Your browser is not supported

Your browser is too old. To use this website, please use Chrome or Firefox.

Greater Niagara Chamber of Commerce

Daily Update: August 2, 2022

Canada announces new Russian sanctions, Canadian hate crimes rose 27% in 2021, Toronto index falls on commodity shares, and more.

In this edition:

Canada announces new Russian sanctions

The Honourable Mélanie Joly, Minister of Foreign Affairs, today announced that Canada is imposing further sanctions in relation to Russia’s invasion of Ukraine.

To increase pressure on Russia to abandon its war against Ukraine, Canada is imposing new measures on 43 military officials and 17 entities that are complicit in the conflict and the alleged human rights abuses committed during it, including atrocities in Bucha, Ukraine. The Government of Canada has strongly condemnded the murder of civilians in Ukraine and vowed to use every tool at its disposal to ensure that violations of international law across Ukraine, including those in Bucha, are fully investigated.

Click here to read more.

Canadian hate crimes rose 27% in 2021

While police-reported crime in Canada, as measured by the Crime Severity Index (CSI), was virtually unchanged in the second year of the pandemic, there were notable shifts in the nature of reported crimes. For the first time since 2006, the year-over-year changes in the Violent and Non-Violent CSIs moved in opposite directions.

The Violent CSI rose 5% in 2021, reaching a level higher than that before the beginning of the pandemic. The increase in violent crime compared with 2020 was attributable in part to higher rates of level 1 sexual assault, harassing and threatening behaviours, and homicide, among others. Additionally, the number of hate-motivated crimes reported by police increased by 27% to 3,360 incidents. Higher numbers of hate crimes targeting religion, sexual orientation and race or ethnicity accounted for the majority of the increase.

Click here to read more.

G7 foreign ministers commit to reduced dependence on Russian energy, net zero by 2050

The Foreign Ministers of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States of America, and the High Representative of the European Union today issued a statement condemning Russia’s war against Ukraine, and recognized that Russia was “not a reliable energy supplier.”

The group promised to phase out Russian energy from domestic markets and seek to develop solutions that reduce Russian revenues from hydrocarbons, support stability in global energy markets and minimize negative economic impacts, especially on low- and middle-income countries.

Additionally, the G7 Ministers reiterated theirsupport for an ambitious and expedited global clean energy transition toward net zero by 2050, consistent with a 1.5 °C warming limit and the implementation of the Glasgow Climate Pact.

Click here to read the statement.

13th Street Winery recognized as best in Ontario

St. Catharines-based 13th Street Winery was recognized as the best winery in Ontario and second-best in Canada at the National Wine Awards.

The National Wine Awards, Canada’s largest wine awards, are held annually in a different Canadian wine region each year. The 2022 event was held in Niagara Falls and saw 1,887 wines enter the competition from 250 different wineries based in eight different provinces.

13th Street Winery was founded in 1998 and will be celebrating its 25th Anniversary in 2023. Owned by friends and partners John and June Mann and Doug and Karen Whitty, the winery offers a unique blend of wine, food and art at its retail location on Fourth Avenue.

Click here to read more.

Focus on Finance & Economy

Toronto index falls on losses in commodity shares, U.S.-China tensions


Canada’s main stock index tracked losses in commodity shares on Tuesday, with a slowdown in manufacturing activity last month and tensions between the United States and China over U.S. House Speaker Nancy Pelosi’s expected visit to Taiwan denting sentiment.

At 10:13 a.m. ET, the Toronto Stock Exchange’s S&P/TSX composite index was down 173.01 points, or 0.88%, at 19,519.91, amid a broader risk-off mood across the global markets on concerns that Pelosi’s trip to Taiwan could worsen tensions between Beijing and the Washington.

Click here to read more.

TD buying Cowen for US$1.3B in U.S. investment banking push

BNN Bloomberg

The Toronto-Dominion Bank confirmed Tuesday morning that it has agreed to buy Cowen Inc. in its latest U.S. takeover.

Under the terms of the deal, TD will pay US$1.3 billion, or US$39 per share, in cash to buy the New York-based investment bank. TD said it sold 28.4 million shares in The Charles Schwab Corp. to finance the transaction; as a result, TD said the deal will be neutral to its Common Equity Tier 1 capital ratio.

Click here to read more.

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.

Share this: