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Greater Niagara Chamber of Commerce

Daily Update: June 5, 2023

In this edition:

Bank of Canada may have to raise rates again this summer given recent momentum, economists say

Momentum in the Canadian economy is spurring speculation that a rate hike is on the way, but economists don’t expect the Bank of Canada to pull the trigger this week.

The central bank will be making its next interest rate decision on Wednesday, just one week after new data showed the Canadian economy is still growing — despite interest rates sitting at the highest levels since 2007.

Statistics Canada recently reported real gross domestic product grew at an annualized rate of 3.1 per cent during the first quarter. The figure beat out what forecasters had pencilled in for the first three months of the year.

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If the hot weather keeps up, Ontario is ‘at risk’ of power shortages this summer, report finds

Ontario is singled out in an electricity regulator’s report warning two-thirds of North America is “at risk of energy shortfalls this summer” should temperatures spike.

With the province in the grip of an early June heat wave in the last few days, the Atlanta-based North American Electric Reliability Corporation says extended refurbishments at nuclear power plants could result in a power pinch if the coming months prove hotter than usual, causing “extreme demand.”

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New Youth Jobs-Training Across Clean Technology and Sustainable Resource Sectors

Today, Julie Dabrusin, Parliamentary Secretary to the Minister of Natural Resources and the Minister of Environment and Climate Change, on behalf of the Honourable Jonathan Wilkinson, Minister of Natural Resources and the Honourable Marci Ien, Minister for Women and Gender Equality and Youth, announced over $30 million for job-creation and training opportunities over the next two years for youth in the fields of science, technology, engineering and math (STEM) and other related fields in the natural resource sectors that have positive environmental outcomes.

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Fix approvals, start building, says Electricity Canada

A new report from Electricity Canada drives home the urgency of expanding Canada’s clean power resources to meet national decarbonization goals and identifies five barriers to reaching those goals.

The report, titled Build Things Faster, cites funding, planning, the existing regulatory and approvals process, workforce shortages and the limited capacity of permitting and regulatory bodies to assess applications as hurdles that must be overcome in short order.

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Niagara Student wins gold at Skills Canada National Competition

Today, Skills/Compétences Canada (SCC) released the final medal results of the 2023 Skills Canada National Competition (SCNC), in Winnipeg. Over the past week, over 500 students and apprentices from across the country competed for the title of national champion in 45 Skill Areas at the RBC Convention Centre. The complete list of medalists is available on the Skills Canada Website, under the results tab.

Niagara Catholic District School Board student Wilson Sinclair won gold for Electrical Installations, one of 39 medalists for Team Ontario.

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Canadian Council for Aboriginal Business seeks bids for re-brand

The Canadian Council for Aboriginal Business (“CCAB”) is seeking bids from independent suppliers (“Bidder”) who have demonstrated professional competence and experience in undertaking brand/sub-brand reviews and refreshes. All proposals are due by 5 p.m. EST on Friday June 16, 2023.

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Did you know?

Cereal is the second-largest advertiser on television today, behind automobiles.

Focus on Small Business

Building A Top 1% Personal Brand On LinkedIn: 5 Strategies From 0-55k Followers In 12 Months

Founders can’t hide, and nor should they want to. The more prevalent your personal brand, the more influence you have without paying for clicks. The more you grow your company with the right kind of customers. One of the most powerful marketing strategies your business can deploy is the prevalence and personability of its founder or CEO. Get it right, and never buy another ad, because organic reach will see you through. Even though this is proving to be the case, so many people are still hiding behind SEO and pay per click.

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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.

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