Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Canadian economy grew in 2nd quarter, mostly from government spending and higher wages
The Canadian economy grew 2.1 per cent at an annualized rate in the second quarter of 2024, though GDP per capita fell for the fifth consecutive quarter, Statistics Canada said on Friday.
U.S. opens door to possible challenge of Canada’s digital services tax
The United States has requested dispute settlement consultations with Canada over the country’s digital services tax, arguing the levy is unfair to American firms and violates a continental trade deal.
Union launches court appeal over government move to end railway labour dispute
The union representing thousands of railroaders has appealed the moves that ended the rail shutdown last week — a work stoppage that halted freight and commuter traffic across the country.
Ontario Skills Development Fund Invests $500K in Brampton
The Ontario government is making a significant investment in Brampton’s workforce, with over $500,000 allocated through the Skills Development Fund (SDF) Training Stream.
Transforming Canadian Homebuilding: NGen’s $200M Manufacturing Challenge
NGen is set to transform Canada’s homebuilding industry with an ambitious investment of up to $200 million through its Advanced Manufacturing Homebuilding Challenge. This initiative aims to integrate cutting-edge manufacturing technologies and innovations to enhance the Canadian home manufacturing sector.
Strikes start at top hotel chains as housekeepers seek higher wages and daily room cleaning work
More than 40,000 workers, represented by the UNITE HERE union, have been locked in difficult contract negotiations with major hotel chains that include Hilton, Hyatt, Marriott and Omni. They are seeking higher wages and a reversal of service and staffing cuts.
As interest rates trend down, could housing get more affordable?
In the coming months, forecasters expect further Bank of Canada interest rate cuts that could push mortgage rates down, but does that mean it’s a good time to buy or sell a home?
B.C. caps rent increase at 3% for 2025, matching inflation rate
The British Columbia government is capping the maximum allowable rent increase at three per cent next year, down from the 3.5 per cent hike allowed in 2024.
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