Canada Weekly Digest – 18 May 2022
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
What’s behind TerraUSD’s collapse?
The collapse of stablecoin TerraUSD sent other cryptocurrencies plunging last week, leading many to wonder what place these digital coins have in the market.
Canadian home prices dropped last month for the first time in two years
The Canadian Real Estate Association says that increasing mortgage rates led to the first monthly slow down in years, finally slowing the frenzied pace of home sales.
Electric vehicles not quite mainstream yet
As interest in electric vehicles surges along with the rise in gas prices, experts say a greater variety of models and price points are needed in the Canadian auto market.
Employees often the driving force behind companies adopting fertility benefits
Coverage for fertility treatments is a key perk that businesses can offer to attract and retain employees in a tight labour market, advocates say.
How rising commodity prices affect the Canadian economy
Deputy Governor of the Bank of Canada Toni Gravelle gave a speech last week outlining how the spike in commodity prices affects Canada’s economy. A summary can be read here.
Elon Musk Twitter takeover on hold
Analysts say there is now less than a 50% chance of the USD$44 billion deal going through. Musk wavered after questioning the number of bot accounts on the platform. Many speculate that falling Tesla stock prices, which would back the purchase, are causing him to rethink the deal.
Gas prices continue to soar across the country
Metro Vancouver gas prices were among the highest in the country on Monday, reaching 233.9 cents per litre. Some analysts say prices could reach 250 cents per litre in Vancouver and Toronto by summer.
Energy stocks help lift TSX as US markets down
Gains in the energy sector helped Canada’s main stock market index this week, with the Canadian dollar rising to 77.47 cents US.
Art sales are up as the stock market and real estate prices swing
With so much uncertainty in the global markets as well as in real estate, some investors are turning to fine art as a safer place to park their cash.
Firing the head of the Bank of Canada would lead to global “shock wave”
Former parliamentary budget officer Kevin Page commented on the negative ramifications of removing an independent central bank head. The remarks came after the Bank received heavy criticism over the rate of inflation.
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