Through 30 September, 15.4 percent more Canadian households became insolvent this year than last as the country’s cost-of-living crisis continues, the Office of the Superintendent of Bankruptcy reported.
Category: 19 November 2024
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AI’S SURGING POWER DEMANDS SHOULD NUDGE OIL MAJORS TOWARD RENEWABLES, ARAB OIL CHIEFTAIN SAYS
Earlier this month, the United Arab Emirates (UAE) hosted a summit that brought together CEOs of oil majors BP, Shell, and TotalEnergies with officials of Microsoft and other leading tech companies, the board chair of private equity firm Brookfield Asset Management, and executives of German utility RWE and EDF, which provides power in the U.K.
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NEW AI CAN SMOOTH OUT BUMPY AIRLINE FLIGHTS
Air turbulence that slops your coffee onto your fold-down tray could disappear with FALCON, a new AI that can instantly adjust an airplane’s behavior as it encounters the sudden differences in air pressure that cause bumpy flights.
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RUSSIA HALTS NATURAL GAS DELIVERIES TO AUSTRIA
Russia has suspended natural gas deliveries to OMV, Austria’s largest public utility.
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IMF MAKES UNSCHEDULED VISIT TO PAKISTAN AMID FISCAL DANGER SIGNS
Officials of the International Monetary Fund (IMF) made an unscheduled visit to Pakistan last week to discuss a possible $7-billion bailout amid imminent dangers to the country’s fiscal stability.
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MILLION-BARREL GLOBAL OIL GLUT AHEAD, IEA SAYS
The world will see an oil surplus exceeding one million barrels a day in 2025, the International Energy Agency (IEA) said, even though demand will increase slightly in the new year.
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OPENAI URGES “NORTH AMERICAN COMPACT” TO COMPETE WITH CHINA
OpenAI has called for the creation of a “North American Compact on AI” under which the U.S. and Canadian governments and their AI companies would work together to outcompete China on AI development and deployment.
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EUROPE WILL GROW MORE SLOWLY THAN PREVIOUSLY THOUGHT, EC SAYS
The Eurozone’s economy will expand less in 2025 than previously thought, the European Commission (EC) said last week as it trimmed its next year’s growth forecast to 1.3 percent, down from 1.4 percent foreseen in May.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that have profoundly affected the business community.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
The retail, restaurant, manufacturing, automotive, and tech industries continue to be hit hard as prices increase and demand slows.