Inflation dips, Scotiabank cuts workforce and Toronto’s The One put into receivership: Business and investing news for October 22

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Plus, Rob Carrick asks: Are you using your TFSA and RRSP in the correct way?

Getting caught up on a week that got away? Here’s your weekly digest of the Globe’s most essential business and investing stories, with insights and analysis from the pros, stock tips, portfolio strategies and more.The arrival of generative AI “has been heralded as a step-change equivalent to the spread of the internet in the 1990s or smartphones in the 2000s.” Ever since OpenAI released ChatGPT in November, 2022, tech companies everywhere are looking to capture its potential benefits.

as the lenders faced mounting expenses and rising provisions for potential loan defaults. Scotiabank’s restructuring plans mark chief executive officer Scott Thomson’s first major move to slash costs since taking on the top job in February, Stefanie Marotta reports.a quick primer on the differences. He writes that “saving money in an RRSP or TFSA is a net positive, but there are consequences if you don’t get the choice right.” According to a recent Retirement and Savings Institute study, contributions into the “wrong” savings account can lower your return on savings. The study found that almost half of all households have a TFSA and that 36 per cent have both TFSAs and RRSPs.

 

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