In this edition:
- Niagara preparing to host thousands of visitors to view total solar eclipse
- Lincoln celebrates third successful job fair
- Proposed Grimsby condo towers get public airing
- Business Outlook Survey reveals sales growth expectations have stopped falling
- Consumers believe inflation has slowed, but expectations for long-term inflation increased
- Spring carbon-pricing increase takes effect today
- Focus on Technology
Niagara preparing to host thousands of visitors to view total solar eclipse
On April 8, all of Niagara will be one of the best places in Canada to view the total solar eclipse, and thousands of visitors are expected to come to our region to see it. In order to make sure Niagara is prepared to accommodate this once-in-a-lifetime event, and out of an abundance of caution, Regional Chair Jim Bradley proactively declared a State of Emergency for Niagara Region under the Emergency Management and Civil Protection Act (EMCPA), effective as of March 28.
Visit Niagara Region’s website for tips on how you and your loved ones can experience the eclipse safely.
Lincoln celebrates third successful job fair
The Town of Lincoln is proud to announce the return of its highly anticipated job fair, marking the first of 2024. It is the third in a series of initiatives aimed at fostering economic prosperity and facilitating connections between local employers and talented job seekers. The event, hosted by the Town’s Economic Development Office, took place on March 27, 2024, at Great Lakes Christian High School, drawing in an impressive crowd of approximately 400 attendees and participation from 28 local businesses.
Proposed Grimsby condo towers get public airing
Concerns about parking and several other issues have been raised about the proposed $400-million condominium development at 540-544 North Service Road near Casablanca Boulevard in Grimsby.
“I don’t know where these people are going to park their cars,” said Shaimaa Zayed following the March 27 mandatory public meeting at the town’s planning development committee about the two-tower condo proposal by the LJM Group.
“We’re using a study by a recognized traffic expert who has done many of these studies throughout the area, and he is of the opinion that the parking ratio that is required will meet the requirements of the building,” said Franz Kloibhofer, a principal with A.J. Clarke and Associates, the agent for the LJM Group.
Business Outlook Survey reveals sales growth expectations have stopped falling, but demand remains subdued
Business sentiment and sales growth expectations have stopped falling, according to firms responding to the Bank of Canada’s Business Outlook Survey and the Business Leaders’ Pulse. But demand remains subdued, which is allowing price pressures and the labour market to ease. As a result, fewer firms than in the previous survey are planning unusually large or frequent price increases over the next 12 months.
Consumers believe inflation has slowed, but expectations for long-term inflation have increased
Consumers believe inflation has slowed, the Bank of Canada’s Canadian Survey of Consumer Expectations for Q1 2024 shows, but their expectations for inflation in the near term have barely changed. Consumers link their perceptions of slowing inflation with their own experiences of price changes for frequently purchased items, such as food and gas.
Expectations for long-term inflation have increased, though they remain below their historical average. Relative to last quarter, consumers now think that factors contributing to high inflation—particularly high government spending and elevated home prices and rent costs—will take longer to resolve.
Spring carbon-pricing increase takes effect today
Canada has two different carbon pricing programs — one for big industry where companies pay the price on a share of their actual emissions, and a consumer carbon levy which is applied to fossil fuel purchases. The consumer levy affects individuals, small and medium-sized businesses, First Nations, as well as public-sector operations such as hospitals, universities, schools and municipalities.
The price change on April 1 affects the consumer levy, which applies in every province and territory except British Columbia, Quebec and Northwest Territories.
Did you know?
Focus on Technology
How AI and machine learning solutions drive value for financial institutions
In an era where technology is reshaping industries, BMO is making waves in the financial sector through its robust artificial intelligence (AI) initiatives and machine learning technologies.
A recent interview with Eric Morrow, Managing Director, Enterprise Data Science & AI, Data & Analytics, and Alex Tait, U.S. Chief Data and Analytics Officer, Data & Analytics, shed light on the transformative power of AI, where increased model performance directly correlates with amplified revenue, reduced costs, and most importantly, enhanced customer experiences.
At BMO, the benefits of broadly applying AI, data science and machine learning are clear. “There’s almost endless opportunity for taking data and applying models to it within a financial services organization,” said Tait. “Potential applications span everything from marketing to defending against cybersecurity threats.”
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
