In this edition:
- Destiny Copper set for $100 million investment and up to 100 new jobs in Thorold
- Bank of Canada holds policy rate at 2.25% as tariff and inflation risks rise
- Ottawa extends fuel excise tax suspension through January 2027
- Experts warn blocking U.S. ships from Welland Canal would hurt Canadian firms
- 68-unit Welland development heads to OLT after city misses planning deadlines
- Ontario allocates $1.65 million for Niagara GO-station shuttle
- Seaway cargo rises 2.6% through August as vessel traffic climbs 7.1%
- U.S. Senate Democrats move to repeal new tariffs on Canadian goods
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Picture credit: Destiny Copper
Destiny Copper set for $100 million investment and up to 100 new jobs in Thorold
Thorold-based Destiny Copper is set to receive about $100 million from German shipbuilder TKMS over five years to expand its copper-recycling technology. CEO Greg Hanna says the investment could create up to 100 jobs at Destiny, with additional employment among suppliers and engineering firms.
Picture credit: Julia / Adobe Stock
Bank of Canada holds policy rate at 2.25% as tariff and inflation risks rise
The Bank of Canada held its policy rate at 2.25%, saying Canada’s economic recovery is broadening but new U.S. tariffs and Canadian counter-tariffs are making the outlook more uncertain. Inflation remains around 3%, with elevated energy prices increasing the risk of further price pressures.
Photo credit: Kate / Adobe Stock
Ottawa extends fuel excise tax suspension through January 2027
Ottawa has extended the temporary federal excise tax suspension on gasoline, diesel and aviation fuels through Jan. 31, 2027. The measure suspends 10 cents per litre on gasoline and four cents on diesel; half-rates will apply in February and March before the tax returns fully in April.
Picture credit: Alexandre / Adobe Stock
Experts warn blocking U.S. ships from Welland Canal would hurt Canadian firms
Calls on social media to bar U.S. vessels from the Welland Canal as trade retaliation would be costly and difficult, trade and supply-chain experts say. Roughly 3,000 ships carrying 40 to 50 million tonnes of freight use the canal each year, including goods relied on by Canadian companies.
Picture credit: City of Welland livestream screenshot
68-unit Welland development heads to OLT after city misses planning deadlines
Mancini Developments and Covello Developments have appealed a proposed five-storey, 68-unit mixed-use building on Quaker Road to the Ontario Land Tribunal after Welland failed to decide the requested zoning and official plan changes within statutory deadlines. A case management conference is set for Sept. 9.
Photo credit: Reimar / Adobe Stock
Ontario allocates $1.65 million for Niagara GO-station shuttle
Ontario has identified $1.65 million for the Canadian Urban Transit Research & Innovation Consortium to introduce a shuttle connecting the St. Catharines and Niagara Falls GO stations with key destinations across Niagara Region. The project is one of five supported through the Ontario Transit Investment Fund.
Picture credit: Wilding / Adobe Stock
Seaway cargo rises 2.6% through August as vessel traffic climbs 7.1%
St. Lawrence Seaway cargo reached 20.74 million tonnes year to date through August, up 2.6% from 2025, while vessel transits increased 7.1% to 2,309. Dry bulk traffic rose nearly 17%, offsetting lower grain, iron ore and general cargo volumes.
Picture credit: Andrea Izzotti / Adobe Stock
U.S. Senate Democrats move to repeal new tariffs on Canadian goods
U.S. Senate Minority Leader Chuck Schumer is introducing legislation that would repeal the latest tariffs on Canadian goods and separate forced-labour duties, with refunds required for tariffs already collected. The measure is unlikely to pass the Republican-controlled Congress or overcome a presidential veto.
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.
