In this edition:
- Canada invests $6 million in 60th season of Shaw Festival
- In a tight labour market, this is where Canadian workers are going
- Ottawa signs EV deal with Mercedes-Benz and Volkswagen
- 32,000 new homes needed in Niagara over next decade, housing industry observer says
- Lincoln mayor, Sandra Easton, has been acclaimed
- Rodman Art Institute of Niagara wants your input
- Vote in the upcoming municipal election
Canada invests $6 million in 60th season of Shaw Festival
Today, Chris Bittle, Member of Parliament for St. Catharines, on behalf of the Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario. announced a non-repayable investment of over $6 million to support the Shaw Festival’s recovery from the impacts of the past two years.
This investment will help the Shaw Festival return to its pre-pandemic scale with 13 shows, a new concert series and events.
In a tight labour market, this is where Canadian workers are going
Stories of people changing career paths during the pandemic have been well documented. So, too, has the dire shortage of workers in some sectors, with help wanted signs posted in the windows of countless restaurants and grocery stores.
Statistics Canada data analyzed by CBC News bears this out, showing a migration among workers between sectors – from jobs in the service and food industries, to potentially more lucrative positions in fields such as tech, finance and real estate.
An examination of the data also reveals a longer-term shift in the country’s labour market, spurred not just by the transformative past two years, but by demographic shifts that have been underway for decades.
Ottawa signs EV deal with Mercedes-Benz and Volkswagen
The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced historic partnerships with two German automakers in the form of memoranda of understanding with Volkswagen AG and Mercedes-Benz AG. These agreements will further collaboration across a range of sectors, help secure Canada’s position as a leading centre of excellence for the manufacturing of electric vehicles and batteries and help ensure that Canada is a destination for investments in this space.
32,000 new homes needed in Niagara over next decade, housing industry observer says
Niagara needs about 32,000 new homes over the next decade to meet the demand of people moving from larger cities as job freedoms, such as working from home, make it easier to live outside of urban centres, experts say.
Mike Moffatt, senior policy director with the Smart Prosperity Institute, a national research network and policy think tank based at University of Ottawa, said about 2,500 new homes have been built annually in the region over the past few years. To meet demand, he said, the figure needs to climb about 30 per cent, to 3,200 new homes per annum.
Lincoln mayor, Sandra Easton, has been acclaimed
As the nomination period for municipal election candidates closed last week, it appeared the race for Lincoln’s mayor would be a two-person contest. However, the clerk’s department for the town rejected the other nomination, saying it did not meet the requirements under the Municipal Elections Act. That means incumbent Sandra Easton, who was seeking a third term as mayor, has been acclaimed.
Rodman Art Institute of Niagara wants your input
The Rodman Art Institute of Niagara is a registered charity committed to advancing the public’s appreciation of the arts by caring for the community’s art collection and providing a vibrant platform for the visual arts and creative experiences. Their aim is to enhance the visual arts ecosystem of our region through collaboration and mutual support.
They are undertaking a community consultation process with the support of the City of St. Catharines to build upon Rodman Hall Art Centre’s 60-year legacy, and they are seeking input to chart a path forward to re-establish this important public institution. As part of this consultation process, they have created a brief survey asking for feedbac from community members and organizations in the Niagara region.
Click here to take the survey.
Vote in the upcoming municipal election
On Monday, Oct. 24, 2022, Niagara residents will vote to elect the positions of mayor, councillors and regional councillors. For voter information in your community, including a list of candidates, please click here.
Click here for information on the election.
Focus on Finance
Scotiabank revenue and profit inches higher – but loan loss provisions do, too
The Canadian Press
Scotiabank reported third-quarter net income of $2.59 billion, up from $2.54 billion in the same quarter last year. The bank says the profit amounted to $2.09 per diluted share for the quarter ended July 31, up from $1.99 per diluted share a year earlier.
Revenue totalled $7.80 billion, up from $7.76 billion.
2 in 5 workers cite inflation as factor in career decisions
HR Reporter
Eight in 10 (80 per cent) workers say that inflation is impacting their career decisions, such as whether to look for a new job with a higher salary or try to negotiate a higher salary with their current employer.
The $100 trillion global economy in one chart
Visual Capitalist
Surpassing the $100 trillion mark is a new milestone for global economic output. The world’s GDP was $88 trillion in 2020, and then $94 trillion in 2021, and now according to the latest projections, the IMF expects the global economy to reach nearly $104 trillion in nominal value by the end of 2022.
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.
