Top Articles Bloomberg, CNN, Financial Post

Homebuyers in Canada Bet on More Rate Cuts With Adjustable Loans

Canadian homebuyers are increasingly opting for variable-rate mortgages as expectations build that policymakers are about to provide further relief on borrowing costs.

The share of borrowers opting for mortgages that track the Bank of Canada’s benchmark rate rose to 12.9% in the first quarter, the second consecutive increase, according to new data from the central bank. That’s up from a low of just 4.2% of new mortgages in the third quarter of 2023 — though it’s still well below the levels seen

Canada Needs AI Adoption to Narrow Productivity Gap, RBC Says

Canada’s economic productivity is lagging behind the US and more industries should embrace generative artificial intelligence to catch up, according to a report from Royal Bank of Canada.

Generative AI has the potential to boost Canada’s economy by C$180 billion ($131 billion) per year by 2030, but 73% of Canadian businesses haven’t even considered using it yet, the report said, citing a Statistics Canada survey from earlier this year.

Vanguard Says Fed’s Caution Will Hold Back Canada on Rate Cuts

The Bank of Canada may hesitate to make aggressive rate cuts until policymakers feel assured the Federal Reserve is ready to start lowering borrowing costs, Vanguard Group economist Roger Aliaga-Diaz said.

Fed policymakers last week shifted their forecasts for the path of interest rates, signaling just one cut in 2024. The Bank of Canada has already started an easing cycle — this month it became the first Group of Seven central bank to cut rates — but it may be reluctant to get too far ahead of

Canada’s Largest School Board Targeted by Ransomware Attack

Canada’s largest school district is investigating a cyber incident, adding to a series of ransomware attacks that have caused disruptions to companies and public institutions in the country.

The Toronto District School Board alerted parents Wednesday in an emailed letter, noting that the attack happened when an unauthorized party gained access to the board’s technology testing environment. The TDSB said its cybersecurity team took immediate steps to preserve data and safeguard critical operations, adding that its systems are operational and haven’t been impacted. Toronto police have been notified.

Corus Shares May Be Worthless After Rogers-Warner Deal, TD Says

Shares of Canadian media company Corus Entertainment Inc. may be worth zero if Rogers Communications Inc. is successful in snatching away programming and trademark deals for channels owned by Warner Bros Discovery Inc., according to analysts at TD Cowen.

Corus, an independent television and radio company that’s controlled by the Shaw family of Alberta, is at risk of losing the Canadian rights to programming on five key channels, including HGTV and the Food Network. Rogers said Monday it signed

Ontario’s postsecondary budget stirs criticism from provincial lobby groups

Ontario released its yearly budget report on Tuesday, touting postsecondary funding and STEM projects. But advocacy groups say the funding won’t be enough for the province’s struggling universities.

The provincial government is reducing overall spending on postsecondary institutions by $425 million—from $12.6 to $12.2 billion in the 2024-25 fiscal year. The reduction is due to the federal government’s cap on international student study permits, according to Ontario’s Chamber of Commerce (OCC).

‘Divest from death’: Understanding Queen’s investments in the Israel-Gaza war

The Queen’s chapter of student advocacy group Solidarity for Palestinian Human Rights (SPHR) swung a long banner over the balcony of Stauffer Library at Queen’s last week. The poster claimed Queen’s University invests $43 million in the Israeli occupation.

Pro-Palestine protests stretched through SPHR’s Israeli Apartheid Week on March 7 and 8, culminating with the Palestinian flag being raised atop Grant Hall. Over 30,000 Palestinians have been killed in Gaza since October 7, according to the h

The Bank of Canada held interest rates steady. Here’s what it means for housing in Kingston

The Bank of Canada (BoC) held its policy interest rate at 5 per cent on Wednesday, a highly-anticipated move from policymakers who continue to battle elevated inflation.

“We need to give higher interest rates more time to do their work,” Governor Tiff Macklem said at the press conference.

The Consumer Price Index (CPI), which measures inflation by the change of price of a basket of goods, remains elevated at 2.9 per cent. CPI inflation reached a historic high in June 2022 at 8.1 per cent.

The

Why Insomnia Cookies chose Kingston for its second Canadian branch

The American chain Insomnia Cookies opened its second Canadian location in Kingston, a testament to the city’s awakening business atmosphere. But some experts warn the sugar rush might wear off after a while.

Since its humble inception in a dorm room at the University of Pennsylvania, Insomnia Cookies has grown exponentially, opening 265 stores over two decades. A subsidiary of Krispy Kreme (DNUT), Insomnia released its plans to expand into the Greater Toronto Area (GTA) in Canada and Mancheste

This tech CEO is now recruiting some of his former students

Queen’s professor-turned-CEO Ahmad Ghahreman is scaling up his clean technology start-up Cyclic Materials while enlisting former students.

“Go tell students to study hard,” co-founder Patrick William Nee joked during a media tour, referencing how Ghahreman hired some of his best former students at Queen’s.

The Kingston-based company is the first to create a true circular supply chain for rare earth elements—the critical minerals in permanent magnets. These magnets power all sorts of products,

New study finds medical software has racial bias against Black patients

Black patients are less likely to receive an accurate skin disease diagnosis, even if the doctor has help from artificial intelligence.

A study on Feb. 5 found when physicians were assisted by AI in diagnosing skin disease among Black patients, the accuracy wasn’t improved because of the data the AI was trained on. AI models are improving the accuracy of skin disease diagnosis, but not for Black patients.

Medical and facial recognition softwares have shown bias against Black people for years.

Young adults are going out less than ever. Here’s what it means for university town bars

Local bars in Kingston have long relied on students to prop up alcohol sales. Every year has brought a wave of newly minted adults, giddy with independence and eager to test out their alcohol tolerance.

But as university-age students are drinking less alcohol and sleeping far more than previous generations, local businesses are scrambling to adapt.

Young Canadians that engage in heavy drinking—defined as consuming more than five drinks for men or four for women per night—decreased by a third b

Ford unwilling to raise tuition freeze as Ontario universities feel budget strain

Ontario Premier Doug Ford said he isn’t looking to increase tuition for post-secondary students at a press conference on Jan. 31.

“I don’t believe this is the time to go into these students’ pockets, especially the ones that are really struggling, and ask for a tuition increase,” the Premier said.

Ontario slashed tuition by 10 per cent in 2019 and has kept fees frozen since. Ford said he plans to work with universities to support them, but called class sizes as small as six or seven students u

Some Queen’s professors encourage AI use. Others will give you an “F”

For the first few weeks, ChatGPT was an amusing new toy. Then someone figured out it can do more than write bad poetry. One year in, it’s dramatically heralding the end of white-collar jobs.

Most university professors didn’t know what to make of Large Language Models (LLMs) like ChatGPT at first. But now, some are AI wizards.

Like Commerce Assistant Professor Evan Jo, who used ChatGPT to generate some responses for this article.

“The [AI] landscape is evolving, and so too will our approaches

Analysis: Queen’s University’s financial woes are a symptom of a wider issue

Queen’s University first showed signs of financial strain in March 2020, when it projected its first operating deficit in years. It has since spiraled into fiscal quagmire.

The University forecasted a $62.8 million operating deficit for the 2023-24 academic year last May, and later revised the projection to a $48 million deficit in December. To continue operating, Queen’s will dip into reserve funds, or surpluses it accumulated from previous years, according to a university FAQ page.

With pote

Saudi Arabia’s oil production cuts have tipped its economy into reverse

Saudi Arabia’s economy has jolted into reverse, after the world’s largest crude oil exporter slashed output to prop up prices.

Saudi gross domestic product, the broadest measure of its economy, shrunk 4.5% year-over-year in the third quarter of 2023, the country’s official statistics agency said this week. That’s the largest contraction since the Covid-19 pandemic in 2020. The slump would have been even greater if not for growth of 3.6% in non-oil activities.

The country’s vast oil sector had

Arabic AI could help open doors for other languages

The emergence of Chat-GPT and similar platforms has created a buzz around large language model AI – artificial intelligence trained on vast sets of data from the internet to respond to text commands.

Despite growing interest in AI in the Middle East, Arabic-language models have lagged behind. But a team of academics, researchers and engineers in the United Arab Emirates (UAE) recently unveiled a powerful tool tailored to the world’s Arabic speakers, which its creators say could pave the way for

The UAE prepares to legalize gambling with new regulatory body

With its glitzy luxury resorts and a world-renowned horse racing industry, the United Arab Emirates soon might have a new card to play in attracting visitors — gambling.

The UAE introduced a new regulatory body to oversee commercial gaming on Monday, made up of casino and gambling experts from the United States. Gambling is currently illegal in the UAE, where some laws are based on the Quran, which forbids the practice.

The new federal body, called the General Commercial Gaming Regulatory Auth
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Top Articles CNN, The Journal, Financial Post

Corus Shares May Be Worthless After Rogers-Warner Deal, TD Says

Shares of Canadian media company Corus Entertainment Inc. may be worth zero if Rogers Communications Inc. is successful in snatching away programming and trademark deals for channels owned by Warner Bros Discovery Inc., according to analysts at TD Cowen.

Corus, an independent television and radio company that’s controlled by the Shaw family of Alberta, is at risk of losing the Canadian rights to programming on five key channels, including HGTV and the Food Network. Rogers said Monday it signed

Ontario’s postsecondary budget stirs criticism from provincial lobby groups

Ontario released its yearly budget report on Tuesday, touting postsecondary funding and STEM projects. But advocacy groups say the funding won’t be enough for the province’s struggling universities.

The provincial government is reducing overall spending on postsecondary institutions by $425 million—from $12.6 to $12.2 billion in the 2024-25 fiscal year. The reduction is due to the federal government’s cap on international student study permits, according to Ontario’s Chamber of Commerce (OCC).

‘Divest from death’: Understanding Queen’s investments in the Israel-Gaza war

The Queen’s chapter of student advocacy group Solidarity for Palestinian Human Rights (SPHR) swung a long banner over the balcony of Stauffer Library at Queen’s last week. The poster claimed Queen’s University invests $43 million in the Israeli occupation.

Pro-Palestine protests stretched through SPHR’s Israeli Apartheid Week on March 7 and 8, culminating with the Palestinian flag being raised atop Grant Hall. Over 30,000 Palestinians have been killed in Gaza since October 7, according to the h

The Bank of Canada held interest rates steady. Here’s what it means for housing in Kingston

The Bank of Canada (BoC) held its policy interest rate at 5 per cent on Wednesday, a highly-anticipated move from policymakers who continue to battle elevated inflation.

“We need to give higher interest rates more time to do their work,” Governor Tiff Macklem said at the press conference.

The Consumer Price Index (CPI), which measures inflation by the change of price of a basket of goods, remains elevated at 2.9 per cent. CPI inflation reached a historic high in June 2022 at 8.1 per cent.

The

Why Insomnia Cookies chose Kingston for its second Canadian branch

The American chain Insomnia Cookies opened its second Canadian location in Kingston, a testament to the city’s awakening business atmosphere. But some experts warn the sugar rush might wear off after a while.

Since its humble inception in a dorm room at the University of Pennsylvania, Insomnia Cookies has grown exponentially, opening 265 stores over two decades. A subsidiary of Krispy Kreme (DNUT), Insomnia released its plans to expand into the Greater Toronto Area (GTA) in Canada and Mancheste

This tech CEO is now recruiting some of his former students

Queen’s professor-turned-CEO Ahmad Ghahreman is scaling up his clean technology start-up Cyclic Materials while enlisting former students.

“Go tell students to study hard,” co-founder Patrick William Nee joked during a media tour, referencing how Ghahreman hired some of his best former students at Queen’s.

The Kingston-based company is the first to create a true circular supply chain for rare earth elements—the critical minerals in permanent magnets. These magnets power all sorts of products,

New study finds medical software has racial bias against Black patients

Black patients are less likely to receive an accurate skin disease diagnosis, even if the doctor has help from artificial intelligence.

A study on Feb. 5 found when physicians were assisted by AI in diagnosing skin disease among Black patients, the accuracy wasn’t improved because of the data the AI was trained on. AI models are improving the accuracy of skin disease diagnosis, but not for Black patients.

Medical and facial recognition softwares have shown bias against Black people for years.

Young adults are going out less than ever. Here’s what it means for university town bars

Local bars in Kingston have long relied on students to prop up alcohol sales. Every year has brought a wave of newly minted adults, giddy with independence and eager to test out their alcohol tolerance.

But as university-age students are drinking less alcohol and sleeping far more than previous generations, local businesses are scrambling to adapt.

Young Canadians that engage in heavy drinking—defined as consuming more than five drinks for men or four for women per night—decreased by a third b

Ford unwilling to raise tuition freeze as Ontario universities feel budget strain

Ontario Premier Doug Ford said he isn’t looking to increase tuition for post-secondary students at a press conference on Jan. 31.

“I don’t believe this is the time to go into these students’ pockets, especially the ones that are really struggling, and ask for a tuition increase,” the Premier said.

Ontario slashed tuition by 10 per cent in 2019 and has kept fees frozen since. Ford said he plans to work with universities to support them, but called class sizes as small as six or seven students u

Some Queen’s professors encourage AI use. Others will give you an “F”

For the first few weeks, ChatGPT was an amusing new toy. Then someone figured out it can do more than write bad poetry. One year in, it’s dramatically heralding the end of white-collar jobs.

Most university professors didn’t know what to make of Large Language Models (LLMs) like ChatGPT at first. But now, some are AI wizards.

Like Commerce Assistant Professor Evan Jo, who used ChatGPT to generate some responses for this article.

“The [AI] landscape is evolving, and so too will our approaches

Analysis: Queen’s University’s financial woes are a symptom of a wider issue

Queen’s University first showed signs of financial strain in March 2020, when it projected its first operating deficit in years. It has since spiraled into fiscal quagmire.

The University forecasted a $62.8 million operating deficit for the 2023-24 academic year last May, and later revised the projection to a $48 million deficit in December. To continue operating, Queen’s will dip into reserve funds, or surpluses it accumulated from previous years, according to a university FAQ page.

With pote

Saudi Arabia’s oil production cuts have tipped its economy into reverse

Saudi Arabia’s economy has jolted into reverse, after the world’s largest crude oil exporter slashed output to prop up prices.

Saudi gross domestic product, the broadest measure of its economy, shrunk 4.5% year-over-year in the third quarter of 2023, the country’s official statistics agency said this week. That’s the largest contraction since the Covid-19 pandemic in 2020. The slump would have been even greater if not for growth of 3.6% in non-oil activities.

The country’s vast oil sector had

Arabic AI could help open doors for other languages

The emergence of Chat-GPT and similar platforms has created a buzz around large language model AI – artificial intelligence trained on vast sets of data from the internet to respond to text commands.

Despite growing interest in AI in the Middle East, Arabic-language models have lagged behind. But a team of academics, researchers and engineers in the United Arab Emirates (UAE) recently unveiled a powerful tool tailored to the world’s Arabic speakers, which its creators say could pave the way for

The UAE prepares to legalize gambling with new regulatory body

With its glitzy luxury resorts and a world-renowned horse racing industry, the United Arab Emirates soon might have a new card to play in attracting visitors — gambling.

The UAE introduced a new regulatory body to oversee commercial gaming on Monday, made up of casino and gambling experts from the United States. Gambling is currently illegal in the UAE, where some laws are based on the Quran, which forbids the practice.

The new federal body, called the General Commercial Gaming Regulatory Auth

Lebanon bans 'Barbie' movie for "promoting homosexuality''

Authorities in Lebanon moved to ban the “Barbie” movie from cinemas on Wednesday, saying it promotes homosexuality and violates the nation’s values.

Culture Minister Mohammad Mortada banned the film from cinemas after delaying its release date to late August, saying it contradicts the “moral and religious values as well as the principles of Lebanon,” state-run media reported Wednesday.

The minister said the movie also “promotes sexual deviance and transsexuality,” by Lebanese state-run media o
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