In this edition:
- Government of Canada announces details of new national dental plan
- Ontario aims to cut school construction time in half with new strategy
- Owners of former Y hope St. Catharines will re-consider partnership
- BlackBerry appoints John Giamatteo as CEO
- LCBO report reveals what Ontarians drank in 2023
- Metroland creditors accept insolvency proposal
- Korean EV manufacturer makes $35M investment in Ontario
- Focus on Retail
Government of Canada announces details of new national dental plan
Today, the Government of Canada announced the details of the upcoming roll-out of the Canadian Dental Care Plan (CDCP), a significant milestone for the health and well-being of people in Canada. Once fully implemented, the CDCP will help ease financial barriers to accessing oral health care for up to nine million uninsured Canadian residents with an annual family income of less than $90,000.
To meet anticipated demand and ensure a smooth onboarding process, the CDCP will be rolled out using a phased approach over the coming months, starting with seniors. Persons with a valid Disability Tax Credit certificate and children under the age of 18 will be able to apply online starting June 2024. All remaining eligible Canadian residents between the ages of 18 and 64 will be able to apply online starting in 2025.
Ontario aims to cut school construction time in half with new strategy
The Ontario government is introducing new measures to build modern schools faster calculated to cut construction timelines by nearly 50 per cent to meet the unprecedented pace of growth across the province. In Ontario, the average school construction timeline is 4-7 years, which comes from an obsolete capital process that has not been meaningfully overhauled since 2010-11, the Government of Ontario said in a statement today.
Owners of former Y hope St. Catharines will re-consider partnership
The owners of the former YMCA building in St. Catharines say they hope city councillors will reconsider their decision not to rent or buy the building from the company to provide recreational programming.
Atria Development Corp, which purchased the property at 25 YMCA Dr. in January 2022, presented a partnership proposal to the city that was rejected by council behind closed doors in October.
BlackBerry appoints John Giamatteo as CEO
BlackBerry Limited announced the appointment of John J. Giamatteo as its new Chief Executive Officer and as a member of its Board of Directors, effective immediately. Richard (Dick) Lynch, who has served as interim Chief Executive Officer since November 4, 2023, will continue as Board Chair. The Company also announced that it will separate the IoT and Cybersecurity businesses, and that they will operate as fully standalone divisions. BlackBerry will no longer pursue a subsidiary IPO of the IoT business.
LCBO report reveals what Ontarians drank in 2023
This year marked a shift in customer purchasing behaviour as Ontarians made more mindful choices that saw their dollar go further, the LCBO reported in a media release today. While many customers sought more value-based purchases, brand-loyal customers stuck to their favourites.
The tequila frenzy from last year continued in 2023, but at a slower rate (+16%) than the previous year – overall there has been 44% growth in the last two years. Catching customers’ interest were brands with celebrity backing, innovative finishes (e.g. wine-barrel aging), eye-catching packaging, and 100% agave.
Metroland creditors accept insolvency proposal
Unsecured creditors of Metroland have approved an insolvency proposal by the Toronto Star’s sister company.
The creditors, including former employees, voted Monday at a meeting chaired by proposal trustee Jonathan Krieger, a partner at Grant Thornton, a restructuring and insolvency consultancy.
The proposal still needs court approval.
Korean EV manufacturer makes $35M investment in Ontario
The Ontario government is welcoming a $35 million investment by Bobaek America Inc., a Korean electric vehicle (EV) parts manufacturer, to build a new manufacturing facility in Windsor, specializing in battery insulation panels and cell sheets for EVs. Bobaek’s investment marks the company’s first entry into the North American EV supply chain and will create 144 new jobs in the region.
Did you know?
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Focus on Retail
The battle against retail theft and loss
Grocers live in a world of high inflation, rising costs and already-thin margins, so it’s especially painful when profits just walk out the door. Whether from sticky fingers at the self-checkout or sophisticated organized crime rings, theft and loss has become a big problem for retailers. According to Statistics Canada, rates of shoplifting jumped 31% in 2022 compared to 2021. The Retail Council of Canada (RCC) says some of its members are reporting a 300% increase in thefts since 2020, pegging the losses at $5 billion a year. In the United States, the National Retail Federation found that shrink – primarily driven by theft and organized retail crime – represented US$112.1 billion in losses in 2022, up from US$93.9 billion the previous year.
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.
