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Greater Niagara Chamber of Commerce

Daily Update: May 30, 2023

In this edition:

Competition Bureau publishes wage-fixing and no-poaching enforcement guidelines

Today, the Competition Bureau published its wage-fixing and no-poaching enforcement guidelines.

The guidelines provide businesses transparency and clarity on the Bureau’s enforcement approach to the new criminal provisions coming into force on June 23, 2023.

With the 2022 amendments to the conspiracy provision (section 45) of the Competition Act, as of June 23, 2023, it is a criminal offence for employers to agree:

  • to fix, maintain, decrease or control wages or other terms of employment; or
  • to refrain from hiring or trying to hire one another’s employees.

In addition, beginning on June 23, 2023, all fines for offences under the conspiracy provision—including agreements to fix prices, allocate markets, restrict supply, fix wages or refrain from hiring—will be determined at the court’s discretion.

Click here to read more.

Ontario abandons proposal to sever farmland lots in response to farmer opposition

Ontario has backed off a housing proposal that farmers say would have had a “catastrophic” impact on farmland and livestock operations.

Municipal Affairs and Housing Minister Steve Clark proposed a series of regulations along with a bill that would allow for more housing to be built beyond urban boundaries and in rural areas, including allowing up to three new lots on parcels of farmland.

But more than a dozen farming organizations, including the National Farmers Union — Ontario, the Ontario Federation of Agriculture, the Beef Farmers of Ontario and the Dairy Farmers of Ontario, issued a joint letter urging the government to abandon the proposal.

Click here to read more.

Canadian Council for Aboriginal Business launches Indigenous Business Defence Sector Accelerator

Canadian Council for Aboriginal Business (CCAB) today announced the launch of the Indigenous Business Defence Sector Accelerator for Indigenous Business program, a new initiative developed to create opportunities for Indigenous businesses in Canada to engage with defence suppliers.

Indigenous businesses will be paired with organizational sponsors through the program to learn about regulatory requirements, acquire knowledge and skills to work within the industry and leverage opportunities within their sponsors’ global supply chains. General Dynamics is the inaugural sponsor of this new initiative.

Click here to read more.

Niagara-on-the-Lake celebrates Pride Month with Rainbow Crosswalk Installation

At the July 25, 2022, Council Meeting, Town Council approved the locations of one rainbow crosswalk and five rainbow benches in Niagara-on-the-Lake. A public engagement survey, open from June 1 to June 15, 2022, allowed for community feedback about the proposed locations and informed Council’s decision.

The Town utilized the same Progressive Pride design as the Niagara Region to promote the continuity of rainbow crosswalks throughout Niagara. The design consists of the traditional rainbow flag with the addition of black, brown, light blue, pink and white stripes.

Click here to read more.

New Grocery Code of Conduct should benefit both Canadians and the food industry: supply chain academic

The cost of filling your grocery cart in Canada increased by 10.3 per cent in 2022 and is projected to increase by an additional five to seven per cent this year.

What is particularly troubling about the food crisis is that the high prices seem to be impacting all food product categories, suggesting the problem is affecting the entire food supply chain rather than specific items or sub-sectors.

In response to this and other concerns, the House of Commons Standing Committee on Agriculture and Agri-Food initiated studies on Food Price Inflation and Global Food Insecurity, which included two separate meetings with the heads of four of the five major Canadian grocery retailers.

A result of the meetings — and a cause for cautious optimism — is the decision to develop a grocery code of conduct to address issues in the food supply chain.

Click here to read more.

Barton Street in Hamilton once again named CAA’s Worst Road

Its persistent issues with potholes and severe alligator cracking in the pavement have landed Barton Street East in Hamilton, Ont. at the top of the CAA Worst Roads list for 2023 for the second year in a row.

The road first appeared on the top 10 list in 2019 and has steadily climbed its way to the top.

Eglinton Avenue West in Toronto and County Road 49 in Prince Edward County took the second and third place spots respectively. Both roads have been at the top of the list.

Click here to read more.

Did you know?

The world’s largest employer is the Indian Ministry of Defence, with 2.99 million people on its payroll. The U.S. Department of Defense comes second with 2.91 million.

Focus on Finance & Economy

Canadian dollar dips as oil prices fall more than 4%

The Canadian dollar edged lower against its U.S. counterpart on Tuesday as a drop in oil prices offset optimism that a deal to raise the U.S. debt ceiling would be passed by Congress.

The loonie was trading 0.1% lower at 1.36 to the greenback, or 73.53 U.S. cents, after moving in a range of 1.3568 to 1.3613.

Click here to read more.

How money managers are using AI to invest

The use of artificial intelligence in finance is fundamentally changing the way money managers build investment strategies and at great speed — but it comes with it’s own set of risks, experts warn.

While the integration of technology in trading has long been established, AI now gives money managers the ability to create codes themselves through data that would have otherwise taken months to gather.

Click here to read more.

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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