It's Thursday, May 14. Here are the top stories we're following today.
Bank of Canada Says AI Is Moving the Needle on Productivity, but Gap with U.S. Still Wide
The benefits of artificial intelligence are starting to show up in Canada's economic and productivity data, but the technology brings with it risks and challenges, too, one of the Bank of Canada's external deputy governors told a conference in Ottawa this week. AI adoption rates in Canada trail behind the U.S., according to recent reports.
Who Is Incoming U.S. Federal Reserve Chair Kevin Warsh and What Will His Tenure Mean for Canada?
A former Wall Street banker, White House advisor and U.S. Federal Reserve governor, Kevin Warsh says he wants to bring a policy "regime change" to the central bank. The Financial Post looks at his career, his views on Fed independence and what his appointment might mean to Canada.
Canada on Track for a Top 10 AI Supercomputer, Solomon Says
Canada is on track to build an AI supercomputer so powerful it could crack the top 10 to 15 globally, says AI and Digital Innovation Minister Evan Solomon. The announcement comes as part of a broader push to boost Canada's competitiveness in artificial intelligence.
National Home Sales Up Marginally in April, Still Outpaced by New Listings
The Canadian housing market posted a modest gain in April but remains tilted in buyers' favour as it moves through the spring sales season. New listings continue to outpace sales, keeping the market balanced.
Two Taxpayers in Trouble with CRA over TFSAs Got Their Day in Court. One Went Well, the Other Did Not
It seems that taxpayers are regularly getting into tax-free savings account (TFSA) trouble with the Canada Revenue Agency, either for accidentally overcontributing, or, in rarer situations, for breaching the TFSA "advantage" rules. This month alone, the courts have already released two TFSA decisions. One went well, the other did not, writes Jamie Golombek.
Stay tuned for more updates on these stories throughout the day.
