After reporting dismal first-quarter sales, Tesla is planning to lay off about a tenth of its workforce as it tries to cut costs, multiple media outlets reported Monday. CEO Elon Musk detailed the plans in a memo sent to employees. The layoffs could affect about 14,000 of the 140,473 workers employed by the Austin, Texas, company at the end of last year. Musk's memo said that asTesla prepares for its next phase of growth, it needs to look at every aspect of the company for cost cuts and increased productivity, The New York Times and CNBC reported. News of the layoffs was first reported by e

The first instalment of the 2024 Canada carbon rebate will be delivered to some Canadians today as long as they filed their taxes by the middle of March. Canadians living in Alberta, Saskatchewan, Manitoba, Ontario, and all four Atlantic provinces will receive the first of four instalments today if they filed their 2023 taxes by March 15. Those who filed their taxes since March 15 will see their first instalment on May 15, while those who file after today will wait until June or July. The payments are based on household size and for a family of four range from $190 in New Brunswick to $450 in

Prime Minister Justin Trudeau says he doesn't understand why the federal New Democrats are pulling back their support for the carbon price, though he acknowledges they are facing political headwinds. New Democrats have long been supporters of the climate policy, and even campaigned on it in the 2019 election. But this week, the NDP shifted its position, saying carbon pricing is not the "be-all, end-all" and encouraging premiers to come up with new ideas to reduce greenhouse-gas emissions. The NDP also backed a non-binding Conservative motion demanding that Trudeau sit down with provincial and

Here is a roundup of stories from The Canadian Press designed to bring you up to speed on what you need to know today... Walmart Canada says robots are coming to two Ontario warehouses, but jobs not at risk Walmart Canada is planning to bring robots to two Ontario distribution centres. Over the next five years, the retail giant says facilities it runs in Mississauga and Cornwall, Ont., will get outfitted with the technology already in use at its Calgary distribution centre. The Calgary centre has robots that transport pallets of merchandise and another device that mimics a giant arm that can u

The parliamentary budget officer says Canada would need to build 1.3 million additional homes by 2030 to eliminate the country's housing gap. The newly released report looks at how many more homes would need to be built restore Canada's vacancy rate to the historical average. The report by Yves Giroux also accounts for the number of additional households that would form if sufficient housing were available. Based on those benchmarks, the PBO estimates that Canada would need to build 181,000 more homes a year than it currently does. The report does not take into account recent federal efforts t

The Canadian government will allow 30-year amortization periods on insured mortgages for first-time homebuyers purchasing newly built homes. Finance Minister Chrystia Freeland made the announcement in Toronto today, saying it would take effect Aug. 1. The Canadian Home Builders' Association has advocated for longer amortization periods, saying five more years would help with affordability and spur more construction. Freeland also said the government will nearly double to $60,000 the amount first-time homebuyers can withdraw from RRSPs to buy a home. That's up from $35,000, to take effect April

Prime Minister Justin Trudeau is expected to testify today at an inquiry into foreign meddling in Canada's last two elections. The inquiry has already heard that China and other state actors attempted to interfere, but there has been little evidence so far to indicate whether they were successful. Trudeau has maintained over the last year that foreign interference had no meaningful impact on Canada's free and fair elections, which echoes what senior government officials have told Parliament. Several members of Trudeau's cabinet are also slated to testify, including government House leader Kari

Here is a roundup of stories from The Canadian Press designed to bring you up to speed on what you need to know today...BoC expected to hold policy rate at 5% today The Bank of Canada is set to announce its interest rate decision this morning. It's widely expected to maintain its key interest rate at five per cent, but economists will be watching for any hints about the timing of upcoming rate cuts. Forecasters expect the central bank to begin lowering its key rate in June as the economy continues to slow and inflation trends lower. High interest rates have slowed demand in the economy as co

Conservative Leader Pierre Poilievre is challenging Prime Minister Justin Trudeau to defend his carbon pricing policy in a televised "emergency meeting" with the country's premiers. The Conservatives tabled a motion this morning which demands that Trudeau sit down with provincial and territorial leaders within five weeks. MPs are expected to vote on the motion tomorrow. Poilievre says he believes Trudeau is "too scared" to hold the televised meeting because he knows the Liberal government is losing the carbon pricing debate. The Conservatives insist the carbon price is making life less afforda