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BEIJING - Asian stock markets were mixed Thursday after the U.S. economy contracted and China reported stronger factory activity. Shanghai and Hong Kong gained, while Tokyo and Seoul declined. Oil prices advanced. Wall Street's benchmark S&P 500 index edged down 0.1% on Wednesday after data showed the U.S. Source

Air Canada is planning to reduce its flights in July and August, according to a statement from the company’s president, as the airline continues to deal with “customer service shortfalls.” “Regrettably, things are not business as usual in our industry globally, and this is affecting our operations and our ability to serve you with our normal standards of care,” Michael Rousseau wrote. Source

Air Canada will cut dozens of daily flights this summer as the airline grapples with a series of challenges amid soaring demand for travel. "Regrettably, things are not business as usual in our industry globally, and this is affecting our operations and our ability to serve you with our normal standards of care," Michael Rousseau, the airline's president and CEO, said in a statement released Wednesday. Source

Canada could face a summer of strikes and other labour disruptions as workers demand cost-of-living increases and better conditions than those seen throughout the past two years of the pandemic, say union officials and other observers. Hundreds of thousands of health and education workers are among those whose unions and employers will be at the bargaining table over the coming months, alongside others in transport, trades, food retail and other sectors. Source

Bed Bath and Beyond CEO Mark Tritton is out after only three years at the helm of the rapidly sinking retailer. The beleaguered company announced multiple changes to its leadership Wednesday, including replacing Tritton. Source

PORT CANAVERAL, Fla. - Chief Executive Bob Chapek is set to christen Walt Disney's first new cruise ship in a decade on Wednesday, the culmination of the first project the former theme parks executive championed to the company's board of directors. Source

JERUSALEM - A new agreement in Israel will put Ben & Jerry's ice cream back on shelves in annexed east Jerusalem and the occupied West Bank despite the ice cream maker's protest of Israeli policies, according to Unilever, the company that owns the brand. Source

A commissioner with the U.S. communications regulator is asking Apple and Google to consider banning TikTok from their app stores over data security concerns related to the Chinese-owned company. Brendan Carr, a commissioner with the Federal Communications Commission (FCC), has written a letter to the CEOs of both companies, alerting them that the wildly popular video-sharing app does not comply with the requirements of their app store policies. Source

Ernst & Young has been slapped with a record US$100 million fine from the U.S. government after regulators discovered that the company knew some of its auditors were cheating on exams for several years and did nothing to stop it. Source

MOSCOW - As the ruble strengthens to levels not seen in seven years, Russia's minister of economic development warned Wednesday that the country's businesses could suffer if the trend persists. The ruble hit all-time lows in the first weeks after Russia sent troops into Ukraine in late February, dropping as much as 50%, to 150 against the U.S. Source