United Auto Workers hold signs while on strike Friday, Sept. 15, 2023, at the Stellantis Toledo Assembly Complex in Toledo, Ohio.Jeremy Wadsworth/The Associated Press
Getting caught up on a week that got away? Here’s your weekly digest of the Globe’s most essential business and investing stories, with insights and analysis from the pros, stock tips, portfolio strategies and more.
United Auto Workers strike against Big Three Detroit automakers
The United Auto Workers union went on strike at three factories owned by Ford Motor Co., General Motors and Stellantis early on Friday morning. About 12,700 U.S. autoworkers halted work at assembly plants in Wayne, Mich., Wentzville, Mo., and Toledo, Ohio. UAW president Shawn Fain said the targeted strikes could go company-wide if no agreements are reached. Eric Atkins reports that the work stoppage could have an impact in Canada, causing plants to slow or halt production within a couple days. The U.S. strike is happening at the same time as Canadian autoworkers are holding negotiations of their own. Unifor, which cover 18,000 workers at the “Detroit Three” automakers, said its members have voted overwhelmingly in favour of a strike mandate, with a deadline set for Sept. 18.
Trudeau announces a series of measures to tackle Canada’s affordability crisis
This week, Prime Minister Justin Trudeau announced a series of wide-reaching measures to address the rising cost of living – the key issue that Liberals say has sent their fortunes plummeting. To address the housing crisis, Ottawa will remove GST from new rental construction, including apartment buildings, student housing and seniors’ residences. To address high food prices, Ottawa made changes to the Competition Act that target large grocery chains, and is threatening them with tax measures if food prices don’t stabilize. The federal government also says it is extending the final repayment deadline for Canada Emergency Business Account loans by one year.
The long, slow return to normal for food inflation in Canada
The U.S. inflation rate rose to 3.7 per cent because of surging gasoline prices, the U.S. Bureau of Labour Statistics said Wednesday. Nevertheless, food price inflation, specifically the cost of items bought at grocery stores, has continued to slow. However, in Canada, it’s been a much slower return to lower food prices for consumers. Economists say that next week’s consumer price index report for August could finally show signs of a U.S.-style reprieve. Jason Kirby takes a closer look in this week’s Decoder.
Meet the gig workers making AI machines more accurate, capable and powerful
Have you ever wondered how exactly AI machines learn? Well, an elite workforce of gig workers is working to make the technology smarter by training the machines. The freelancers rank responses from chatbots and converse with them in real time, edit AI-written copy and catch mistakes, decide which AI-generated image is best, and teach AI about biology, chemistry, computer science, history, law, marketing, physics, poetry and more. Joe Castaldo investigates how popular AI models are fine-tuned and interviews 20 gig workers who highlight flaws from the field, calling the roles low-paying, precarious and unreliable. Plus, how good are you at spotting fakes? Take The Globe’s AI vs. human quiz to find out.
The Weather Network calls in RCMP to probe cyber hack
The Weather Network is the latest Canadian brand to fall victim to a cybersecurity attack. The breach began to affect the company on Monday and shut down its website and mobile app. Some of its data systems remained partly offline as of Wednesday evening, with forecasts unavailable for many of its users. Oakville, Ont.-based Pelmorex Corp., the network’s parent company, has called in the RCMP to investigate the incident, Temur Durrani reports. A spokesperson for Pelmorex would not say whether the incident was a malware attack or whether any user data have been affected by it.
Mortgage renewing soon? Here are four strategies to reduce the financial pain
Canadians renewing their mortgage in the next six to eight months will face a dilemma: the prospect of future Bank of Canada rate hikes and higher interest rates in the months to come. So what are homeowners to do? Erica Alini outlines four strategies mortgage brokers are using to help clients as they navigate this tricky environment. Among the tips are test drive the new mortgage rate, lengthen the mortgage amortization and sign up for a shorter-term mortgage.
Now that you’re all caught up, test your knowledge with our weekly business and investing news quiz and prepare for the week ahead with the Globe’s investing calendar.
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