In this edition:
- Asahi Kasei to base administrative and business teams at NC’s Welland Campus
- Algoma Central Corporation takes delivery of three vessels within one week
- Thorold looking to increase planning application fees
- West Lincoln accepting applications for Community Grants
- Mark Carney dominated the race to replace Justin Trudeau. Now what?
- Tariffs update: Ontario applies electricity surcharge, steel tariffs coming
- Hudson’s Bay looking at closing half its stores amid restructuring
- Couche-Tard assembles U.S. stores to divest in hopes of advancing 7-Eleven deal
- Focus on Canada-U.S. business
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Sean Kennedy, Niagara College President, and Ryu Taniguchi, President, Asahi Kasei Battery Separator Corporation shake hands at an event on March 10 to welcome the Asahi Kasei Battery Separator Canada (AKBSC) team to its new office space at the Welland Campus | Picture credit: Niagara College
Asahi Kasei Battery Separator Canada to base administrative and business teams at NC’s Welland Campus while Port Colborne facility is built
On March 10, Niagara College (NC) officially welcomed the Asahi Kasei Battery Separator Canada (AKBSC) team to its new office space at the Welland Campus.
The company, whose lithium-ion battery separator plant will bring highly skilled, well-paying jobs to the Niagara region, is leasing office space at NC while its facility is being built in Port Colborne.
Picture credit: Algoma / supplied
Algoma Central Corporation takes delivery of three vessels within one week
Algoma Central Corporation (TSX: ALC) has achieved a significant milestone, taking delivery of three new ships, from three different countries, within one week for the first time in its history.
Since 2013, Algoma has built 23 vessels with 12 more on order or under construction.
Photo credit: City of Thorold
Thorold looking to increase planning application fees
As the eighth-fastest growing municipality, the City of Thorold is a hot spot for developers, but the city feels that they have not been paying their dues.
City Hall sets a fee for every step of the planning process, but these fees have not been reviewed since 2015, so now the city is looking to increase them.
Photo credit: Township of West Lincoln
West Lincoln accepting applications for Community Grants
Applications are now open for the Township of West Lincoln’s annual Grants and Cemetery Grants. Local non-profit organizations and community groups are encouraged to apply.
Funding is limited and contingent on budget approval from Council. Applications are open until April 16, 2025.
Photo credit: Policy Exchange / CC BY 2.0
Mark Carney dominated the race to replace Justin Trudeau. Now what?
In something of a political blowout, Mark Carney was elected on Sunday as leader of the Liberal Party and as the next prime minister.
He won with 85.9 per cent of the votes, a larger margin than many expected — even though he was the clear front-runner throughout the race.
Photo credit: Oleksii / Adobe Stock
Tariffs update: Ontario applies electricity surcharge, steel and aluminum tariffs coming
Effective today, the Ontario government has applied a 25 per cent surcharge on all electricity exports to the United States as part of the province’s initial suite of retaliatory measures to U.S. tariffs on Canada. This surcharge will affect 1.5 million homes and businesses in Michigan, Minnesota and New York, costing up to $400,000 every day the surcharge remains in place.
While U.S. Commerce Secretary Howard Lutnick said on Mar. 9 that Trump will follow through on his plan to impose 25 per cent tariffs on steel and aluminum imports into the U.S., the billionaire financier added Trump’s most recent tariff threat — against Canada’s dairy and lumber exports — would not take effect until April.
Prime minister-designate Mark Carney, who won the Liberal leadership race in a landslide on Sunday, said his government will maintain tariffs until the U.S. ‘can join us in making credible and reliable commitments to free and fair trade.’
A key economic adviser to President Donald Trump on Monday pushed back on talk of recession stemming from uncertainty around his administration’s tariff policies, even as a survey of American households showed consumers growing more pessimistic about their prospects, and U.S. stocks extended their slide.
Questions about tariffs? Visit the GNCC’s tariff and trade resource page.
Picture credit: Canmenwalker / CC BY 4.0
Hudson’s Bay looking at closing half its stores amid restructuring
The restructuring process Hudson’s Bay kicked off Friday will likely see Canada’s oldest company shrink as it works to stay alive.
According to a source familiar with the matter, the department store company is looking at closing around 40 of its 80 stores, although that number could change.
Photo credit: Jerome / Adobe Stock
Couche-Tard assembles U.S. stores to divest in hopes of advancing 7-Eleven deal
Alimentation Couche-Tard says it has put together a portfolio of U.S. stores it would consider selling to advance its hopes of acquiring 7-Eleven‘s parent company, Seven & i.
Couche-Tard is making such moves because it says it still believes there’s a path for it to obtain the regulatory approvals it would need to purchase Seven & i.
Focus on Canada-U.S. business
Consumer resistance is rising in the age of Trump. History shows how boycotts can be effective
Boycotts are back. With people worried about everything from labour practices and human rights to tariffs and equal opportunity initiatives, collective consumer resistance has been rising globally.
Right now, there are several month-long boycotts of Target underway in the United States due to the company abandoning its diversity, equity and inclusion (DEI) programme. Longer boycotts of specific corporations, beginning with Amazon, are scheduled for March and April.
As these campaigns gain momentum, some consumers will question how effective boycotts are at changing corporate behaviour. But there is a long history of ordinary citizens successfully “voting with their wallets”, even before the term “boycott” was coined.
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.
