In this edition:
- Niagara Region hands out next round of prosperity initiative grants
- Tariffs could lead to 160,000 job losses in second quarter
- Wall Street swings as the approach of Trump’s ‘Liberation Day’ sends stock markets reeling worldwide
- Judge rejects Hudson’s Bay restructuring proposal intended to save remaining stores
- As ‘Buy Canadian’ grows, more US companies say retailers shunning their products
- Focus on Technology
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Picture credit: Regional Municipality of Niagara
Niagara Region hands out next round of prosperity initiative grants
Niagara Region has announced the recipients of the 2025–2027 Niagara Prosperity Initiative grant. This round of funding focuses on six areas for investment: Indigenous Well-Being, Mental Health and Addiction, Income and Employment, Housing and Early Child Development, and Food Security.
Picture credit: NVB Stocker / Adobe Stock
Tariffs could lead to 160,000 job losses in second quarter
Trade tensions with the U.S. will likely mean a painful next few months for workers and the economy, but could be short-lived, the Conference Board of Canada said in its latest outlook.
Canada could see some 160,000 people lose their jobs in the second quarter, pushing unemployment up to 7.3 per cent, while the economy could shrink at an annualised rate of 5.4 per cent in the quarter, the research group said in a five-year outlook.
Picture credit: zhu difeng / Adobe Stock
Wall Street swings as the approach of Trump’s ‘Liberation Day’ sends stock markets reeling worldwide
U.S. President Donald Trump’s fast-approaching “Liberation Day” has stock markets all over the world swinging sharply. The S&P 500 rose 0.6 per cent in another roller-coaster Monday. The S&P lost 4.6 per cent in the first three months of the year—its worst quarter in two-and-a-half years. The Dow Jones Industrial Average also swerved higher after initially falling, climbing 1 per cent. Slides for Nvidia and other influential tech stocks weighed on the Nasdaq Composite, which slipped 0.1 per cent.
The swings follow a global sell-off, as worries build that tariffs coming Wednesday from Trump will worsen inflation and grind down growth for economies.
Picture credit: Canmenwalker / CC BY 4.0
Judge rejects Hudson’s Bay restructuring proposal intended to save remaining stores
An Ontario judge has rejected a Hudson’s Bay Company restructuring agreement, increasing the likelihood that lenders may seek to push the company into receivership.
In a written decision issued Saturday, Justice Peter Osborne of the Superior Court of Justice said he declined to approve the agreement because it is “neither necessary nor appropriate at this time.”
Picture credit: STOATPHOTO / Adobe Stock
More US companies say retailers shunning their products while Canadians avoid U.S. travel
The “Buy Canadian” movement is sending new ripples of concern through the executive offices of U.S.-based consumer companies that banked on selling their products on Canadian retail shelves.
In tourism, what many hoped might be a temporary dip in Canadian travel to the U.S. is now showing signs of a bona fide boycott, as the Canadian backlash to tariffs and other political tensions with the U.S. intensifies.
Focus on Technology
Improving supply chain transparency with IoT applications
Today, many organizations struggle with disparate systems and data silos. A Harvard Business Review study found large firms have over 100 enterprise resource planning (ERP) systems as a result of past mergers and acquisitions. Too many ERP systems can lead to efficiencies. In one case, a company had 17 ledgers in separate systems associated with the same activity.
For a significant portion of Canadian manufacturers, moving from pen-and-paper systems to digital solutions created gaps in operational processes. If left unaddressed, those empty spaces can result in client dissatisfaction and inefficiencies.
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.
