In this edition:
- Algoma reports “challenging” Q2 results, but expects improvement in second half
- CUPE reaches tentative deal with Bethesda Community Services
- 1,000-plus new jobs forecast by Grimsby’s economic development manager
- Bank of Canada’s market survey reveals little fear of recession
- Niagara-on-the-Lake Fire & Emergency Services seek Volunteer Public Educators
- Is the August Civic Holiday Monday a paid holiday, and who gets the day off?
- Focus on Climate
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Photo credit: Algoma Central Corporation
Algoma reports “challenging” Q2 results, but expects improvement in second half of 2024
Algoma Central Corporation today reported second quarter revenues of $180,968, an 11% decrease compared to the same period in 2023.
“Algoma encountered a challenging second quarter, but there are encouraging indications that volumes and margins will improve in the second half of the year,” said Gregg Ruhl, President and CEO of Algoma Central Corporation. “The Domestic Dry-Bulk segment is facing lowered salt volumes due to a string of mild winters, and a reduction in demand for construction materials. Looking ahead, we see potential for a large grain crop in 2024, and domestic iron ore volumes are expected to increase.”
Photo credit: May Chanikran / Adobe Stock
CUPE reaches tentative deal with Bethesda Community Services
CUPE 2977 is pleased to announce that a tentative agreement with the employer, Bethesda Community Services, has been reached.
The local represents more than 200 workers employed as Developmental Support Workers, Recreation, Maintenance and Cleaning staff at the Fly Road location and surrounding areas in Vineland.
Photo credit: Town of Grimsby
1,000-plus new jobs forecast by Grimsby’s economic development manager
Business is booming in Grimsby these days.
Economic development officer Frank Miele said there have been eight commercial/industrial expansion projects or beginnings of new developments so far in 2024.
“It means jobs and taxable assessment,” Miele said during an official groundbreaking Thursday for Vermeer Canada’s new headquarters on Iroquois Trail near Bartlett Avenue and the QEW.
Photo credit: Hand Robot / Adobe Stock
Bank of Canada’s market survey reveals little fear of recession
The Bank of Canada’s latest Market Participants Survey, released today, reveals that almost all market participants expect real economic growth between 0.9% and 1.7% by the end of this year, and between 1.8% and 2.2% by the end of 2025. Only 11.9% of respondents believed there would be negative growth this year, and 6.6% next year.
The housing market remains a primary concern, with both the expectation of a strong housing market and fears of a housing slowdown playing into most mid-term expectations.
Photo Credit: Town of Niagara-on-the-Lake
Niagara-on-the-Lake Fire & Emergency Services seek Volunteer Public Educators
The Fire Department’s Public Education Team is now accepting applications for dedicated volunteers to join the Town’s efforts in promoting fire safety awareness and prevention.
From now until August 31, the Town is looking to recruit multiple enthusiastic individuals aged 18 and above who will play a crucial role in educating the public on fire safety measures and emergency preparedness. This opportunity is open to everyone, regardless of their residence, with a preference for candidates with an educational background.
Photo credit: Peera / Adobe Stock
Is the August Civic Holiday Monday a paid holiday, and who gets the day off?
Did you know?
Focus on Climate
The blue imperative: understanding interactions between the ocean, climate and economy
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.
