Deputy Prime Minister and Minister of Finance Chrystia Freeland released the federal budget on April 16, 2024, against a backdrop of Canadians facing the significant challenge of elevated costs of living. In light of the continued economic uncertainty, measures in the budget are targeted with the stated goal of building more affordable homes, making life cost less and growing the economy. Although there are no proposed changes to the personal… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Inflation in Canada slows Canada’s inflation rate slowed in January to a 2.9% increase, compared to December’s 3.5% hike, according to Statistics Canada. This slowdown keeps the Bank of Canada on track for a potential interest rate cut in June. Lower costs for fresh vegetables and air travel contributed… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Canadian support for royals may have slumped, but the scenes in London tell a different story Support for the monarchy in Canada is at its lowest point in years, but there were still a large number of Canadians present at the King’s coronation in London. In a continuation of… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Tentative agreement reached in public sector strike The government and the public sector union have come to a tentative agreement that would see around 120,000 public servants return to work after a strike that lasted almost two weeks. The agreement covers wage increases, remote work agreements, and protections against… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. CRA strike: what you need to know PSAC’s strike has disrupted many government services, including those provided by the Canada Revenue Agency (CRA). While tax filing is still possible, there may be delays in processing, particularly for paper submissions. Get more details here. US stocks down, but earnings season… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Federal strike looms Over 100,000 workers across Canada, including around 35,000 Canada Revenue Agency workers, are set to walk off their jobs if a deal cannot be reached on issues like job security, wages, and remote work. SpaceX postpones first attempt to launch Starship rocket into orbit SpaceX is… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. 5 positive personal finance trends in Canada today There’s been plenty of bleak financial news lately, but the Globe and Mail has rounded up five reasons you can feel good about your finances. Learn what they are here. Why founders need to pay themselves When you’re raising venture capital… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Canadians living alone squeezed by the “singles tax” Singles are feeling the pinch as rents rise, dubbing it the “singles tax”, which is the difference between what a single person pays for an apartment, groceries, and gas versus what it would cost per person if shared by a couple.… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Canadian banks are better protected from US-style “bank runs” Canada’s Big Five banks are large, diversified and well-capitalized, have experienced leadership and are closely monitored by a respected banking supervisor. Learn more about why experts agree that Canadian banks are safe. Nordstrom Canada liquidation sales begin this week Nordstrom… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Canada and others rushing to stop Silicon Valley Bank crisis from spreading Governments in the US, UK, and Canada are taking steps to prevent a potential banking crisis after the failure of California-based Silicon Valley Bank, with more than $200bn in assets, caused fears of wider disruption. The first… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Is the end of interest rate hikes finally here? The Bank of Canada is set to meet on Wednesday to discuss interest rate hikes. Some analysts believe that conditions are finally right to pause the seemingly never-ending rises. 5 Canadians who are earning more by working for companies located… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Inflation rate slows for January Statistics Canada said last week that the annual inflation rate eased more than expected in January to 5.9%, which shows that the rate hikes are working and should allow the Bank of Canada to keep them steady at its next meeting. Google blocks news… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. More than 20,000 Canadian Teslas part of recall Tesla is recalling nearly 363,000 vehicles in the U.S. and Canada that run its “full self-driving” system to fix problems with how it behaves around intersections and responds to posted speed limits. Find more information here. Interest rates could rise even… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. The price of oil is rising again China has shown signs that they are ready to buy more oil, which could mean the economy will perform better, and crude oil prices will move back between $90 and $100 a barrel. PM announces investment in quantum computing Justin Trudeau announced… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Canadian consumers and businesses are expecting a recession this year The Bank of Canada released its business outlook and consumer expectations surveys on Monday, and it showed that more businesses than usual expect their sales to decline in the next 12 months. House values fell 12% on average from… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Bell changing donation format for Let’s Talk Day Bell is changing its Let’s Talk Day campaign, promising to donate $10 million regardless of whether anybody texts or tweets the phrase on Jan. 25. Lululemon stock plunges The fall came after Lululemon said it expects gross margins to decline in… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. First BrightDrop Zevo 600 electric delivery van rolls off the line A General Motors plant in Ingersoll, Ontario has been converted into an assembly line for electric delivery vans and produced its first vehicle this week. The plant is the first full-scale electric vehicle-making facility in Canada. Food prices… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Is the housing correction finally here? Home sales rose 1.3 per cent in October, the first rise since February. Some analysts are wondering if this is the first sign that the Canadian real estate market has finally adjusted to the higher cost of borrowing. How climate change will affect… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Tiff Macklem warns us to brace ourselves As the Bank of Canada continues to try to fight inflation, governor Tiff Macklem said last week that we should prepare for further interest rate hikes this winter. The hope is that we will achieve just a mild recession. Homeowners choosing to… Read more