Connect with us
[the_ad id="89560"]

Business

Indigo creates temporary website for browsing after cyberattack

Published

4 minute read

By Tara Deschamps in Toronto

Indigo Books & Music Inc. has created a temporary website for its customers to browse for books and gifts after a cyberattack halted the company’s online operations last week.

In a notice posted to the new site Friday titled “shop in store, window-shop online,” the Toronto-based retailer said the temporary website only allows for browsing and it is still not possible to make Indigo purchases online.

The company did not offer a timeline for when its website or app, which is also unavailable, might return.

“We are working hard to provide the seamless online shopping experience that our customers have come to expect,” the note read.

“Please check back daily for updates and progress.”

The temporary website was launched more than a week after Indigo first notified customers of a “cybersecurity incident” that left it unable to process electronic payments, including through its website.

When the incident began Feb. 8, Indigo was only able to process purchases made in store with cash, but some of its services, including credit and debit payments and some return capabilities, have since been restored.

The company has said it immediately engaged third-party experts to investigate and resolve the matter, but has still not explained the nature of the incident or what caused it.

“Our investigation is under way but not yet complete,” it added Friday.

The incident has placed many of Indigo’s sales in jeopardy as customers must purchase items in brick-and-mortar stores and were only able to make purchases in cash for much of the outage. Though debit and credit cards are now accepted at stores, the overall impact on Indigo’s sales will be felt more deeply the longer the other problems persist.

Its investigation has so far not found any instances of customer credit or debit cards being compromised, but it has not completely ruled such a breach out.

“If at any point in the future we determine that personal data has been compromised, we commit to contacting those impacted directly,” Indigo wrote in its Friday note.

The company has also assured customers that points distributed through its Plum loyalty program have not been impacted, but redemptions, sign-ups, or renewals are not currently possible.

However, customers can still receive Plum discounts for purchases made in store while the incident is ongoing. Points will be issued at a future date as long as shoppers retain their receipts.

Plum points typically expire when a customer doesn’t make a qualifying purchase within 12 months. Shoppers with points set to expire in February, will see their expiration date extended to March 31, Indigo said.

The company has also extended the 30-day exchange or return timeline for purchases that had to be brought back between Feb. 8 and 15. Customers with such items will now have until Feb. 21 to make returns.

The retailer remains unable to cancel orders placed before the incident, but said once the issue is resolved, it will provide refunds. It is also unable to offer order status updates or estimated delivery timelines for people awaiting shipments from Indigo.

This report by The Canadian Press was first published Feb. 27, 2023.

Companies in this story: (TSX:IDG)

Storytelling is in our DNA. We provide credible, compelling multimedia storytelling and services in English and French to help captivate your digital, broadcast and print audiences. As Canada’s national news agency for 100 years, we give Canadians an unbiased news source, driven by truth, accuracy and timeliness.

Follow Author

Business

Is Government Inflation Reporting Accurate?

Published on

The Audit David Clinton's avatar David Clinton

Who ya gonna believe: official CPI figures or your lyin’ eyes?

Great news! We’ve brought inflation back under control and stuff is now only costing you 2.4 percent more than it did last year!

That’s more or less the message we’ve been hearing from governments over the past couple of years. And in fact, the official Statistics Canada consumer price index (CPI) numbers do show us that the “all-items” index in 2024 was only 2.4 percent higher than in 2023. Fantastic.

So why doesn’t it feel fantastic?

Well statistics are funny that way. When you’ve got lots of numbers, there are all kinds of ways to dress ‘em up before presenting them as an index (or chart). And there really is no one combination of adjustments and corrections that’s definitively “right”. So I’m sure Statistics Canada isn’t trying to misrepresent things.

But I’m also curious to test whether the CPI is truly representative of Canadians’ real financial experiences. My first attempt to create my own alternative “consumer price index”, involved Statistics Canada’s “Detailed household final consumption expenditure”. That table contains actual dollar figures for nation-wide spending on a wide range of consumer items. To represent the costs Canadian’s face when shopping for basics, I selected these nine categories:

  • Food and non-alcoholic beverages
  • Clothing and footwear
  • Housing, water, electricity, gas and other fuels
  • Major household appliances
  • Pharmaceutical products and other medical products (except cannabis)
  • Transport
  • Communications
  • University education
  • Property insurance

I then took the fourth quarter (Q4) numbers for each of those categories for all the years between 2013 and 2024 and divided them by the total population of the country for each year. That gave me an accurate picture of per capita spending on core cost-of-living items.

Overall, living and breathing through Q4 2013 would have cost the average Canadian $4,356.38 (or $17,425.52 for a full year). Spending for those same categories in Q4 2024, however, cost us $6,266.48 – a 43.85 percent increase.

By contrast, the official CPI over those years rose only 31.03 percent. That’s quite the difference. Here’s how the year-over-year changes in CPI inflation vs actual spending inflation compare:

As you can see, with the exception of 2020 (when COVID left us with nothing to buy), the official inflation number was consistently and significantly lower than actual spending. And, in the case of 2021, it was more than double.

Since 2023, the items with the largest price growth were university education (57.46 percent), major household appliances (52.67 percent), and housing, water, electricity, gas, and other fuels (50.79).

Having said all that, you could justifiably argue that the true cost of living hasn’t really gone up that much, but that at least part of the increase in spending is due to a growing taste for luxury items and high volume consumption. I can’t put a precise number on that influence, but I suspect it’s not trivial.

Since data on spending doesn’t seem to be the best measure of inflation, perhaps I could build my own basket of costs and compare those numbers to the official CPI. To do that, I collected average monthly costs for gasolinehome rentals, a selection of 14 core grocery items, and taxes paid by the average Canadian homeowner.¹ I calculated the tax burden (federal, provincial, property, and consumption) using the average of the estimates of two AI models.

How did the inflation represented by my custom basket compare with the official CPI? Well between 2017 and 2024, the Statistics Canada’s CPI grew by 23.39 percent. Over that same time, the monthly cost of my basket grew from $4,514.74 to $5,665.18; a difference of 25.48 percent. That’s not nearly as dramatic a difference as we saw when we measured spending, but it’s not negligible either.

The very fact that the government makes all this data freely available to us is evidence that they’re not out to hide the truth. But it can’t hurt to keep an active and independent eye on them, too.

1 After all, taxes are certainly a major part of our cost of living, right? And even though you could argue that tax payments deliver benefits like “free” healthcare, well transportation expenses also deliver benefits (like the ability to get to work).

Subscribe to The Audit

For the full experience, upgrade your subscription.

Continue Reading

2025 Federal Election

Carney’s Hidden Climate Finance Agenda

Published on

From Energy Now

By Tammy Nemeth and Ron Wallace

It is high time that Canadians discuss and understand Mark Carney’s avowed plan to re-align capital with global Net Zero goals.

Mark Carney’s economic vision for Canada, one that spans energy, housing and defence, rests on an unspoken, largely undisclosed, linchpin: Climate Finance – one that promises a Net Zero future for Canada but which masks a radical economic overhaul.

Regrettably, Carney’s potential approach to a Net Zero future remains largely unexamined in this election. As the former chair of the Glasgow Financial Alliance for Net Zero (GFANZ), Carney has proposed new policiesofficesagencies,  and bureaus required to achieve these goals.. Pieced together from his presentations, discussions, testimonies and book, Carney’s approach to climate finance appears to have four pillars: mandatory climate disclosures, mandatory transition plans, centralized data sharing via the United Nations’ Net Zero Data Public Utility (NZDPU) and compliance with voluntary carbon markets (VCMs). There are serious issues for Canada’s economy if these principles were to form the core values for policies under a potential Liberal government.

About the first pillar Carney has been unequivocal: “Achieving net zero requires a whole economy transition.”  This would require a restructuring energy and financial systems to shift away from fossil fuels to renewable energy with Carney insisting repeatedly in his book that “every financial [and business] decision takes climate change into account.” Climate finance, unlike broader sustainable finance with its Environmental, Social, and Governance (ESG) focus would channel capital into sectors aligned with a 2050 Net Zero trajectory. Carney states: “Companies, and those who invest in them…who are part of the solution, will be rewarded. Those lagging behind…will be punished.”  In other words, capital would flow to compliant firms but be withheld from so-called “high emitters”.

How will investors, banks and insurers distinguish solution from problem? Mandatory climate disclosures, aligned with the International Sustainability Standards Board (ISSB), would compel firms to report emissions and outline their Net Zero strategies. Canada’s Sustainability Standards Board has adopted these methodologies, despite concerns they would disadvantage Canadian businesses. Here, Carney repeatedly emphasizes disclosures as the cornerstone to track emissions data required to shift capital away from “high emitters”. Without this, he claims, large institutional investors lack the data on supply chains to make informed decisions to shift capital to businesses that are Net Zero compliant.

The second pillar, Mandatory Transition Plans would require companies to map a 2050 Net Zero trajectory for emission reduction targets. Failure to meet those targets would invite pressure from investors, banks, or activists, who may pursue litigation for non-compliance. The UK’s Transition Plan Task Force, now part of ISSB, provides this standardized framework. Carney, while at GFANZ, advocated using transition plans for a “managed phase-out” of high-emitting assets like coal, oil and gas, not just through divestment but by financing emissions reductions. “As part of their transition planning, [GFANZ] members should establish and apply financing policies to phase out and align carbon-intensive sectors and activities, such as thermal coal, oil and gas and deforestation, not only through asset divestment but also through transition finance that reduces real world emissions. To assist with these efforts GFANZ will continue to develop and implement a framework for the Managed Phase-out of high-emitting assets.” Clearly, the purpose of this is to ensure companies either decarbonize or face capital withdrawal.

The third pillar is the United Nations’ Net Zero Data Public Utility (NZDPU), a centralized platform for emissions and transition data. Carney insists these data be freely accessible, enabling investors, banks and insurers to judge companies’ progress to Net Zero. As Carney noted in 2021: “Private finance is judging…banks, pension funds and asset managers have to show where they are in the transition to Net Zero.” Hence, compliant firms would receive investment; laggards would face divestment.

Finally, voluntary carbon markets (VCMs) allow companies to offset emissions by purchasing credits from projects like reforestation. Carney, who launched the Taskforce on Scaling VCMs in 2020, has insisted on monitoring, verification and lifecycle tracking.  At a 2024 Beijing conference, he suggested major jurisdictions could establish VCMs by COP 30 (planned for 2025 in Brazil) to create a global market. If Canada mandates VCMs, businesses especially small and medium enterprises (SMEs) would face much higher compliance costs with credits available only to those that demonstrate progress with transition plans.

These potential mandatory disclosures and transition plans would burden Canadian businesses with material costs and legal risks that constitute an economic gamble which few may recognize but all should weigh. Do Canadians truly want a government that has an undisclosed climate finance agenda that would be subservient to an opaque globalized Net Zero agenda?


Tammy Nemeth is a U.K.-based strategic energy analyst. Ron Wallace is an executive fellow of the Canadian Global Affairs Institute and the Canada West Foundation.

Continue Reading

Trending

X