Good morning, let’s get the brain circuits buzzing again after the long weekend. Here’s what’s happening in the world of business and tech:

• Equifax Canada is considering payday loans in credit score calculation.

• Spirit and Frontier removed change and cancellation fees.

• Wendys and McDonalds are in a breakfast battle.

• Microsoft launched AI-powered laptops.

• OpenAI and Scarlet Johanssons controversy.

• And more business and tech news.

Let’s get into it.

CREDIT 

💯 Payday loan data for credit score calculation

After rental payments, Equifax Canada is also exploring the inclusion of payday loans data for credit score calculations.

How does this impact you?
Including payday loan repayment data could improve credit scores for those who responsibly repay these loans, leading to better loan terms and interest rates.

On the other hand it could also negatively impact those who haven’t been consistent with paying off their payday loans.

Federal governments goal is to use alternative data like rental payment history and payday loan payments to help Canadian transition to homeownership.

Whether this is a good step forward or another hurdle for Canadians to get it homeownership, we aren’t so sure.

TRAVEL

✈️ Spirit Airline eliminates change and cancellation fees

Spirit Airlines have joined Frontier Airline to eliminate change and cancellation fees for all customers, marking a significant shift in budget airline policies.

The details:

• Bundled Package Offers: Both Spirit and Frontier are now offering bundled packages that include add-ons like checked baggage and early boarding, moving away from their previous à la carte pricing strategy.

• Price transparency: The Biden administration's new regulation requires airlines to be transparent about add-on fees and offer automatic cash refunds for cancellations.

FOOD & BEV

🥪 Wendy’s vs McDonald breakfast battle

McDonald’s (limited time) $5 breakfast meal deal has stirred up a breakfast battle as Wendy’s will now offer $3 breakfast meal starting Monday.

Since consumers are pulling back on dinning out, both restaurant chains are looking for new ways to drive more sales.

Who are you picking in this breakfast battle? 🍳 

AI

💻️ World’s first AI-powered laptop

Microsoft has released world’s first AI-powered laptop: Copilot+ PC. Plus, they have announced other key products and update.

4 new Microsoft product/features you need to know:

• Copilot+ PCs: Microsoft launched Copilot+ PCs, AI-first Windows hardware with dedicated NPUs for enhanced AI experiences, 16GB RAM, SSD storage, and powered by Qualcomm, Intel, and AMD chips. Starting at $999, these PCs are available for preorder.

• New Surface Devices: The latest Surface Laptop and Surface Pro models feature improved performance, battery life, and connectivity.

• Recall: Windows AI-powered feature which helps users find previously accessed apps and files.

• Live Translations : Live Captions with live translation which supports 40 languages.

🫣 OpenAI and Scarlett Johansson drama

Recently OpenAI launched some new ChatGPT updates and one of the features was AI talking. Users started noticing that the voice is very similar to Scarlett Johansson, which led her to hiring a legal counsel.

Johansson claims that OpenAI reached out to her last September to use her voice for ChatGPT 4.0 which she declined. However, it seems like the company has used the voice anyway, which angered her and now turned into a legal issue.

OpenAI is currently working on removing the “Sky” voice from ChatGPT to avoid a big lawsuit.

Our thoughts: One thing we can agree on, OpenAI never fails to keep things interesting. Always on top of AI headlines, whether that be with new features, updates, company politics or controversies.

• 📈 Manulife up 20% YTD, thanks to their strong growth in Asia and Wealth Management business.

• 🫂 Bumble acquired Geneva app to expand into friendships and community building. Geneva is an online platform built to form real-world communities, clubs and groups.

• 🚴 Peleton launches global refinancing to buy back its debt and extend loan maturities. The fitness company is privately offering $275M in convertible senior notes.

• 🏦 JP Morgan CEO Jamie Dimon, 68 years old is hinting towards retirement. Jamie has held the CEO position since 2006.

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