News of the day: Trade deal in limbo, 'excessive' tax breaks, AI threats, giving up homeownership, business debt and more

Canada's banking regulator has elevated the risks that financial institutions face from artificial intelligence, after a series of incidents in the six months since its April annual risk outlook, when AI threats were not among its top concerns. The change follows the regulator's earlier assessment that AI-linked threats did not rank as a leading concern for the banking sector.

News of the day: Trade deal in limbo, 'excessive' tax breaks, AI threats, giving up homeownership, business debt and more It's Thursday, Oct. 8. Here are the top stories we're following today. Business groups warn of irreversible economic consequences if trade deal remains in limbo Industry groups urged Canadian and U.S. officials to get back to the negotiating table on trade, warning a House of Commons committee that prolonged uncertainty may have irreversible consequences for economic growth. Canada's 'excessive' tax breaks for mining sector risk distorting the economy, warn economists Canada's zeal to grow its critical mineral and mining sector has led to an "excessive" number of tax incentives, which risks distorting the economy by funnelling investment into marginal projects, says a new research paper. AI threats weren't a top concern for Canada's banking regulator, but a lot has changed in 6 months Threats linked to artificial intelligence were not one of the top concerns for Canada's banking regulator in April, when it released its annual risk outlook, but a series of incidents in the past six months have now led it to elevate the risks that financial institutions face due to AI. Canadians most likely to give up on homeownership, survey says Housing costs are making Canadians rethink homeownership, with many already giving up on the idea of ever owning a home. Back injuries and tariffs forced me to shutter my business. Do I still owe that debt? Your business may be closed, but you still have debt options. Acting now gives you the best chance of finding a solution that is both manageable and sustainable, expert says.