In this edition:
- Canada observes National Day for Truth and Reconciliation
- St. Catharines adopts 5-year economic development and tourism strategy
- Stellantis slashing financial outlook amid industry slump, Chinese competition
- Port of Montreal dockworkers begin three-day strike at two terminals
- Indigenous-related capital markets activity set to grow significantly, report says
- Focus on Finance & Economy
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Image credit: Brad Demers / Greater Niagara Chamber of Commerce
Canada observes National Day for Truth and Reconciliation
Each year, September 30 marks the National Day for Truth and Reconciliation.
The day honours the children who never returned home and Survivors of residential schools, as well as their families and communities. Public commemoration of the tragic and painful history and ongoing impacts of residential schools is a vital component of the reconciliation process.
This federal statutory holiday was created through legislative amendments made by Parliament.
Funding is offered to communities and organizations for activities and gatherings for the National Day for Truth and Reconciliation. Canadian Heritage has funded 422 events and gatherings across the country in 2024.
The call for proposals for community-based commemoration activities for 2025 will open in November 2024. For more information, visit the funding web page.
Niagara Falls held a flag-raising and lowering ceremony.
In a message to citizens, Niagara-on-the-Lake Lord Mayor Gary Zalepa and Town CAO Bruce Zvaniga encouraged all members of the community to continue their journey of learning about Indigenous history, cultures, and the truth of our shared past.
West Lincoln closed municipal buildings in honour of the day, and encouraged residents to wear orange to show their support for the Indigenous community.
Niagara Parks Commission will light the Falls orange hourly from 6:30 p.m. to 2 a.m.
Photo credit: City of St. Catharines
St. Catharines adopts 5-year economic development and tourism strategy
St. Catharines is responsible for nearly $40 million of visitor spending in the Niagara region and has the potential to not only attract more dollars, but also grow businesses if it prioritizes destination development, council heard this week.
Karen Doyle, St. Catharines tourism marketing officer, said visitor spending in Niagara reached $2.1 billion in 2022, with nearly $40 million attributed to St. Catharines.
Photo credit: Tada Images / Adobe Stock
Stellantis slashing financial outlook amid industry slump, Chinese competition
Stellantis, the world’s fourth largest carmaker, slashed its earnings forecast on Monday, citing investments to turn around its U.S. operations amid a wider industry slump and increased Chinese competition.
Stellantis said it was accelerating efforts to turn around North America, including bringing dealer inventory levels to no more than 300,000 vehicles by the end of the year, instead of the first quarter of 2025 as previously planned.
Photo credit: NVB Stocker / Adobe Stock
Dockworkers kicked off a three-day strike at the Port of Montreal on Monday, shutting down two terminals that handle more than 40 per cent of container traffic at Canada’s second-largest port.
Some 350 longshore workers walked off the job at the Viau and Maisonneuve Termont terminals at 7 a.m., part of a limited strike by waterfront employees in contract talks with the Maritime Employers Association (MEA), which represents shipping companies.
Photo credit: Kittiphat / Adobe Stock
Indigenous-related capital markets activity set to grow significantly, report says
Canada is poised to see significant growth in Indigenous-related project financing, international credit rating agency Morningstar DBRS said Monday.
In a report released on the fourth annual national day for Truth and Reconciliation, the credit rating agency said Indigenous-related capital markets activity is on a steady upward trend with “considerable potential” for more.
Did you know?
Focus on Finance & Economy
Indigenous equity ownership saw momentum in 2024, but still more work to do
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.
