Weekly Digest – 21 September 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Air Canada orders electric-hybrid planes

The purchase of 30 planes from Heart Aerospace was announced last week. The ES-30 electric-hybrid aircraft carry 30 passengers and will be put into service in 2028.

The role of the CFO is changing

While in the past the job of a Chief Financial Officer was mainly to track value, today’s professionals need to drive value – with tech-savviness and a simplified operations strategy, and by guiding their company through supply chain issues and volatile market conditions.

Real estate reaches record highs

The Bank of Canada updated its Housing Affordability Index for Q2 2022. It shows that the average household now needs nearly half of its income to service a mortgage – an unaffordability rate that hasn’t been seen since the 90s bubble.

Opinions vary widely about returning to the office

Toronto Life interviewed Torontonians returning to the Financial District after two and a half years of working from home. Read their thoughts here.

Dollar and stocks slide ahead of Federal Reserve policy meeting

The TSX had a weak opening on Monday, ahead of the US Federal Reserve’s anticipated rate hike. The Dow Jones, S&P 500, and Nasdaq all slid. The Canadian dollar also reached its lowest level in nearly two years.

Financial literacy levels aren’t great among Gen Z – or any other generation for that matter

A recent financial literacy study by the TIAA institute and the Global Financial Literacy Center showed that Gen Z scored the lowest in answering finance-related questions correctly at 43%. The combined Baby Boomer and Silent Generation group scored the highest. However, they only answered a paltry 55% of questions correctly.

Volkswagen hopes for US$75.1 billion valuation for Porsche IPO

The price would make it one of the largest European public offerings to date. The luxury carmaker is set to hit the Frankfurt stock exchange later this month.

Frugal is the new cool for the younger generation in China

While most millennials in China imagined a future with new cars, bigger apartments, and lush vacations, an interesting shift has taken place in the wake of the COVID-19 pandemic. Many younger Chinese are now embracing a lifestyle of minimalism and frugality.

Crypto falls ahead of anticipated rate hike

Bitcoin and Ether both crashed as the markets opened this week. The poor performance comes as investors turned shy in advance of the US Federal Reserve’s anticipated rate hike later this week.

The perks of personal finance

Some financial advisors are stressing the “personal” part of personal finance. Learn the benefits of putting your needs high on the priority list when making money decisions.