In this edition:
- Teamsters union serves strike notice to CPKC; CN Rail issues lockout notice
- In face of major rail strike deadline, minister says parties must ‘do the hard work’
- CMHC says annual pace of housing starts in July up 16% from June
- Parliament launches consultation on industrial housing strategy for homebuilding
- Cogeco announces new partnerships on wireless networks and technology
- Free tree giveaway to expand Port Colborne’s tree canopy
- Inflationary spike reduced median household income by 4% between 2021 and 2022
- Focus on Finance & Economy
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Photo credit: IanDewarPhotography / Adobe Stock
Teamsters union serves strike notice to CPKC; CN Rail issues lockout notice
More than 9,000 workers at Canada’s two major railways could be either on strike or locked out as of Thursday, disrupting supply chains relied upon by many industries.
The union representing thousands of workers at Canadian Pacific Kansas City Ltd. says it has served a 72-hour strike notice to the railway.
The Teamsters Canada Rail Conference issued a news release saying unless the parties can reach a last-minute agreement, workers will be off the job as of 12:01 a.m. Eastern time Thursday.
Not long after the union’s statement, CN Rail issued a notice that it intends to lock workers out at that same time unless an agreement or binding arbitration is achieved.
Photo credit: Presidencia de la República del Ecuador / Public Domain
In face of major rail strike deadline, minister says parties must ‘do the hard work’
Labour Minister Steven Mackinnon is calling upon CN Rail, the Canadian Pacific Kansas City (CPKC) and the Teamsters Canada Rail Conference to “do the hard work necessary” to prevent a potential railway stoppage on Thursday that could have an economic impact worth billions of dollars.
In a new statement on Monday, Mackinnon gave no indication the federal government would be willing to intervene in collective bargaining negotiations.
Photo credit: zephyr_p / Adobe Stock
CMHC says annual pace of housing starts in July up 16% from June
Canada Mortgage and Housing Corp. says the annual pace of housing starts in July climbed 16 per cent compared with June.
The national housing agency says the seasonally adjusted annual rate of housing starts in Canada for July was 279,509 units, up from 241,643 in June.
Photo credit: Yakobchuk Olena / Adobe Stock
Government of Canada launches consultation on an industrial housing strategy for homebuilding
Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, and the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities, announced the launch of a consultation to source additional ideas on accelerating innovation and productivity in Canada’s homebuilding industry.
The consultation will engage a broad range of stakeholders across the construction sector, academics and community leaders through a series of thematic roundtables, as well as solicit feedback from the general public through online submissions.
Photo credit: Cogeco Communications Inc.
Cogeco announces new partnerships on wireless networks and technology
Cogeco announced new strategic partnerships today with a national wireless network operator and Eastlink.
The Corporation has signed a five-year MVNO (mobile virtual network operator) agreement giving Cogeco access to its partner’s wireless network. In addition, Cogeco has entered into a separate agreement with Eastlink, also for the next five years, for the delivery of the Corporation’s wireless technology platforms.
Photo credit: Volodymyr / Adobe Stock
Free tree giveaway to expand Port Colborne’s tree canopy
Photo credit: mehaniq41 / Adobe Stock
Inflationary spike reduced Canadian median household income by 4% between 2021 and 2022
In 2022, the median family after-tax income of Canadians was $60,800, up by 2.5% from 2021, Statistics Canada reported today.
However, adjusted for an annual rate of inflation of 6.8%, the 2022 median family after-tax income was 4.0% lower than in 2021. Lone-parent families in which the parent was younger than 25 years of age recorded the largest decrease in median family after-tax income, falling 15.1% from 2021 to $24,690 in 2022.
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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.
