Another delivery system disruption as DHL Express Canada locks out workers and union strikes
Unifor says DHL Express Canada locked out workers just after midnight today as the two sides failed to reach a contract deal, injecting more labour turmoil into the country's parcel delivery market.
Article content
The union, which represents 2,100 truck drivers, couriers and warehouse workers across seven provinces, says they went on strike in response at 11 a.m. ET.
Article content
Article content
Unifor says the German-owned carrier is proposing to change the driver pay system and planning to use replacement workers before legislation banning them comes into effect on June 20.
Article content
Article content
The work stoppage, which affects package delivery across the country, comes as Canada Post remains at loggerheads with 55,000 workers, whose union last month imposed an overtime ban that scales back parcel services.
Article content
Article content
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
12 minutes ago
- Globe and Mail
Scammers are impersonating finance experts to steal millions – and the real ones are struggling to stop it
Last week, Bank of Montreal chief investment strategist Brian Belski became the latest finance heavyweight to warn his social-media followers about imposters posing as him to scam investors. Mr. Belski alluded to bogus Instagram and Facebook ads under the account name 'BMO Belski,' which sought to lure users to investment groups on WhatsApp through AI-generated videos and other content. 'To be clear: I only post from this official LinkedIn account and do not engage on other social platforms,' the real Mr. Belski wrote on LinkedIn. To those who've seen the hyper-realistic videos purporting to show Mr. Belski turning his head from side to side, promising to 'share three stock picks and the latest market insights every day' with his WhatsApp community, this may have come as a surprise. While scams impersonating celebrities and politicians have proliferated for years, fraud targeting investors through fake advice from big names in finance is now multiplying, with the real experts struggling to get the content taken down. Law enforcement, legal experts and social-media giants are split on who should take the blame. Last week, prominent Bay Street economist David Rosenberg spoke out about a scam that used his identity, telling The Globe and Mail that several investors reported collective losses to his firm exceeding $1-million. Victims were lured to WhatsApp groups recommending stocks that swung dramatically in price, creating the illusion of quick profits. Once investors put in more money, the stocks' prices plummeted. Mr. Rosenberg and his firm reported the scam to both Meta Platforms Inc. and the police but eventually went public after the ads continued to circulate for months. David Rosenberg says investment scam using his name bilked victims out of hundreds of thousands of dollars Meta spokesperson Julia Perreira said the content of those ads violated the company's policies and it removes scam ads when detected. In March, Financial Times economics commentator Martin Wolf and his colleagues played 'whack-a-mole' with Meta, trying to take down deepfakes of him giving investment advice. 'The voice didn't sound fully like me,' Mr. Wolf said in an interview, adding that his avatar did look convincing otherwise. Data from Meta's Ad Library seen by Mr. Wolf and his colleagues revealed that the ad reached nearly one million users by the end of April in the EU alone. Roughly 960,000 were reached after the Financial Times first notified Meta about the deepfakes. In Canada, net losses from investment scams where the initial contact was on social media have risen 95 per cent since 2021, reaching $128.4-million last year, according to the Canadian Anti-Fraud Centre. Meanwhile, the number of reported victims has fluctuated, suggesting that the scams are becoming more ambitious in how much money they steal. 'Fraud is not only becoming more common, it's becoming more convincing,' said Detective David Coffey of the Toronto Police Service's Financial Crimes Unit. 'That is really what we're seeing with AI – they're scraping the internet for these legitimate businesses and they're utilizing them to commit their own frauds.' People may also be losing more money to imposter scams because it's become difficult to grow investments the traditional way, said Tanya Walker, managing partner at Walker Law, who specializes in fraud litigation. 'Thirty years ago, interest rates could have been 16 per cent,' she said. 'For quite some time, our interest rates have been low.' She said investors may think to themselves, ' 'Why am I going to invest in a GIC with the bank at 3-per-cent interest when I could get 14 or 15 per cent?' ' Who should be held accountable for these scams is a divisive question. 'Once it gets to be a police report, it's too late,' Det. Coffey said. Most investment scams targeting Canadians are orchestrated from outside the country and across regions where local officials are not friendly to Canadian law enforcement, he said. But Kenneth Jull, partner at Gardiner Roberts LLP, specializing in financial crimes and corporate compliance, said relying on social-media companies to police their clients is both logistically and legally challenging. 'They wouldn't have the resources to do it, even if they wanted to,' he said. Under Canadian law – and similarly in the United States – social platforms have limited legal liability for users' content based on the safe harbour principle, said Mark Lokanan, a professor at Royal Roads University specializing in AI-driven financial-crime investigations. 'They are not liable as long as they do not actively curate, endorse or participate in the scam.' But the law does hold tech giants responsible when there's credible notice and willful blindness, Mr. Jull said. The case of YesUp eCommerce set a precedent. It was the first Canadian case where a server company was convicted for child pornography because of willful blindness, Mr. Jull said. In that case, YesUp was warned more than 200 times about illegal content. However, Prof. Lokanan said the burden of proof can make legal action difficult. Det. Coffey said Canada has fallen behind global peers on prevention and apprehension of imposter scams. Australia has created a national fraud-fighting agency and brought social-media and telecom companies into the fold. Australia's reported scam losses fell by almost 26 per cent in 2024 from the previous year, according to official statistics. But Mr. Jull said Canadian law enforcement can do more to work with foreign officials to apprehend perpetrators, citing the Corruption of Foreign Public Officials Act and its enforcement as an example. 'We don't sit back and say, 'Well, it's Russia, nothing we can do,'' he said. But Mr. Wolf's case suggests that as much as Meta may be facilitating the problem, it might be in the best position to help solve it. Shortly before Mr. Wolf published his column on the experience, Meta enrolled him in a new program that uses facial recognition to compare legitimate images of public figures against potential scam content. 'Nobody has been bringing the scam to my attention since,' Mr. Wolf said.
Globe and Mail
an hour ago
- Globe and Mail
Will Quantum Computing Stocks Soar in the Second Half?
Quantum computing stocks skyrocketed in 2024, with names such as Quantum Computing and Rigetti Computing surging by more than 1,000%. Investors were eager to get in on what could become the next game-changing technology, and revenue growth as well as scientific progress from some of these quantum specialists boosted optimism. Even after those gains, it's very possible that quantum stocks will climb in the second half of this year, and here's why. Why investors buy quantum computing stocks So, first, a quick note about why investors see so much potential in quantum computing. This is because this type of computing, based on quantum mechanics, makes it possible to solve problems that today's classic computers can't handle. Quantum computing can do this by using qubits -- instead of the bits used by today's computers -- to store data. And while bits store and process data as zeros or 1s, qubits can represent a zero, a one, or both at the same time. This allows for tremendous scaling, and as a result, a problem that would take a classic computer 1,000 years to solve may take a quantum machine about five minutes. Right now, quantum companies offer hardware and services to customers, but we're still in the early stages of development. Experts have said that truly useful quantum computers are several years away. The good news is that this means these companies have plenty of room to run when it comes to revenue growth and share price performance. It's clear that if quantum companies reach their development goals, these computers could revolutionize many industries. Quantum stocks in 2024 and 2025 All of this helped quantum computing pure-play companies climb last year. The bull market and optimism about the economy ahead offered the perfect environment for growth stocks to excel. But in recent months, concerns about President Donald Trump's import tariff plan weighed on these players. The idea was that tariffs could lead to higher prices at home, prompting customers of quantum companies to rein in their spending. But over the past few weeks, progress in trade talks and even initial deals with the U.K. and China have made investors more optimistic about the future. And corporate earnings haven't suggested any slowdown in spending on technology -- in fact, companies continue to reiterate their commitments to such projects. This backdrop supports the idea of more gains for quantum companies in the second half, especially for certain players such as Rigetti and IonQ, which haven't yet fully recovered -- they're down 25% and 5%, respectively, year to date. And if they show some growth in revenue in the coming quarters, this could act as a positive catalyst for share performance, too. Can D-Wave keep soaring? But this doesn't mean that stocks that have continued to advance, such as D-Wave Quantum (NYSE: QBTS), which is heading for an increase of more than 80%, won't keep on rising. For example, D-Wave just recently released its Advantage2 quantum computer, which is accessible both on the cloud and on-premises. More than 20 million customer problems have been run through the prototype, and the company says the computer is now ready for use in areas such as materials simulation and artificial intelligence (AI). Uptake of this new platform and further revenue gains -- D-Wave's revenue last quarter soared 500% to a record $15 million -- could offer this highflier an additional boost. Of course, it's important to keep in mind that these pure-play quantum companies aren't yet profitable and are involved in a relatively new, cutting-edge technology, and that involves some risk. Any economic headwinds could hurt investors' appetite for these sorts of players. These companies depend on a strong economy, as this increases the likelihood that potential customers will spend on their products and services. And investors generally feel more comfortable getting in on growth stocks when the economy is thriving. So, the economic situation in the second half could determine the near-term direction of these players. But right now, there's reason to be optimistic that the U.S. trade talks, along with some better-than-expected economic data, signal better days ahead -- and that the worst-case scenario of a recession and tough times for corporate earnings will be averted. With this in mind, quantum computing stocks could be set to soar in the second half as investors look to get in on the next big technology that could deliver explosive returns. Should you invest $1,000 in D-Wave Quantum right now? Before you buy stock in D-Wave Quantum, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and D-Wave Quantum wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $664,089!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $881,731!* Now, it's worth noting Stock Advisor 's total average return is994% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025
CTV News
2 hours ago
- CTV News
Provincial funding provided to Township of Pelee and five municipalities after flooding events
The Ontario government recently announced funding to help pay for costs caused by flooding in the Township of Pelee and five municipalities in Timiskaming District. Up to $730,000 will be provided through the Municipal Disaster Recovery Assistance program to help pay for emergency response costs and the repair and rebuilding of critical infrastructure, the government announced on June 20. The funding comes after flooding events caused significant damage in August 2023 and April 2024. The township of Pelee will receive up to $46,000, while the Timiskaming District will receive $648,000. Rob Flack, Minister of Municipal Affairs and Housing, said the financial support will help repair local infrastructure, protect jobs and keep people safe. 'Our government is stepping up to support our municipalities suffering from extensive damage due to unexpected natural disasters,' said Flack in a statement. The flooding in August 2023 resulted in significant costs to the Township of Pelee, such as fuel to operate pumps and repair damaged roads. In April 2024, heavy rainfall combined with frozen ground resulted in flooding which damaged municipal infrastructure in the Township of Armstrong, Township of Chamberlain, Municipality of Charlton and Dack, Township of Kerns and Township of McGarry. Municipalities receive funding under the program if operating and capital costs are over and above regular municipal budgets and linked directly to the disaster.
