In this edition:
- Niagara-on-the-Lake capital budget soaring in 2025
- New medical clinic to open in Welland
- Government of Canada announces $100M in funding for economic and leadership opportunities for women
- Ontario appoints Candice White as new CEO for Skilled Trades Ontario
- Magna International lowers guidance due to production decline of light vehicles
- Montreal reports two port terminals shut down, B.C. ports issue lockout notice
- Cogeco issues Q4 financial results, “met or exceeded all financial guidelines”
- Focus on Finance & Economy
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Photo credit: Town of Niagara-on-the-Lake
Niagara-on-the-Lake capital budget soaring in 2025
Niagara-on-the-Lake councillors approved, in principle, increasing the town’s capital budget to $17.2 million for 2025.
But in doing so, they rebuffed attempts by Coun. Sandra O’Connor to rein in the hike, arguing that delaying spending now will only kick the town’s infrastructure gap problem down the road.
Photo credit: makyzz / Adobe Stock
New medical clinic to open in Welland
The City of Welland has announced the opening of the Phoenix Medical Clinic, located at 453 Thorold Road. The new clinic will bring three additional family physicians to the area, enhancing residents’ access to primary healthcare. Joining the clinic are Drs. Aditya Nautiyal, Emeka Nzenwata, and Donald Oboh, who recently relocated from the United Kingdom.
A grand opening event is scheduled for November 7 at 11:30 a.m. The clinic is accepting new patients.
Photo credit: BullRun / Adobe Stock
Government of Canada announces $100M in funding for economic and leadership opportunities for women
Today, the Honourable Marci Ien, Minister for Women and Gender Equality and Youth, announced up to $100 million for 163 projects to improve economic and leadership opportunities for women across Canada.
This funding will address systemic barriers to women’s economic participation and success, including harassment, discrimination, limited access to mentors and networks, and lack of flexible work arrangements.
Image credit: Skilled Trades Ontario
Ontario appoints Candice White as new CEO for Skilled Trades Ontario
The Ontario government is appointing Candice White as the new Chief Executive Officer (CEO) for Skilled Trades Ontario (STO), effective November 25, 2024. Ms. White will continue to deliver on STO’s mandate to grow Ontario’s skilled trades workforce, promote the trades as a career of choice, and modernize services to Ontario’s over 1.3 million skilled tradespeople and apprentices.
Photo credit: Tomasz Zajda / Adobe Stock
Magna International lowers guidance due to production decline of light vehicles
Magna International Inc. cut its guidance for its full year after seeing its sales decrease last quarter amid a global production slump of light vehicles.
In its outlook, the Ontario-based auto parts company said that it now expects total sales for 2024 between US$42.2 billion and US$43.2 billion, compared with earlier expectations for between US$42.5 billion and US$44.1 billion.
Photo credit: Guy / Adobe Stock
Montreal reports two port terminals shut down, B.C. ports issue lockout notice
On Oct. 31 at 11 a.m., an indefinite strike began at the Viau and Maisonneuve terminals, in accordance with the strike notice filed by CUPE Local 375, the longshore workers’ union. As a result, these two Termont-operated terminals are closed, and no rail, truck or ship services will be provided.
Meanwhile, the BC Maritime Employers Association has issued a formal notice that it will “defensively” lock out members of the International Longshore and Warehouse Union Local 514 starting Monday at 8 a.m.
The lockout would shut down all cargo operations among association members across British Columbia.
Image credit: Cogeco Communications Inc.
Cogeco issues Q4 financial results, “met or exceeded all financial guidelines”
Today, Cogeco Communications Inc. announced its financial results for the fourth quarter ended August 31, 2024 and is issuing its fiscal 2025 financial guidelines.
The corporation reported strong progress on strategic priorities announced last quarter centered on synergies, digitization, advanced analytics, network expansion and wireless, and that it had met or exceeded all financial guidelines set for fiscal 2024.
Did you know?
Focus on Finance & Economy
Canadian gas prices drop for third straight week
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.
