In this edition:
- Thorold company to receive $1.5m federal investment
- Niagara College announces record hiring
- Declining energy exports lead Canadian merchandise export slowdown
- Building permits jump 12% in August
- Competition Bureau recommends modernizing procurement policy to improve health care in Canada
Thorold company to receive $1.5m federal investment
CHAR Technologies Ltd. announces an investment of $1,500,000 from the Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), to support the Company’s Thorold Renewable Natural Gas & Biocarbon Project.
This investment, in the form of an interest-free repayable contribution toward certain eligible project costs, is provided through FedDev Ontario’s Jobs and Growth Fund (JGF). The Thorold Phase 1 Project will see CHAR relocate and recommission their existing London facility to the Thorold Multimodal Hub where it will try and contribute to a lower carbon economy by providing direct drop-in solutions to replace the consumption of fossil fuels.
Niagara College announces record hiring
Niagara College is poised to make key investments in people over the next two years, with record hiring of faculty, staff, administrators, and counsellors and student support staff since the spring.
Hiring for new and replacement positions began over the summer and the College filled more than 100 positions before the Fall Term began in September, with a further 100 employees anticipated in the coming year.
Emerging from one of the most challenging times in the College’s history and buoyed by an ambitious strategic plan, these positions will serve students in key learning and support areas at NC’s Welland Campus and Daniel J. Patterson Campus in Niagara-on-the-Lake.
Declining energy exports lead Canadian merchandise export slowdown
In August, Canada’s merchandise exports decreased 2.9%, largely due to lower exports of energy products. Imports fell 1.7%, mainly on decreased imports of motor vehicles and parts. As a result, Canada’s merchandise trade surplus with the world narrowed from $2.4 billion in July to $1.5 billion in August. This is the lowest monthly trade surplus observed to date in 2022.
Exports of energy products fell 6.0% to $18.4 billion in August, a level that represented 28.2% of total exports. This proportion reached an all-time high of 30.1% in June.
Building permits jump 12% in August
The total value of building permits in Canada increased 11.9% in August to $12.5 billion. Both the residential sector (+12.0% to $8.4 billion) and non-residential sector (+11.8% to $4.0 billion) saw strong gains, with Ontario causing much of the increase.
On a constant dollar basis (2012=100), the total value of building permits increased 10.0% to $7.5 billion.
Residential permits in August increased 12.0% to $8.4 billion nationally. Gains in Ontario offset losses posted in seven provinces.
Competition Bureau recommends modernizing procurement policy to improve health care in Canada
In its most recent market study report, the Competition Bureau published recommendations for federal, provincial and territorial governments to modernize public procurement processes used to acquire digital health care products and services.
Improving health care through pro-competitive procurement policy is the second of three reports published as part of the Bureau’s digital health care market study. The in-depth study examined how pro-competitive policies can foster innovation and bring about greater choice and access to digital health care services for Canadians.
Focus on Climate
Cutting emissions will hit growth, but costs of inaction much higher, says IMF
Vital steps to reduce greenhouse gases by 25% by the end of the decade will lead to lower growth and higher inflation but the costs of inaction would be far greater, the International Monetary Fund has said.
The IMF said decades of procrastination meant what could have been a smooth transition to decarbonised economies would now be more challenging, and the world had to cut fossil fuel use by a quarter in eight years to have a chance of hitting the global climate crisis goals set in Paris in 2015.
Globe Climate: Storm surge is why Hurricane Fiona hit so hard, and it will get worse
The Globe and Mail
Storm surge is a combination of low atmospheric pressure (which can raise sea levels by as much as half a metre) and wind (which can raise them even higher). Waves ride on top of it. Fiona’s surge broke water level records at four tidal gauges across Atlantic Canada — and literally broke at least two gauges. It destroyed most of Red Head Harbour’s wharf infrastructure and two buildings. In Newfoundland, it’s estimated that nearly 100 homes were rendered uninhabitable, many shorn from their very foundations.
Storm surge is virtually certain to get worse. Where sea levels are rising, storm surge flooding will increase in frequency and magnitude. That will accelerate the erosion that’s already threatening P.E.I., which features lots of sands and sandstone.
Over the last century, sea levels around P.E.I. have already risen about 30 centimetres, said Adam Fenech, professor at the University of P.E.I.’s climate school. But over the next century, they could rise between one and two metres.
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.