Colorado’s governor vetoes landmark ban on rent-setting algorithms

Democratic Gov. Jared Polis has vetoed a bill that would have made Colorado the first state to ban landlords from using rent-setting algorithms, which many advocates have blamed for driving up housing costs across the country.

RealPage is the target of a federal lawsuit filed last year that accuses the real estate software company of facilitating an illegal scheme to help landlords coordinate to hike rental prices. Eight other states, including Colorado, have joined the Department of Justice's lawsuit, though RealPage has vehemently denied any claims of collusion and has fought to have the lawsuit dismissed.

Critics say RealPage software combines confidential information from each real estate management company in ways that enable landlords to align prices and avoid competition that would otherwise push down rents. RealPage’s clients include huge landlords who collectively oversee millions of units across the U.S.

The Colorado bill, which recently passed the Democratic-led Legislature along party lines, would have prevented the use of such algorithms.

Hudson’s Bay heads into last days of sale with lots of shoppers, little merchandise

TORONTO - Hudson’s Bay headed into its last weekend of liquidation sales with its Toronto flagship teeming with shoppers looking for one last treasure from the department store.

Even before the Yonge Street location opened Friday, shoppers waited in front of its doors, exchanging hopes for what they’d find inside and strategizing how to beat the competition.

When they made it in, they found large swaths of the store had been emptied out, but plenty of deals still remained.

There were $10 Levi's jeans for men, $5 corsets for women and $15 pajama sets.

S&P/TSX composite slides on Friday but caps off month near record highs

Canada’s main stock index on Friday continued to trim the gains that pushed it to a record closing high two days earlier, as investors retreated to defensive stocks while energy and information technology took a hit.

“It’s been another roller-coaster day in markets, capping off generally strong equity index returns for the month,” said Kathrin Forrest, equity investment director at Capital Group.

The S&P/TSX composite index inched down 35.51 points to 26,175.05.

In New York, the Dow Jones industrial average rose 54.34 points to 42,270.07. The S&P 500 index slipped 0.48 points to 5,911.69, while the Nasdaq dipped 62.11 points to 19,113.77 — but both logged their biggest monthly percentage gains since November 2023.

CFL, nine member clubs donate over $4.5 million to grassroots football programs

TORONTO - The CFL and its nine member clubs invested over $4.5 million into amateur football last year.

The league announced Friday that it and the nine franchises combined to donate $4,518,900 to grassroots football initiatives, projects and programs throughout Canada in 2024.

"The community involvement of the CFL, its clubs and players is something that sets us apart from other leagues," said CFL commissioner Stewart Johnston. "To be able, among all of the clubs in the league, to donate over $4.5 million is encouraging participation and exposure to the game and ultimately having kids fall in love with the sport.

"That's wonderful for a number of reasons, one of which is the game of football teaches such great skills that can be applied to life."

US inflation gauge cools with little sign of tariff impact, so far

WASHINGTON (AP) — A key U.S. inflation gauge slowed last month as President Donald Trump’s tariffs have yet to noticeably push up prices. Spending by Americans slowed despite rising incomes, potentially an early reaction to higher prices on some imported goods.

Friday’s report from the Commerce Department showed that consumer prices rose just 2.1% in April compared with a year earlier, down from 2.3% in March and the lowest since September. Excluding the volatile food and energy categories, core prices rose 2.5% from a year earlier, below the March figure of 2.7%, and the lowest in more than four years. Economists track core prices because they typically provide a better read on where inflation is headed.

The figures show inflation is still declining from its post-pandemic spike, which reached the highest level in four decades in July 2022. Economists and some business executives have warned that prices will likely head higher as Trump’s widespread tariffs take effect, though the timing and impact of those duties are now in doubt after they were struck down late Wednesday in court.

On a monthly basis, overall prices and core prices both increased just 0.1% from March to April. The cost of big-ticket manufactured goods rose a hefty 0.5%, though that increase was offset by a 0.1 decline in other goods, such as groceries. The cost of services rose just 0.1% from March to April.

RioCan REIT asks court to put joint venture with Hudson’s Bay into receivership: docs

TORONTO - RioCan Real Estate Investment Trust is pushing to put a joint venture it owns with Hudson's Bay into receivership.

A motion filed late Thursday from the real estate firm asks the Ontario Superior Court to appoint FTI Consulting Canada Inc. receiver of the companies that span the venture.

“The proposed receivership proceedings will provide the appropriate forum to protect the interests of the stakeholders of the joint-venture entities and maximize value,” RioCan’s chief financial officer Dennis Blasutti said in an affidavit filed alongside the motion.

Receivers are empowered by courts to take control of a company’s assets, oversee their liquidation and repay creditors.

Laurentian Bank reports $32 million Q2 profit as work continues on strategic plan

Laurentian Bank of Canada says it's making progress on its turnaround efforts as it marks a year of working through its strategic plan.

"We've taken meaningful steps to transform our organization and are making steady progress toward generating efficiency," said chief executive Éric Provost on an earnings call Friday.

"While we're still in the early stages, we are satisfied with the progress we have made."

The bank has been working to boost its dealings in the specialized commercial sector while maintaining consumer deposits, as well as boosting technology investments for a bank that until recently didn't offer a smartphone app.

New Zealand hails ‘breakthrough’ in trade talks with India, but no timeline for deal

NEW DELHI (AP) — New Zealand’s deputy prime minister said on Friday that talks over a free trade agreement between his country and India were ongoing, but he didn't provide a timeline for when the two nations could eventually sign a deal.

Winston Peters, who is on a two-day visit to India, said that the negotiations were “going with real meaning now," calling them “a breakthrough in our economic relationship.”

India and New Zealand began negotiations in March for a trade pact, and had aimed to sign a deal in 60 days. The deal will significantly bolster economic ties between the two countries, but it has faced delays because of differences over tariffs on dairy products.

Bilateral trade between India and New Zealand stood at $1.7 billion in the 2023-24 financial year.

Bank of Canada expected to hold key rate after surprise Q1 GDP jump

OTTAWA - The Canadian economy got a boost to start the year as businesses rushed to get ahead of tariffs, and some economists believe that lift will be enough to keep the Bank of Canada on the sidelines at its interest rate decision next week.

Real gross domestic product rose 2.2 per cent annualized in the first quarter of 2025, Statistics Canada reported Friday, up a tick from 2.1 per cent in the fourth quarter.

The first quarter figures topped StatCan’s flash estimate for annualized growth of 1.5 per cent and beat calls for 1.7 per cent from a Reuters poll of economists.

"We did get a better number, overall," said CIBC chief economist Avery Shenfeld.

Judge wrestles with far-reaching remedy proposals in US antitrust case against Google

WASHINGTON (AP) — The fate and fortunes of one of the world’s most powerful tech companies now sit in the hands of a U.S. judge wrestling with whether to impose far-reaching changes upon Google in the wake of its dominant search engine being declared an illegal monopoly.

U.S. District Judge Amit Mehta heard closing arguments Friday from Justice Department lawyers who argued that a radical shake-up is needed to promote a free and fair market. Their proposed remedies include a ban on Google paying to lock its search engine in as the default on smart devices and an order requiring the company to sell its Chrome browser.

Google’s legal team argued that only minor concessions are needed and urged Mehta not to unduly punish the company with a harsh ruling that could squelch future innovations. Google also argued that upheaval triggered by advances in artificial intelligence already is reshaping the search landscape, as conversational search options are rolling out from AI startups that are hoping to use the Department of Justice’s four-and-half-year-old case to gain the upper hand in the next technological frontier.

It was an argument that Mehta appeared to give serious consideration as he marveled at the speed at which the AI industry was growing. He also indicated he was still undecided on how much AI’s potential to shake up the search market should be incorporated in his forthcoming ruling. “This is what I’ve been struggling with,” Mehta said.

Trump says US Steel will keep HQ in Pittsburgh in a sign he’ll approve bid by Japan-based Nippon

WASHINGTON (AP) — President Donald Trump said Friday that U.S. Steel will keep its headquarters in Pittsburgh as part of what he called a “planned partnership” that seemed to signal that he’ll approve a bid by Japan-based Nippon Steel to make a big investment in the iconic American steelmaker, if not buy it outright.

Still, Trump's statement left it vague as to whether he is approving Nippon Steel's bid after he vowed repeatedly to block the deal to prevent U.S. Steel from being foreign-owned.

More recently, Trump suggested that Nippon Steel would invest in U.S. Steel, not buy it, and one union official suggested Friday that the federal government will have a role in the company's management going forward. But investors seemed to take Trump's statement as a sign that he's approving some sort of merger, sharply pushing up U.S. Steel's shares, and the companies issued approving statements.

Nippon Steel said the partnership is a “game changer — for U.S. Steel and all of its stakeholders, including the American steel industry, and the broader American manufacturing base.” U.S. Steel said it “will remain American, and we will grow bigger and stronger through a partnership with Nippon Steel that brings massive investment, new technologies and thousands of jobs over the next four years."

See a penny, pick it up? In the future, probably not as often – and, some say, that matters

NEW YORK (AP) — Ask someone for their thoughts: Could it now cost you a nickel? If you want to call somebody stingy, would you say they're a quarter-pincher? And if they spend money unwisely, are they now dime-wise but pound-foolish?

OK, maybe those are some minor, small-stakes, dare we say penny-ante concerns in the wake of the U.S. Treasury confirming Thursday that it will stop making shiny new penny coins after the current production run is complete.

But it is the end of an era in the United States. While there will still be over a billion already existing pennies in circulation, rattling around in jars, gathering dust under the sofa cushions and waiting to be picked up from sidewalks, no new cents will be joining their ranks for the first time in more than two centuries.

Answering advocates' demands to abandon the coin

The road back to respectability proving to be a long one for Toronto FC

TORONTO - A record 6-1 win at rival CF Montreal last time out and the possible return of captain Jonathan Osorio from injury for Saturday's visit by Nashville SC offer hope for beleaguered Toronto FC fans.

But the road back to respectability is proving to be a long one for Toronto (3-7-4).

Saturday's game is the 600th regular-season outing for the franchise, which has compiled a 180-264-155 record since entering Major League Soccer in 2007. Eighty-five of those wins came between 2015 and 2020, when Toronto made the playoffs five out of the six seasons — its only post-season appearances to date.

Toronto reached the MLS Cup final in 2016, '17 and '19, hoisting the trophy in 2017 when it also won the Canadian Championship and Supporters' Shield (for the best regular-season record).

Inquiry must be called to get answers on sand mine scandal

It’s pretty clear by now that an inquiry should be called into the Sio Silica scandal.

Ethics Commissioner Jeffrey Schnoor released his long-awaited report into the matter this week. He found that former premier Heather Stefanson, then deputy premier Cliff Cullen and then economic development minister Jeff Wharton, violated the province’s Conflict of Interest Act by attempting to approve a licence for a controversial silica sand mining project after their government was defeated in the Oct. 3, 2023 provincial election.

All three ministers pushed to have a Class 2 licence under the Environment Act approved for Sio Silica, days before the new NDP government was sworn into office.

They did so even though they knew, or ought to have known, that it violated the “caretaker convention,” a longstanding constitutional principle in Canada that prohibits governments from making major policy decisions once a general election is called (unless it’s related to an urgent matter of public importance).

Strike threat could push more customers away from struggling Canada Post

MONTREAL - Canada Post customers may face delays as tens of thousands of workers swear off overtime shifts, though a much bigger disruption was averted after the union backed down from a strike threat.

Nonetheless, the possibility of escalating job action could continue to scare off customers who pulled their shipments over the past couple of weeks, draining more business from the cash-strapped organization.

“I’m scared for the future,” said Edmonton mail carrier Dustin Ellis, who recently went on leave to study for a new career in social work.

He said the union should show more flexibility on key sticking points such as part-time weekend work and "dynamic routing" — where the path carriers take can vary day to day.

Trump threatens 50% tariffs on EU and 25% penalties on smart phones as his trade war intensifies

WASHINGTON (AP) — President Donald Trump on Friday threatened a 50% tax on all imports from the European Union as well a 25% tariff on smartphones unless those products are made in America.

The threats, delivered over social media, reflect Trump's ability to disrupt the global economy with a burst of typing, as well as the reality that his tariffs have yet to produce the trade deals he is seeking or the return of domestic manufacturing he has promised voters.

The Republican president said he wants to charge higher import taxes on goods from the EU, a longstanding US ally, than from China, a geopolitical rival that had its tariffs cut to 30% this month so Washington and Beijing could hold negotiations. Trump was upset by the lack of progress in trade talks with the EU, which has proposed mutually cutting tariffs to zero even as the president has publicly insisted on preserving a baseline 10% tax on most imports.

“Our discussions with them are going nowhere!” Trump posted on Truth Social. “Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. There is no Tariff if the product is built or manufactured in the United States.”

Trump hosts top crypto investors as some industry leaders fear he’s putting personal profits first

WASHINGTON (AP) — President Donald Trump rewarded top investors in one of his cryptocurrency projects with a swanky dinner on Thursday night, an event that showed the ascendance of an emerging financial industry — and also the president's willingness to mix public office with personal profit.

Some 220 of the biggest investors in the $TRUMP meme coin were invited to Trump's luxury golf club in Northern Virginia, where they dined on filet mignon and halibut. According to participants' posts on social media, Trump spoke for about half an hour before dancing to the song “YMCA.”

Despite the White House insisting that Trump would be attending the event “in his personal time,” he stood behind a lectern with the presidential seal as he touted an industry that's generating profits for his family business.

After feeling unfairly targeted under President Joe Biden, the crypto industry has quickly become a powerful political force, donating huge sums to help Trump and friendly lawmakers. The U.S. Senate is advancing key pro-crypto legislation while bitcoin prices soar.

Increasingly sophisticated deepfake AI-generated political ads threaten to unravel Canada’s social order

Increasingly sophisticated deepfake AI-generated internet political ads threaten to unravel Canada’s social order, experts warn, pointing to the successful war on truth U.S. President Donald Trump is waging south of the border.

Crave introduces ad tiers, including $9.99 plan

TORONTO - Crave is introducing two ad-supported tiers that each shave $5 or $10 off the monthly subscription fee.

Bell Media says its new Crave Basic with Ads costs $9.99/month, while Crave Standard with Ads costs $14.99/month. An unchanged ad-free option remains at $19.99/month, and is renamed Crave Premium Ad-Free.

Viewers can watch most shows and movies, including HBO and Max originals, on the ad-supported plans. About one per cent of titles won't be available due to licensing restrictions.

Ads will be 15 or 30 seconds long, totalling about five minutes per hour, and appear before and during some episodes and films.

Low-cost Temu goes head-to-head with Amazon

It started with a video of a postal worker sorting a mountain of orange packages from Temu.

Rachael D'Amore hadn't heard of the online shopping site, but after watching the video she found good reviews, affordable products and free shipping on most orders — what she called "a unicorn in Canada these days."

"I had to double check the URL to make sure that I wasn't on the U.S. site," she said.

Temu also offered a $5 credit if an order took longer than 12 days to arrive — a quasi-insurance policy that gave D'Amore the confidence to place a $30 order for seven items, including an 89-cent necklace, earrings for $1.78 and hair clips for $3.59.

As elites arrive in Davos, conspiracy theories thrive online

NEW YORK (AP) — When some of the world’s wealthiest and most influential figures gathered at the World Economic Forum’s annual meeting last year, sessions on climate change drew high-level discussions on topics such as carbon financing and sustainable food systems.

But an entirely different narrative played out on the internet, where social media users claimed leaders wanted to force the population to eat insects instead of meat in the name of saving the environment.

The annual event in the Swiss ski resort town of Davos, which opens Monday, has increasingly become a target of bizarre claims from a growing chorus of commentators who believe the forum involves a group of elites manipulating global events for their own benefit. Experts say what was once a conspiracy theory found in the internet’s underbelly has now hit the mainstream.

“This isn’t a conspiracy that is playing out on the extreme fringes,” said Alex Friedfeld, a researcher with the Anti-Defamation League who studies anti-government extremism. “We’re seeing it on mainstream social media platforms being shared by regular Americans. We were seeing it being spread by mainstream media figures right on their prime time news, on their nightly networks.”

Un rapport alarmant

LA situation de l’accessibilité au logement à Winnipeg est alarmante, surtout pour les nouveaux arrivants, révèle le premier rapport réalisé à ce sujet par l’École de service social de l’Université de Saint-Boniface (USB).

“Il y a une crise du logement évidente qui sévit partout au Canada, et Winnipeg est l’une des grandes villes avec le plus bas taux d’inoccupation de logements au pays,” explique le professeur à l’USB David Alper, un des co-auteurs du rapport.

“Plusieurs études ont été effectuées dans les dernières années pour démontrer comment cela touchait différentes tranches de la société, alors on a voulu étudier la problématique dans la communauté francophone, surtout chez les nouveaux arrivants.”

Pour ce faire, les auteurs ont interrogé une douzaine de familles francophones venues d’Afrique.