In this edition:
Realized net income for Canadian farmers rose 46.4% to $13.5 billion in 2021
Statistics Canada reports that the realized net income for Canadian farmers rose 46.4% to $13.5 billion in 2021, as strong growth in receipts offset higher expenses. This increase followed a 79.7% gain in 2020 and a 5.1% rise in 2019. Excluding cannabis, realized net income in 2021 was up 46.2% to $13.7 billion.
Realized net income is the difference between a farmer’s cash receipts and operating expenses, minus depreciation, plus income in kind.
The Prime Minister announces a change in the leadership of the Public Service
The Prime Minister, Justin Trudeau, today announced the appointment of Janice Charette as Clerk of the Privy Council and Secretary to the Cabinet, effective May 28, 2022. Ms. Charette has been serving as Interim Clerk of the Privy Council and Secretary to the Cabinet since March 9, 2021, and prior to this as High Commissioner for Canada in the United Kingdom of Great Britain and Northern Ireland.
New program in Niagara launching today involving 80 local doctors and nurses
A new program in Niagara, involving 80 family doctors and nurses, is trying to improve health care and cut down on unnecessary ER trips.
SCOPE Niagara, which stands for Seamless Care Optimizing the Patient Experience, is launching today. It connects family physicians and nurse practitioners to a dedicated team of specialists from Niagara Health and from Home and Community Care.
The primary care providers will connect with SCOPE Niagara’s nurse navigator, who will direct them to the most appropriate providers or services based on their patient’s health concerns.
Scotiabank hikes dividend as profit beats expectations
The Bank of Nova Scotia is raising its dividend after net income surged to $2.76 billion in the second quarter, driven in part by loan growth in its Canadian and international segments.
The net income figure amounted to a 12 per cent gain over the $2.47 billion reported in the same quarter last year and on an adjusted basis worked out to $2.18 per share for the three months ending April 30 was up from $1.90 last year. Bloomberg analysts had been expecting a profit of $1.97 a share.
Scotiabank also increased its quarterly dividend by three cents per share to $1.03 to be paid on July 27.
Bullish view on Canada’s TSX tempered as analysts fret about growth
Canada’s main stock index is expected to advance less than previously thought this year as economic growth slows and central banks raise interest rates, a Reuters poll found.
The median prediction of 26 portfolio managers and strategists was for the S&P/TSX Composite index to rise 4.4% to 21,183 by the end of 2022, compared with a forecast of 22,175 in the previous poll in February.
It was then expected to move up to 22,000 by the end of 2023 but fall short of the record closing high of 22,087.22 that it reached on March 29.
Language law Bill 96 adopted, promising sweeping changes for Quebec
Selena Ross, Joe Lofaro, CTV News
Bill 96, the provincial government’s legislation aimed at protecting the French language in Quebec, has been adopted in the National Assembly. MNAs voted 78-29 in favour of passing the law Tuesday afternoon, with opposition members from the Liberal Party and Parti Québécois voting against it.
Five things you need to know about Ottawa’s decision to ban Huawei from 5G networks
Barbara Shecter, Financial Post
Last week, Ottawa announced it is banning China’s telecommunications equipment giant Huawei Technologies from 5G wireless development in Canada over security concerns, putting an end to a years-long debate that has roiled the telecom sector. Here are five things you need to know about the decision, from its impact on 5G to Huawei’s future in Canada.
GNCC election platform
GNCC asks that the next Government of Ontario addresses the increasing scarcity of affordable housing and the overall housing supply shortfall. In an effort to build stronger communities, GNCC’s provincial election platform outlines policies and strategies to address this issue.
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.