In this edition:
- Ontario launches four new energy-efficiency programs
- Gas prices in Niagara will jump by 10 cents overnight
- Ending border restrictions too late to save tourism season: Baldinelli
- Meridian now accepting small business nominations for more than $65,000 in prizes
- Elon Musk to go ahead with Twitter takeover after all: report
Ontario launches four new energy-efficiency programs
Ontario will be making available four new and expanded energy-efficiency programs, also known as Conservation and Demand Management (CDM) programs. As there will be a need for additional electricity capacity in Ontario beginning in 2025, and continuing through the decade, CDM programs are fast and cost-effective ways of meeting electricity system needs.
The four new and expanded CDM programs will include:
- A new Residential Demand Response Program for homes with existing central air conditioning and smart thermostats to help deliver peak demand reductions.
- Targeted support for greenhouses in Southwest Ontario, including incentives to install LED lighting, non-lighting measures or behind-the-meter distributed energy resources (DER), such as combined solar generation and battery storage.
- Enhancements to the Save On Energy Retrofit Program for business, municipalities, institutional and industrial consumers to include custom energy-efficiency projects.
- Enhancements to the Local Initiatives Program to reduce barriers to participation and to add flexibility for incentives for DER solutions.
Gas prices in Niagara, Hamilton and most of province will jump by 10 cents overnight
Gas prices are expected to jump overnight by 10 cents, and then a few cents more later this week.
Industry analyst Dan McTeague says while the average price of a litre of fuel in southern Ontario today sits at 152.9 cents per litre, it will soar to 162.9 cents per litre as of midnight tonight.
He says prices may go up by another 2 or 3 cents on Thursday.
Ending border restrictions too late to save tourism season: Baldinelli
The ending of the requirement for people entering Canada to use the controversial ArriveCan app comes too late to save the 2022 tourism season, says Niagara Falls riding member of Parliament Tony Baldinelli.
The Greater Niagara Chamber of Commerce applauded the federal government’s long-awaited decision to remove restrictions at the border, but said full recovery for Niagara’s battered tourism sector won’t arrive until 2023.
The national president of the Customs and Immigration Union, meanwhile, says thousands more border guards are needed to tackle border delays.
Meridian now accepting small business nominations for a chance to win more than $65,000 in prizes
Meridian is giving community-minded Ontario small businesses a chance to win more than $65,000 in prizes. Back for its second year, the Small Business Big Impact Awards, is designed to celebrate and recognize the positive impact of Ontario’s small businesses in their communities.
“Meridian’s Small Business Big Impact Awards gives us a chance to highlight the amazing spirit of Ontario entrepreneurs,” says Jason Teal, Vice President, Business Banking, Meridian. “We’re proud to serve our 25,000 business banking Members and want to recognize and reward small businesses who are effecting positive environmental and social changes and bringing us closer to a positive future.”
Contestants will be evaluated by an independent selection committee, based on quality of content, impact, business model, values and community support.
Nominations can be submitted by any Ontario resident and are being accepted until October 31st. Winners are eligible to win over more than $65,000 in prizes, including cash prizes for the top three of $25,000, $15,000, and $5,000. To learn more and to nominate a deserving local business online, please visit Meridian.
Elon Musk to go ahead with Twitter takeover after all: report
Trading in shares of Twitter were halted after the stock spiked on reports that Elon Musk would proceed with his $44 billion US deal to buy the company after months of legal battles.
The news, based on anonymous sources, was first reported by Bloomberg News.
Musk offered to buy the San Francisco company at $54.20. Shares jumped nearly 13 per cent to $47.95 before trading was halted.
According to the report Tuesday, Musk sent a letter to Twitter offering to complete the deal, which already has shareholder approval, at the original price.
Focus on Finance & Economy
Oil prices have fallen — so why is the price of gasoline skyrocketing across Canada?
CBC news
The price of a barrel of oil has fallen by about 20 per cent in the past month, a situation that would normally result in a comparable decline in the price consumers see when they fill up their cars with gasoline. But imbalances between supply and demand have caused pump prices to move in the opposite direction, and the effect on Canadian drivers has been dramatic.
On a day when the benchmark price for a barrel of oil lost about a dollar, gasoline prices skyrocketed in parts of the country on Thursday, with Thunder Bay seeing average prices jump by as much as 20 cents a litre, and Edmonton and Calgary moved by a similar amount on Friday — even as the price of oil lost another 50 cents.
Ontario’s labour shortage continues to worsen as retail sector braces for busy holiday season
CBC News
Ontario’s labour market is continuing to see a dire shortage of workers to fill jobs as the retail sector braces for a busy holiday season
Labour experts call the continuing trend worrisome and say the federal government needs to ramp up its immigration efforts to bring workers from abroad.
Rocco Rossi, president and CEO of the Ontario Chamber of Commerce, says more than 60 per cent of the organization’s members across all labour sectors are “experiencing difficulty in filling positions.
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.
