Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
It’s possible that inflation has peaked
We’re all feeling the pinch of inflation as it hit 8.1% last week, but some analysts believe that we have reached the worst of it and that prices will stabilise as we finish the year.
Wages at issue in Westjet talks
Vancouver and Calgary WestJet workers voted in support of a strike if they cannot reach a deal with the airline. Workers could walk off the job as early as July 27.
Gas prices continue to drop
Gas prices in Ontario fell another 6 cents per litre last week. Similar drops could be seen all across Canada.
Social media stocks nosedive
After a disappointing revenue report from Snapchat’s parent company Snap, US social media companies saw nearly $80 billion US disappear from stock market values last week. Twitter also had a lacklustre earnings report.
Rental rates rise across Canada
Since many would-be buyers found themselves priced out of the housing market due to rising interest rates and home values that surged during the pandemic, the new competition is to find rental housing.
Rogers exec fired after nationwide system failure
Rogers is replacing its chief technology and information officer. Two weeks ago, the telecommunications giant experienced a nationwide shutdown that left millions of customers without phone, internet and TV service. The disruption could cost Rogers millions.
BC introduces mandatory “cooling off” period for home sales
The BC Real Estate Association (BCREA) is expressing disappointment after a mandatory three-day “cooling off” period was announced. It is intended to allow buyers time to secure financing and get a home inspection done, and prevent them from feeling pressured into making no-subject offers in multiple bid situations.
Ford changes strategies to meet EV goals
Ford announced it will use lower performance batteries for some models in order to meet its electric-vehicle targets. It’s the latest example of how global ambitions to cut greenhouse gas emissions are often at odds with the reality of supply chain constraints.
Canada’s tax system must keep pace with workforce changes
Experts agree that the CRA will have to continue to make adjustments to keep up with the growing gig economy.
5 things that are worth spending money on
Personal Finance has rounded up 5 things that are always a good investment and should be worked into your budget. Their list can be found here.
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