In this edition:
- Total value of building permits declines with losses across sector
- St. Catharines looking at 1.49% tax increase
- Oil prices projected to stay at low levels in 2024, report says
- Big Canadian banks may be making misleading claims on sustainability, says securities complaint
- Canadian trade surplus narrows as exports fall
- Niagara Parks to host annual Job Fair events
- Ottawa, Honda to hold talks on potential EV factory in Canada
- Peller promises to keep pushing to boost wine industry
- Dr. Gervan Fearon appointed to the Order of Ontario
- Focus on Small Business
Total value of building permits declines with losses across sector
The total monthly value of building permits in Canada decreased 3.9% from October to $10.9 billion in November, with declines posted across almost all building type components.
Despite eight provinces with monthly gains in residential construction intentions, the total value of residential permits declined 2.8% overall to $7.0 billion in November, Statistics Canada reported today.
St. Catharines looking at 1.49% tax increase
Mat Siscoe has proposed a 1.49% increase in his first “strong mayor” budget, which city council will begin deliberating tomorrow.
Click here to listen to Mayor Mat Siscoe discuss his budget on CKTB’s The Drive.
Oil prices projected to stay at low levels in 2024, report says
A new report forecasting energy trends estimates global oil prices will be stuck at low levels for the next couple of years.
The analysis from Deloitte released Tuesday predicts an average West Texas Intermediate (WTI) price — typically regarded as the benchmark for crude oil — of $72 US per barrel this year.
That depression in price is because of cuts from major producers, record production in the United States and slowing growth in demand, according to the report.
Big Canadian banks may be making misleading claims on sustainability, says securities complaint
Canada’s big five banks are potentially misleading investors with their use of terms like sustainable finance, according to a complaint to securities regulators by a climate advocacy group.
Banks are using the term “sustainable finance” too broadly and not backing up the claims with data, Investors for Paris Compliance said in its submission Tuesday to the Ontario Securities Commission and the Autorité des marchés financiers of Quebec.
Click here to read the letter.
Canadian trade surplus narrows as exports fall
In November, Canada’s merchandise imports increased 1.9%, while exports were down 0.6%. As a result, Canada’s merchandise trade surplus with the world narrowed from $3.2 billion in October to $1.6 billion in November. However, this represents a fourth consecutive monthly trade surplus, Statistics Canada reports.
Click here to read more.
Niagara Parks to host annual Job Fair events
All job seekers are invited to explore the wide variety of seasonal job opportunities available across various departments at Niagara Parks during three upcoming job fair events for the 2024 season, with the first taking place on Saturday, January 20, at Table Rock Centre.
Click here to read more.
Ottawa, Honda to hold talks on potential EV factory in Canada
Federal officials are planning to meet this week with Honda representatives about the possibility of the Japanese automaker building an electric-vehicle factory in Canada, adding another name to the list of manufacturers Ottawa is courting as part of a multibillion-dollar effort to transform the domestic auto industry ahead of a shift away from fossil fuels.
The meeting has not been publicly announced, but a senior government official told The Globe and Mail on Monday that it will take place this week, and that several federal departments will participate.
Peller promises to keep pushing to boost wine industry
It’s taken years to get the province and the wine industry on the same page, but several changes unveiled by the Ford government are “incredibly gratifying for all of us and we’re all incredibly excited and grateful,” says John Peller.
The changes announced just before Christmas are “a real shot of adrenalin,” the CEO and president of Andrew Peller Ltd. said in an interview.
Dr. Gervan Fearon appointed to the Order of Ontario
Dr. Gervan Fearon, one of Niagara Health’s Board of Directors, has been appointed to the Order of Ontario. The Honourable Edith Dumont, Lieutenant Governor of Ontario announced 25 new appointments to the Order of Ontario for 2023. The Order of Ontario is the province’s highest civilian honour and is awarded to individuals whose exceptional achievements have left a lasting legacy in the province and beyond.
“I am humbled to be a recipient of the Order of Ontario. It has been an honour to contribute to others and the province through my efforts in post-secondary education, community development and volunteerism,” said Fearon.
Did you know?
Canada has the world’s third-largest oil reserves, but imports almost $20bn worth of oil per year.
Focus on Small Business
5 ways grants can help grow your business in 2024
With the cost of doing business rising in a challenging economy, business owners can use all the financial help they can get. And with borrowing costs high, there’s nothing better than tapping into new funding opportunities that you don’t have to pay back. If you’re looking to grow your business, learn how government funding can help you achieve your goals.
When companies are looking to move beyond “business as usual” and explore growth opportunities, one of the first steps is to determine how growth will be generated. Will it be achieved by increasing an existing customer base or by boosting the engagement or usage of existing customers? Will growth come from introducing new products and/or services or entering new markets with the current offering?
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.
