24News.ca

TORONTO - Starbucks Canada says it's raising wages and benefits amid "critical staffing shortages" and a renewed commitment to the well-being of its workers. Beginning in January, the company says its starting wages will be increased to a dollar above provincial minimums, while workers who have been with the company a year will receive a six to 10 per cent pay hike. Source

A vehicle struck and killed a United Auto Workers member Wednesday as he was walking to a picket line to join striking workers outside a John Deere distribution plant in northwest Illinois, the union and police said. Source

LONDON - European Union regulators opened an investigation Wednesday into graphics chipmaker Nvidia's US$40 billion purchase of chip designer Arm over concerns it would limit competition, adding to global scrutiny of the deal. The European Commission said it's concerned the combined company would have the ability and incentive to restrict access to technology from United Kingdom-based Arm Ltd. Source

TOKYO - The defence for former Nissan executive Greg Kelly said Wednesday there was no evidence or motives linking him to alleged under-reporting of his ex-boss Carlos Ghosn's compensation. Kelly's chief defence lawyer, Yoichi Kitamura, said in wrapping up the defence's arguments that Kelly is innocent and he had no knowledge of the complex calculations over Ghosn's unpaid remuneration, tabulated and updated by Nissan Motor Co. Source

Boeing is reporting a loss of US$109 million for the third quarter as it struggles to resume deliveries of the 787, a large plane that is popular on international airline routes. The loss that Boeing reported Wednesday is narrower than a year ago, however. Source

PARIS -- A hike in the cost of wheat is alarming French households who fear a possible rise in the price of the prized baguette, seen by many as a barometer of the country's economic health. Source

Canada's central bank is keeping its benchmark policy interest rate right where it is, but is signalling that higher rates are coming soon. In its latest policy decision, the Bank of Canada opted Wednesday to hold its benchmark rate steady at 0.25 per cent, the same level it has been throughout the pandemic. Source

OTTAWA - The Bank of Canada is warning inflation will stay higher for longer than it previously forecast and signalled that an interest rate hike may be coming sooner than expected. The central bank said Wednesday it now forecasts that annual inflation rates will continue their upward swing through the rest of year, averaging 4.75 per cent, and be 3.4 per cent next year, up from its previous forecast of 2.4 per cent, before coming back to its two per cent target by 2023. Source

OTTAWA - The Bank of Canada is warning inflation will stay higher for longer than it previously forecast and signalled that an interest rate hike may be coming sooner than expected. The central bank said Wednesday it now forecasts that annual inflation rates will continue their upward swing through the rest of year, averaging 4.75 per cent, and be 3.4 per cent next year, up from its previous forecast of 2.4 per cent, before coming back to its two per cent target by 2023. Source

McDonald's reported quarterly U.S. sales on Wednesday that beat Wall Street expectations, helped by higher prices, larger order sizes and newer menu items such as the crispy chicken burger. The company's shares rose 3% to US$243.30 in premarket trading, as the fast food giant's global same-store sales jumped 12.7% in the third quarter ended Sept. Source