In this edition:
- Lincoln restaurant makes World Top 1000 list
- Niagara police board trims $2M from 2024 spending hike
- Financial intel agency hands down $7.4M penalty to Royal Bank of Canada
- St. Catharines council adopts new policy for filling vacant seats
- Higher proportion of parents report difficulty finding child care in 2023
- Welland budget to be finalized today
- Focus on Finance & Economy
Lincoln restaurant makes World Top 1000 list
Restaurant Pearl Morissette (RPM), nestled in the heart of Jordan Station within the Town of Lincoln, has been honoured with a prestigious position in the highly acclaimed 2024 La Liste of the Top 1000 Restaurants in the World. This recognition not only underscores the culinary excellence of RPM, but also highlights the Niagara Benchlands as a global leader in tourism and gastronomic delight, the Town of Lincoln said in a statement today.
La Liste, often referred to as the gastronomic compass of the world, is a renowned guide that annually curates a list of the thousand best restaurants across the globe. The selection process is rigorous, drawing on data from reviews, ratings, and critiques from a multitude of sources, including renowned food critics, industry experts, and prestigious culinary guides.
Niagara police board trims $2M from 2024 spending hike
Niagara’s police services board has approved an amended 2024 operating budget following a regional council request to cut spending — but Chief Bryan MacCulloch is warning that implementing mitigation strategies to attain budget savings “come with risk.”
In a special Niagara Regional Police board meeting Monday, MacCulloch said the original $190.5-million operating budget the service put forward — an increase of 7.1 per cent year-over-year — is nowhere near what is required, but what is needed to sustain its current services.
Financial intel agency hands down $7.4M penalty to Royal Bank of Canada
Canada’s financial intelligence agency has levied a $7.4-million penalty against the Royal Bank of Canada for non-compliance with anti-money laundering and terrorist financing measures.
The Financial Transactions and Reports Analysis Centre of Canada said Tuesday the violations include failing to submit suspicious transaction reports where there were reasonable grounds to suspect ties to a money laundering offence.
The agency, known as Fintrac, tries to pinpoint money linked to illicit activities by electronically sifting millions of pieces of information each year from banks, insurance companies, money services businesses and others.
Government of Canada launches Union-Led Advisory Table to help workers succeed in Canada’s economic future
Today, the Minister of Labour, Seamus O’Regan Jr., and the Minister of Employment, Workforce Development and Official Languages, Randy Boissonnault, announced the launch of the Union-Led Advisory Table. The Advisory Table is chaired by Bea Bruske, President of the Canadian Labour Congress, and includes 15 labour leaders from across Canada with expertise across sectors, including those impacted by ongoing transitions in the economy. It will advise the Government on the most pressing issues facing workers today, including automation and the changing labour market.
The Union-Led Advisory Table will provide recommendations to the Government on how best to support workers affected by economic change, with a focus on supporting skilled, mid-career workers in at-risk sectors and jobs.
St. Catharines council adopts new policy for filling vacant seats
St. Catharines city council is adopting a revised policy for filling vacant seats, though some councillors argue the new changes are anti-democratic.
The revised policy says council can fill a vacancy for mayor or regional councillor by appointing a current member of city council, the next runner-up for the position if they received 70 per cent of the votes of the person elected ahead of them, or any other qualified person.
For a vacant city council seat, council can appoint the next runner-up or any other qualified person.
Higher proportion of parents report difficulty finding child care in 2023
While the overall proportion of children in child care in Canada in 2023 was lower than in 2019, most provinces and territories reached child care participation rates similar to before the pandemic, as was the case in 2022, new data from Statistics Canada shows. Ontario was the only province in which the proportion of children in child care was lower in 2023 (48%) than in 2019 (54%), but it was higher than in 2022 (41%).
The proportion of parents who used child care and who reported having difficulty finding it increased from 36% in 2019 to 49% in 2023. Difficulty finding available care remained the top challenge for parents, and the proportion of those reporting this difficulty increased from 53% in 2019 to 62% in 2023. Finding affordable care also remained a common concern among parents, but the proportion of those reporting this declined from 48% in 2019 to 41% in 2023.
Welland budget to be finalized today
Twenty-two proposed city councillor amendments to Welland Mayor Frank Campion’s budget could see taxpayers face a 4.44 per cent increase in 2024. The budget marks the first under strong mayor powers granted to Welland by Ontario Premier Doug Ford earlier this year, which kicked in Nov. 1.
Those powers delegated the process to Campion, who brought forward his budget shortly after the city’s budget review committee started to meet. Councillors had two chances to send amendments to the mayor’s budget, items they wanted to see included or removed that would affect the tax rate.
Did you know?
Focus on Finance & Economy
From a ‘hawkish hold’ to a ‘dovish hold’? Here’s what economists expect from the Bank of Canada on Wednesday
The Bank of Canada’s next interest rate decision is pretty much baked in as a “hold” as far as economists and markets are concerned.
Instead, economists said they will be scanning the central bank’s statement on the Dec. 6 decision for signs that its view of the economy and inflation is shifting.
Bank of Canada governor Tiff Macklem said in a speech on Nov. 22 that “higher interest rates have cooled the overheated economy and taken the steam out of inflation,” adding that he believes the central bank may have done enough to tame the consumer price index.
VR is changing customer care for Hydro One
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.
