Business Brief: In a global tech outage, paper’s enduring role unfolds

No one is saying Friday’s global tech outage means office paper is about to disrupt screens, but the meltdown showed how the centuries-old technology still has an important place in the cloud-storing, AI-innovating, quantum-computing year of 2024. Today, ahead of a Bank of Canada rate announcement, a debate about artificial diamonds, and a surprise hero in a 2,000-year-old technology, we play rock, paper, scissors.

A second-consecutive cut could have more impact than the first, as analysts predict the move will give consumers more comfort borrowing to buy a house, opening their wallets ahead of upcoming mortgage renewals, and taking out loans to buy new cars.Major airlines, banks, broadcasters and all manner of industry were brought to their knees by an errant software update. Around the world, an unlikely plant-based hero emerged.

He noted there are populations around the world that continue to rely on paper. Not everyone has the access, experience or trust in a “completely digital experience,” he said. But perhaps a more obvious benefit to the industry from the world’s accelerating digital shift is sitting right now on millions of front porches. Brian McClay, a global pulp market analyst based in Quebec, said the rise of online retail has spurred an increased need for paper packaging that is poised to spike over the coming years.

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