AI is helping gas stations collude to raise California fuel prices, lawsuit says

AI-powered software has allowed gas station operators across California to illegally collude and drive up prices at the pump, according to a federal lawsuit.

The proposed class action lawsuit, filed Monday, accuses gas station giants including Marathon and Circle K of violating California’s antitrust law through Kalibrate, a fuel-pricing software system used across the world. The plaintiffs describe Kalibrate as the “central nervous system for a conspiracy to extinguish retail price competition among gas stations.”

According to the lawsuit, Kalibrate helps “coordinate high prices” and even discourages its users from pricing their gas lower than competitors, saying that doing so would trigger a “downward spiral.”

“Kalibrate promises that if gas stations surrender their pricing decisions and competitively sensitive cost and volume data to Kalibrate Fuel Pricing, the software will enable them to avoid competing with other area stations and to charge higher prices to consumers,” the lawsuit said.

Bank of Canada officials seemed unfazed by the surprise economic decline in Q1

OTTAWA - Officials at the Bank of Canada were seemingly unfazed by economic weakness to start the year as they debated where to take the policy interest rate earlier this month.

The central bank today released a summary of the deliberations that led its governing council to hold the policy rate steady at 2.25 per cent for a fifth consecutive time on June 10.

Officials acknowledged in the summary that they were surprised the Canadian economy posted a slight contraction in the first quarter of the year. The Bank of Canada had forecast a 1.5 per cent annualized growth rate in real gross domestic product for the first three months of 2026.

But looking through some recent volatile data, governing council agreed that not a lot had changed in the economy since its decision in April.

Homes under $500,000 account for growing proportion of Ontario real estate: report

PICKERING - A new report says homes valued under $500,000 are taking up a bigger share of Ontario's real estate landscape, led by a shift in the condominium market.

New data released by the Municipal Property Assessment Corp. showed those lower-valued homes now account for nearly 24 per cent of Ontario's real estate market, up from 17 per cent in 2022.

Despite that improvement, which MPAC said signals "a rebalancing in the housing market," the report said the share of homes priced below $500,000 is still well below that of a decade ago when they made up 67 per cent.

"The past decade has reshaped Ontario's housing market, and while prices remain elevated, there have been corrections from peak conditions," said the organization's chief assessor and data officer Greg Martino in a news release.

AI stock slump raises the question if investors are just taking profits or getting very nervous

Technology companies are spending big to incorporate artificial intelligence into their businesses and to build huge data centers. Investors who had jumped on the bandwagon appear to be having second thoughts.

Proponents of artificial intelligence see it as the next great revolution for the global economy. The revolution won't come cheap. Just four companies — Alphabet, Amazon, Meta Platforms and Microsoft — plan to spend up to $720 billion this year, primarily on AI data centers.

This week, investors are looking at the huge sums being spent and questioning whether AI can produce the profits and productivity necessary to make all the investment worth it. Critics have been talking about the possibility of a bubble in AI investment. On Monday, Amazon and Alphabet fell about 5%.

On Tuesday, several companies that make the chips needed for the data center buildup — Nvidia, Micron Technology, Broadcom and Lam Research — led the market lower.

Economic uncertainty weighs on potential homebuyers, RBC poll says

TORONTO - A new report says prospective homebuyers see a potential window to strike a deal, but economic uncertainty is weighing on their decision.

Royal Bank of Canada's latest home ownership poll says that among those who intend to buy within two years, 45 per cent say now is the right time. However, 75 per cent of them say economic uncertainty is making them more cautious.

It also says 72 per cent of those looking to buy within two years believe the uncertainty is the biggest challenge to buying a home, while 67 per cent are worried it will affect their homebuying plans.

The Canadian economy has struggled in recent months as it continues to adjust to U.S. tariffs and a murky future for the trade agreement with the U.S. and Mexico, while the war in the Middle East sent oil prices soaring.

No evidence of generalized inflation despite May price hikes: BoC’s Macklem

Bank of Canada governor Tiff Macklem says he's not seeing evidence of generalized inflation even as price pressures surged in May.

Statistics Canada said Monday that inflation jumped to 3.2 per cent last month, reaching its highest level since late 2023 and rising past the central bank's target band of one to three per cent.

The energy price spike from the war in Iran has been the primary driver of inflation over the past three months in Canada.

Macklem has said previously that the central bank will look through the initial bout of inflation tied to higher gas prices, but will act to make sure inflation doesn’t spread to other parts of the consumer basket and become entrenched.

May food inflation outpaces overall inflation as fruits and vegetables get pricier

Rising food prices continued to outpace headline inflation for the 16th straight month, Statistics Canada data showed, with no relief in sight for consumers as higher gas prices weigh on grocery bills.

Manitoba government unveils findings of grocery price study

On Monday, Finance Minister Adrien Sala unveiled a report and three new measures government is taking, including restoring a food basket tool to regularly measure the cost of food per region and introducing legislation to mandate unit pricing in grocery stores.

Competition Bureau broadens probe into Sobeys for property control issue

GATINEAU - The Competition Bureau is widening its probe into Sobeys parent company Empire Co. Ltd. for its use of property controls across Canada.

The bureau previously received an initial court order in 2024 requiring the grocer to provide information focused on property controls in Halifax.

The competition watchdog said on Monday it had received a new Federal Court order to obtain company records, written information and oral testimony related to the probe.

The latest court order grants the bureau access to additional information at a national level, such as how the grocer negotiates property controls and their effects on competition.

Iran war ripple effects drive inflation to its highest level since 2023

OTTAWA - Inflation accelerated to its highest level in more than two years in May as price pressures from the war in Iran started to crop up outside the gas pumps.

But most economists weighing in Monday saw little cause for panic in Statistics Canada's latest consumer price data with oil prices already receding and the Bank of Canada unlikely to move from the sidelines anytime soon.

Statistics Canada said Monday that the annual rate of inflation jumped to 3.2 per cent in May, up from 2.8 per cent in April and notching the highest headline inflation rate since December 2023.

StatCan said gas prices rose 33.2 per cent year-over-year last month as conflict in the Middle East continued to shutter the Strait of Hormuz to oil tankers. The agency said last month marks the most consumers have paid for gasoline since June 2022, when Russia’s invasion of Ukraine drove supply uncertainty.

Greed outshines ‘the Beautiful Game’

Utter greed is at the heart of this World Cup, and it has shown up as utter stupidity on the part of FIFA to think that it could treat the 104 matches of this tournament as “104 Super Bowls.”

Pill, bills, budgetary aches

We’re a nation of drug users. Well, not those drugs.

Rather, many Canadians have their health supported by pharmaceutical medications prescribed by a physician.

In our universal health-care system, medication can come with a big additional cost.

The federal government introduced a national pharmacare program in 2024. Manitoba was among the first to sign on, partly leading to its Enhanced Pharmacare Program, which now offers birth control, diabetes and a few other medications at no cost to Manitobans.

Ottawa adding $5.4B for child care; provinces, advocates had warned progress at risk

The federal government is giving provinces and territories an additional $5.4 billion over two years for the national $10-a-day child-care program, money the minister is framing as stabilizing the program.

The program that started rolling out across the country in 2021 set ambitious targets for reducing the fees parents pay and creating hundreds of thousands of new spaces by this year, but those targets have not yet been met in many jurisdictions.

Jobs and Families Minister Patty Hajdu said Friday in an interview that she has heard the provinces' calls for more federal money, as many struggle to reduce fees, add spaces and recruit and retain enough early childhood educators in the face of rising costs and demand.

"Certainly, money has been part of the challenge," Hajdu said ahead of a meeting with provincial and territorial ministers.

Luxury tax on planes, cars yielded over $900M. Now it’s been scaled back

MONTREAL - A luxury tax on cars, planes and boats yielded more than $900 million before it was scaled back amid concerns about the negative effect on manufacturers.

In the two fiscal years between 2023 and 2025, the tax on pricey conveyances was pouring nearly $390 million a year into federal coffers — well over double the forecast from the Parliamentary Budget Office — according to figures obtained through an access-to-information request by The Canadian Press.

Backers of the tax say the windfall amounts to an unexpected success that vindicates the full levy and shows that wealthy individuals are more willing to spend on big-ticket items than authorities had presumed, despite the higher price tag. Critics argue that parts of the tax hurt key industries by discouraging purchases and fail to hold up under cost-benefit analysis, calling for a complete rollback.

Taking effect in September 2022, the measure imposed a 10 per cent tax on the full value of cars and planes priced over $100,000 and yachts over $250,000. Its purpose was to “ask those who have prospered ... to do a little more to help those who have not,” the 2021 federal budget stated.

Youth concern powers Futurpreneur applications

Groups offering support to young Manitoba entrepreneurs have clocked an uptick in traffic amid economic uncertainty.

Karen Greve Young is watching the applications roll in at Futurpreneur. The national non-profit offers loans and mentorships to Canadians ages 18 through 39 who are starting businesses.

Greve Young, Futurpreneur’s chief executive, expects a 50 per cent increase in applications this year over last. It follows growth of 15 per cent in 2025.

That year, Futurpreneur worked with more than 1,000 businesses.

What prediction market trading is and why it’s gaining popularity

Financial services company Wealthsimple announced Thursday that it will start offering a new form of investment based on real-world events.

The product is called prediction market trading and it's gaining increasing popularity around the world.

Here's a breakdown of how it works, what's driving its growth and what investors should beware of.

What are prediction markets?

Eager to work, teens find a frustrating summer job search

NEW YORK (AP) — Jaelyn Chester will wait your tables or stock your shelves. She’ll wash your dishes or scrub your toilets. If only someone would give the 17-year-old a chance.

“I’ve been looking everywhere,” says Chester, an A+ student, high school basketball star and aspiring engineer who has blanketed her community with dozens of applications. “I’m not unemployed because I’m incompetent. I’m unemployed because nobody’s hiring.”

The summer job, a rite-of-passage for generations of American teenagers, isn’t so easy to come by.

About one-third of 16- to 19-year-olds in the U.S. were employed last summer, federal data show, down from a peak of about 60% in the late 1970s. Experts’ pessimistic forecasts are combining with reports from frustrated jobless young people around the country to form a seasonal outlook far from bathed in sunshine.

Ottawa’s new surveillance pricing rules not likely to take effect before 2028

OTTAWA - The federal government wants to be "super careful" as it tackles surveillance pricing, Artificial Intelligence Minister Evan Solomon said after tabling the government's new privacy bill.

Under the plan outlined by Solomon, those rules on surveillance pricing are unlikely to be in place before 2028.

"It's very easy to say just ban using personal information to give personal pricing, because we have to be super careful that we don't want to penalize people who are members of a rewards program," Solomon said Monday in an interview with The Canadian Press.

The government introduced the bill Monday — its third attempt to update decades-old privacy laws covering the private sector.

CRTC gives Bell and Telus until Wednesday to drop fees or risk compliance actions

The CRTC has again issued warnings to Bell Canada and Telus Corp. over recently introduced fees the regulator says could be in violation of its new policy prohibiting telecoms from charging customers when they activate, change or cancel plans.

Inflation hitting Canadians where it hurts

Inflation bites. That’s especially true for a key element of a budget that’s challenging to go without: food.

Higher prices always eat away at spending power, but food price increases have devoured household budgets in recent years, Statistics Canada’s Consumer Price Index (CPI) data show.

Food cost increases may have peaked in Manitoba in 2022 at nearly 14 per cent, year over year. But even recent data shows prices rising 4.8 per cent, among the highest in Canada.

Households have little choice but to endure higher food costs, given they cannot go without, or they are increasingly turning to food banks and other community supports. Since 2020, the province’s food banks have logged a 150 per cent increase in use, a 2025 Harvest Manitoba report found.

Storm insurance claims could set Manitoba record

Manitoba is on pace to set a record for insurance claims related to this week’s storms.

Insurance brokers have been inundated with calls to assess and process claims for flooded basements and properties. Local insurer ONE Insurance said it has received more than 700 claims and expects to issue millions of dollars to its clients.

“It is definitely the single largest event that we’ve experienced in our organization,” said interim CEO Rey Girardin.

Residents in the RM of Rockwood, including in Stonewall and Balmoral, have submitted the most claims, he said.

Statistics Canada reports household debt outpaced income in first quarter

Statistics Canada says the amount Canadian households owe outpaced income for the sixth straight quarter.

SpaceX stock soars in debut and makes Elon Musk the first trillionaire

NEW YORK (AP) — Elon Musk became the world’s first trillionaire after shares of his rocket company SpaceX soared in Wall Street's biggest initial public offering of stock.

Shares in SpaceX jumped more than 19% after opening for trading Friday, a sign that investors are looking past the billions the company is losing and instead betting that its massive investments in satellites, orbital data centers and artificial intelligence will pay off in the future.

SpaceX opened around midday at $150 a share, then rose to around $168, before finishing the day just below $161. That price gave the company a market value of $2.1 trillion, making it the sixth largest public U.S. company — larger even than its founder and CEO's other big business, the electric vehicle maker Tesla.

Between his holdings in SpaceX and Tesla, where he is also CEO, Musk is now worth an estimated $1.1 trillion, according to Forbes.