the embattled agency faced explosive allegations of ties with Hamas that led to more than a dozen countries pausing payments. Sweden said Saturday it was making an initial payment of 200 million kronor ($20 million) to UNRWA, having received additional … Read more

Canada will restore funding to UNRWA, the embattled UN agency in Gaza

TORONTO — Canada will restore funding to the United Nations relief agency for Palestinians, weeks after the agency, known as UNRWA, lost hundreds of millions of dollars in support following Israeli allegations against some of its staffers in Gaza. Canada was one of 16 countries that temporarily halted future payments. Ahmed Hussen, Minister of International … Read more

TMX CEO jumps deeper into ETFs

The Toronto Stock Exchange’s parent company has already completed a major deal this year: its acquisition of ETF education company VettaFi. According to TMX Group CEO John McKenzie, the deal helps expand its exchange-traded fund business globally. “The exchange-traded fund is essentially one of the most important innovations in investing in the marketplace history — … Read more

Fired scientists in Canada failed to acknowledge links to China, newly released records say

OTTAWA, Ontario — Two scientists at a high-security infectious disease laboratory in Canada lost their jobs after reviews found they failed to protect sensitive material and information and did not acknowledge links with China, newly released records show. The scientists, Xiangguo Qiu and her husband, Keding Cheng, were stripped of their security clearances in 2019 … Read more

Man who intentionally drove his truck into a Muslim family, killing 4, gets life sentence in Canada

LONDON, Ontario — A man found guilty of using his pickup truck to kill four members of a Muslim family was sentenced Thursday to life in prison as a Canadian judge ruled that the actions of the admitted white nationalist amounted to terrorism. Nathaniel Veltman has also been sentenced to a concurrent life sentence for … Read more

Canada airline to pay customer after chatbot gave false information

After his grandmother died in Ontario a few years ago, British Columbia resident Jake Moffatt visited Air Canada’s website to book a flight for the funeral. He received assistance from a chatbot, which told him the airline offered reduced rates for passengers booking last-minute travel due to tragedies. Moffatt bought a nearly $600 ticket for … Read more

Canada says China has role to play in keeping Red Sea safe

By Steve Scherer OTTAWA (Reuters) – Canada’s Foreign Minister Melanie Joly on Sunday said China should play a role in keeping the Red Sea safe for commerce because Chinese ships are at risk there as well, and urged Beijing to stop helping Russia sidestep international sanctions. In an interview, Joly said she told China’s Foreign … Read more

Air Canada loses court case after its chatbot hallucinated fake policies to a customer

Air Canada’s argument that its AI-powered customer chatbot was solely liable for its own actions didn’t hold up in civil court (thank goodness), and now the airline must refund a customer who was given the incorrect information about being comped for his airfare. The 2022 incident involved one Air Canada customer, Jake Moffatt, and the … Read more

Air Canada Has to Honor a Refund Policy Its Chatbot Made Up

After months of resisting, Air Canada was forced to give a partial refund to a grieving passenger who was misled by an airline chatbot inaccurately explaining the airline’s bereavement travel policy. On the day Jake Moffatt’s grandmother died, Moffat immediately visited Air Canada’s website to book a flight from Vancouver to Toronto. Unsure of how … Read more