In this edition:
- Canada moves to end rail shutdown quickly; CN workers to return to work
- Geneva Street bridge housing project lands provincial dollars
- Slower sales at car dealerships lead retail downturn in June, while groceries see uptick
- Ontario accepting applications for municipal core asset repairs, upgrades
- Non-financial sector posts income gains in Q2, while financial sector sees losses
- Focus on Human Resources
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Photo credit: IanDewarPhotography / Adobe Stock
Canada moves to end rail shutdown quickly; CN workers to return to work
Workers at Canadian National Railway will begin returning to work on Friday, the Teamsters union said, hours after the Canadian government moved to end an unprecedented rail stoppage.
The union said the work stoppage at Canadian Pacific Kansas City would continue pending an order from the Canadian Industrial Relations Board (CIRB). The union and company officials are scheduled to meet with the board on Friday morning.
Photo credit: City of St. Catharines
Geneva Street bridge housing project lands provincial dollars
The Ontario government has answered the call to support a bridge and supportive housing project planned for 320 Geneva St. in St. Catharines.
Municipal Affairs and Housing Minister Paul Calandra made a $6.1-million funding announcement on Thursday in St. Catharines that supports individuals experiencing homelessness.
Photo credit: Nejron Photo / Adobe Stock
Slower sales at car dealerships lead retail downturn in June, while groceries see uptick
Retail sales decreased 0.3% to $65.7 billion in June, Statistics Canada reported today. Sales were down in four of nine subsectors and were led by decreases at motor vehicle and parts dealers.
Following a decrease of 1.3% in May, core retail sales were up 0.4% in June on higher sales at food and beverage retailers (+1.2%), which were led by gains at supermarkets and other grocery retailers (except convenience retailers) (+1.8%).
Photo credit: maroke
Ontario accepting applications for municipal core asset repairs, upgrades
The Ontario government is now accepting applications for funding to build, maintain, and repair core assets such as municipal roads, bridges and culverts that will support the construction of new homes.
The funding is under the $400 million Housing-Enabling Core Servicing stream of the $1 billion Municipal Housing Infrastructure Program. Of the $400 million, the government is allocating another $120 million to projects in small, rural and northern municipalities that do not have housing targets.
Photo credit: Hand Robot / Adobe Stock
Non-financial sector posts income gains in Q2, while financial sector sees losses
Canadian corporations reported an increase of $2.4 billion (+1.5%) in net income before taxes (NIBT) in the second quarter of 2024, reaching $163.2 billion. This gain was driven by the non-financial sector (+3.0%) and partly offset by the financial sector (-1.8%).
Did you know?
Focus on Human Resources
Giving feedback can be daunting for new leaders — here’s how to provide it thoughtfully
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.
