CBOT - Thursday, May 23, 2024 - 06:00 a.m. (ET) - Segment #4

krystalle, another story here. It seems like people are holding onto their vehicles for longer. I know we upgraded to an eight-year-old car after selling our 15-year-old car to a used car lot. What is behind the overall trend? >> Krystalle: high prices not surprising here for new vehicles are forcing people to keep their old vehicles for longer. The average age of a vehicle in the U.S. hit a record of almost 13 years. The average new vehicle selling price was just over $45,000 U.S. last month. So you can see the -- >> Hallie: hold onto your old one as long as it will go. >> Krystalle: the average vehicle age grew two months, but the growth in the average age is slowing as new vehicle sales start to recover from pandemic-related shortages of parts including computer chips. Remember in the pandemic if someone got a new car, it would take six or nine months for them to get it. I said it was slowing, so the average increased by three months. Here is todd campo with global mobility which tracks global data. >> Right now the price is partially staying high when you look at the overall combined cost of buying a vehicle, it is the second-biggest purchase for most households. We were used to 0%, 2% interest rates and now we're seeing 7%, 8%, 9% 10% for auto loans. Not only is the sticker price high but the interest on top of that is making the monthly fee more. >> Krystalle: people are holding onto their vehicles for longer to see if they want an electric or a hybrid vehicle. They want to worry about travelling without running out of battery. Also vehicles are lasting longer. And people keeping vehicles is good for the business of auto shops. About 70% of vehicles on the road are six years older or more. They no longer have their manufacturing warranties. >> Hallie: the artificial intelligence company OpenAI signed a new deal. We're wondering what that might involve. What are the details? >> Krystalle: yes, it signed a new deal that will give it access to content from some of the biggest news organizations owned by news corp. The deal comes weeks after the microsoft-backed A.I. giant landed a licensed content deal from the "the new york times." access to troves of data can help enhance content produced by OpenAI'S ChatGPT. We know that the chatbot that can create responses and even creepy responses. Such partnerships are also crucial to the training of A.I. models. They can be lucrative for news publishers which have traditionally been denied a slice of the profits of internet gains earned from distributing their content OpenAI also struck a content deal with social media platform reddit last week. Other publishers such as "the new york times" decided to battle OpenAI in court saying their content was used without permission. OpenAI says that lawsuit is without merit. OpenAI didn't disclose the financial details, but "the wall street journal" reported it could be worth more than $250 million over five years. >> Hallie: in the markets this morning, krystalle? >> Krystalle: so in europe markets are up. As investors assess U.K. inflation and euro zone data. Germany, the U.K. and france are all up. In asia markets are mixed. Japan is up, shanghai and hong kong are both down. Oil is up 60 cents to $# 78.17 U.S. per barrel. And gold is down to $2,363.40 U.S. per ounce. And the dollar is up .14 of a cent to 73.16 cents U.S. >> Hallie: okay. Thanks very much, krystalle. >> Krystalle: thanks, hallie. >> Hallie: that's krystalle ramlakhan with the business news. [ ] >> Hallie: 15 minutes before 7:00. Mostly cloudy heading to a high of 26° today. This month volunteers who normally work in government finance were being assigned by a woman in rubber boots with dirt under her fingernails. The public servants were pushing wheel barry bare rows -- wheelbarrows of dirt. This was in the name of beautifying an overgrown garden at a seniors building. The plant destined to replace the deadwood was rescued.

amanda foote is headed to westboro. >> Reporter: this is like your bat moeble but your plant mobile? >> It's definite. My car has seen a better day between this and the husky. >> Reporter: give me a tour. >> There are peonyies and laverned. I am on the board of the westboro community association. Basically, westboro being the epicentre of infill development, there are a lot of houses coming down and a lot of those homes have beautiful shrubs and plants. I don't want to see them go on death row. So we ended up transplanting a lot of them into claire gardens park. Now we have these fairly mature established gardens throughout the park. >> Reporter: now there are more and more plants that need your attention. >> Well, I got a massive I can only describe it as a massive donation. This home on high craft was the glory of that street. This lady has so many plants. She had no lawn, only garden. The neighbours used to be literally invited mother's day to pick her tulips to give them to their moms. I contacted the developer and he said, take all the plants you want, and I'll work with you to tell you when I have my demolition permit because that's when we have to end it. Literally for the last three weeks we've been in there rescuing plants. For example, 20 of the lupin are going to the hintonburg community centre to be transplanted in their pollinator garden. Some of the rhubarb went to a community garden. Some of the plants are being planted at the golden manor. Some are also going to roy duncan park for a new garden that we're establishing. >> Reporter: that was a windfall and a half. >> Yeah, and it's killing me. [ Laughter ]. >> Reporter: how is your back? >> No, my back is good. It's just like, I'm not a spring chicken. I've had to kind of boost my game up pretty darn fast. >> I live in this building. These were severely neglected these gardens. If we have nice gardens around, people will take more care. You have here a nursing home. They have beautifully landscaped gardens. Then you have a heritage garden and I was trying last five years sending e-mails to all the bosses everywhere. >> Reporter: this has been a long fight for you. >> And I finally got them. >> If you appreciate where you live, maybe people will take care more about the building, about the plants. They look at this and what they think. I want them to -- they think that this is something beautiful that they will like to have in their neighbourhood. >> I'm here from health canada the chief financial officer branch. >> Reporter: this sounds like a thing that I would jump at too, but why did you decide to head out and dig today? >> It was a team-building exercise where a team of 26 volunteers came to help clean up these gardens. >> What is your plant experience before today? >> My parents had big gardens. That is where some of the knowledge comes from. My mother-in-law now is a gardener. She can take a small parcel and turn it into something. >> Reporter: what is the best thing you've found? >> We found some of the old wood. As we're digging and trying to salvage, we're finding old wood framing. >> Reporter: these look like railroad ties. That could do some damage. >> This is a huge impact. Thanks to the group effort. We're managing to do this in one day. I think coming from the resident also living in this community, beautification has a huge impact to improve the safety. There is a whole crime prevention around improving the landscape around the community. We're trimming trees, making sure they're not covering the lighting. We're trying to tackle a beautification aspect and also

the safety of the building. The impact of the residents who live here, they access the building on a daily basis. They see this all the time. When they see nice flowers it impacts the neighbourhood. When we have groups like today, they know the community housing and the residents get to know them. There is a great value we often don't measure, but it is breaking the stigma around community housing and improving the community cohesion between the partners and residents. >> Reporter: what happens after this? How do you maintain and make sure things don't die and the weeds stay down? >> We're tackling the weeds by doing a fabric. We're doing it right step by step. There is a water source over there with a hose. There are a few residents in this community really passionate. >> Reporter: there is a bird's nest up there. >> I saw that. We have residents here who are really fantastic. They have community gardens in the back and they want to be involved in the garden. This is a combination of the staff and the property management and also residents in the building. >> Hallie: voices from a plant rescue in westboro speaking with the cbc's amanda foote. You also heard the volunteers from claire's garden park. [ ] [ ] photo [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] >> Hallie: I love the saxophone. That's "come and go." that is from a new album "heat of the times." five minutes before 7:00. John hancock joins us with sports. >> John: you're right, baritone, about as big as you are. [ Laughter ]. >> Hallie: I was watching a kid playing it this weekend and the thing was almost as tall as the student. Stanley cup finals underway. The florida panthers strike first. >> John: the conference finals. The florida panthers will be tough to beat. They beat the rangers 3-0.

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