Daily Update: June 16, 2022

June 16, 2022 | Daily Update

Competition Bureau launches new tool for procurement agents, Deputy PM outlines government’s Affordability Plan for Canadians, and more.

In this edition:

GNCC to host webinar on Working for Workers Act
Competition Bureau launches new tool for procurement agents
Deputy PM outlines government’s Affordability Plan for Canadians
New laws to strengthen Canadians’ privacy protection
Brock researchers awarded more than $1.1 million in funding
College Teaching Winery wins trophy, four medals at national competition
Police call for businesses in vicinity of vandalism incident with camera footage
Canadian stocks hit 14-month low, loonie dips on recession worries

GNCC to host webinar on Working for Workers Act

It’s official – Ontario’s “right to disconnect” law is in effect. Join our legal and HR experts for all the details about the Act.

New legislation will affect your rights and rules regarding your workforce. Any business-owner without dedicated HR or legal counsel should attend and find out what their rights and obligations are now that the law has changed.

Click here to register for free.

Competition Bureau launches new tool for procurement agents

The Competition Bureau encourages all procurement agents in Canada to take advantage of its newly-launched Collusion Risk Assessment Tool to help them protect their procurement processes from bid-rigging.

The innovative new tool is a free, interactive online resource available to both public and private sector procurement officers and purchasing agents. It can be used as part of their day-to-day due diligence efforts to protect and promote competitive bidding processes.

Procurement agents can begin by completing the tool’s 10-minute questionnaire about a call for bids that they are planning. The tool will then produce a collusion risk score based on the specifics of the project, and will offer tailored best practices to mitigate those risks.

Click here to read more.

Deputy PM outlines government’s Affordability Plan for Canadians

Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, highlighted the government’s Affordability Plan⁠—a suite of measures totaling $8.9 billion in new support this year to help make life more affordable for millions of Canadians.

  • Enhancing the Canada Workers Benefit
  • Affordable Early Learning and Child Care
  • 10 Per Cent Increase to Old Age Security
  • A Housing Affordability Payment
  • Dental Care
  • Index-linked benefits

Click here to read more.

New laws to strengthen Canadians’ privacy protection

Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, together with the Honourable David Lametti, Minister of Justice and Attorney General of Canada, introduced the Digital Charter Implementation Act, 2022, which will significantly strengthen Canada’s private sector privacy law, create new rules for the responsible development and use of artificial intelligence (AI), and continue advancing the implementation of Canada’s Digital Charter. As such, the Digital Charter Implementation Act, 2022 will include three proposed acts: the Consumer Privacy Protection Act, the Personal Information and Data Protection Tribunal Act, and the Artificial Intelligence and Data Act.

The proposed Consumer Privacy Protection Act will address the needs of Canadians who rely on digital technology and respond to feedback received on previous proposed legislation. This law will ensure that the privacy of Canadians will be protected and that innovative businesses can benefit from clear rules as technology continues to evolve.

Click here to read more.

Brock researchers awarded more than $1.1 million in SSHRC funding

With so many charities competing for a limited number of dollars, it’s hard to know who to support. Donors want to make sure groups they fund are using the money responsibly.

Professor of Accounting Hemantha Herath is among those challenging the conventional way charities calculate and report their program expenses.

With funding from the federal government’s Social Sciences and Humanities Research Council of Canada (SSHRC), Herath is researching how data science techniques can be integrated into current reporting methods to give a fuller picture of charities’ performances.

Herath is among eight Brock University researchers awarded SSHRC’s Insight Grant, announced Thursday, June 16 by François-Philippe Champagne, Minister of Innovation, Science and Industry.

Click here to read more.

College Teaching Winery wins trophy, four medals at national competition

The Teaching Winery stole the spotlight at the All Canadian Wine Championships (ACWC) with the honour of Best Sparkling Wine of the Year, among its four significant awards across a broad range of styles and categories, including two double golds and two bronze medals.

“Student learning shines at the NC Teaching Winery when our products achieve outstanding national success,” said Steve Gill, General Manager of the College’s Learning Enterprises. “This is not only a big win for our winemakers, faculty, staff and students at the Teaching Winery, but for the future of wine industry as we continue to raise the bar for high-quality wine education.”

The Teaching Winery was among 194 wineries from across Canada that participated in this year’s ACWC. For details visit allcanadianwinechampionships.com.

Wines from the NC Teaching Winery are available for purchase at the Wine Visitor + Education Centre (Niagara College Daniel J. Patterson Campus, 135 Taylor Rd., Niagara-on-the-Lake), or online at NiagaraCollegewine.ca. Proceeds from sales support student learning.

Click here to read more.

Police call for businesses in vicinity of vandalism incident with camera footage

On June 12, 2022, at approximately 8:00am, 1 District – St. Catharines uniform officers responded to a report of spray paint damage on a home on George Street near Catherine Street in St. Catharines. Racist and homophobic words had been sprayed on the house siding using blue and orange paint.

Officers continued to investigate in the area finding multiple vehicles, and buildings were targeted including the exterior of Harriet Tubman School at 84 Henry Street. A statue of Harriet Tubman on the property was vandalized with paint. The investigation has determined the vandalism at the school occurred at approximately 9:55pm on June 11, 2022.

The suspects are believed to have traveled in the area on foot or bicycle. The suspects were on George Street, Catherine Street, Albert Street, Henry Street, and Louisa Street. Anyone (residents or businesses) in the above area with closed circuit security cameras, doorbell video cameras, or dash cameras are asked to review their footage for suspicious activity for the period between June 11, 2022, 9:00pm and 1:00am on June 12, 2022.

Members of the public who wish to provide information anonymously can contact Crime Stoppers of Niagara online or by calling 1-800-222-8477.  Crime Stoppers offers cash rewards to persons who contact the program with information which leads to an arrest.

Click Here For Crime Stoppers Online.

Canadian stocks hit 14-month low, loonie dips on recession worries

Canada’s main stock index slumped on Thursday to its lowest level in 14 months and its currency weakened as investors grew more worried that aggressive central bank interest rate hikes would trigger a recession, weighing on corporate earnings.

The Toronto Stock Exchange’s S&P/TSX composite index was down 3.3% at 18,970.70, its lowest level since April 2021.

The Canadian dollar was trading 0.3% lower at 1.2925 to the greenback, or 77.37 U.S. cents, after touching on Wednesday its weakest intraday level in more than one month at 1.2995.

Click here to read more.

Reading Recommendations

Is the US heading for a recession? Here’s what you need to know

The Guardian

Last Friday, the US Bureau of Labor Statistics released its May Consumer Price Index (CPI) report, which showed inflation worsening. On Wednesday, the Federal Reserve responded by raising interest rates by three-quarters of a point. Yet the bigger story, and bigger worry, is not inflation. It’s the distinct possibility of recession. Or perhaps both (what’s termed “stagflation.”) Here are some frequently asked questions.

Click here to read more.

Why most enterprises are failing to implement IAM

VentureBeat

Today, identity governance solution provider Saviynt released its State of Enterprise Identity research report, a study of over 1,000 IT and IT security practitioners across the United States and EMEA to examine how enterprises are responding to the onslaught of identity-based attacks.

The research finds that while 56% of enterprises averaged three identity-related data breaches in the last two years, only 16% have fully mature identity and access management (IAM) programs. This is the case even though 52% recognize that a past breach was due to lack of comprehensive identity controls or policies.

Despite this, many organizations admitted the limitations of current IAM approaches. For instance, only 35% in the Saviynt study admitted they have high confidence in achieving visibility of privileged user access.

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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Daily Update: June 15, 2022

June 15, 2022 | Daily Update

Housing market continues to cool, U.S. Federal Reserve hikes rates 75 basis points, Canadian dollar down, and more.

In this edition:

Housing market continues to cool
U.S. Federal Reserve hikes rates 75 basis points
Canadian dollar down slightly following Fed rate hike

Housing market continues to cool

Statistics released today by the Canadian Real Estate Association (CREA) show national home sales fell by 8.6% on a month-over-month basis in May. This built on a larger drop recorded in April, leaving monthly activity at pre-COVID levels recorded in the second half of 2019 and only slightly above the 10-year average. Actual (not seasonally adjusted) monthly activity came in 21.7% below the May record set in 2021, although the number of newly listed properties was up 4.5% month-over-month.

“May picked up where April left off, with sales activity continuing to slow and softening prices in many parts of the country,” said Jill Oudil, Chair of CREA. “Inventories are finally beginning to rebuild from record lows just a few months ago, although we still have major supply shortages almost everywhere.”

Click here to read more.

U.S. Federal Reserve hikes rates 75 basis points

United States Federal Reserve officials raised their main interest rate by three-quarters of a percentage point — the biggest increase since 1994 — and signalled they will keep hiking aggressively this year, resorting to drastic measures to restrain the rampant inflation they failed to forecast.

Slammed by critics for not anticipating the fastest price gains in four decades and then for being too slow to respond to it, Chairman Jerome Powell and colleagues on Wednesday intensified their effort to cool prices by lifting the target range for the federal funds rate to 1.5 per cent to 1.75 per cent.

They projected raising it to 3.4 per cent by year-end, implying another 175 basis points of tightening this year.

Click here to read more.

Canadian dollar down slightly following Fed rate hike

The Canadian dollar moved lower Wednesday against the U.S. dollar after the Federal Reserve hiked rates by 75 basis points.

The loonie recently traded at 77.01 cents U.S. Wednesday afternoon, down from a peak of about 77.41 cents U.S. earlier in the day. The Canadian currency has fallen by 2.6 per cent since the beginning of the month amid a flight to safety that saw investors plow into the U.S. dollar.

The U.S. dollar spot index recently traded at 105.29, paring its losses in midday trading but still hovering around its highest level since 2002. The greenback has been in significant demand as traders weigh how to trade currencies in an aggressive interest rate hike environment.

Click here to read more.

Reading Recommendations

How the crypto crash exposed the sector’s lies – and left retail investors in the lurch

The Globe & Mail

The best sales pitches are built around stellar stories, and the crypto sector concocted one for the ages: Buy bitcoin or any other digital asset, investors were told, or risk missing out on the future of finance. Maybe even of humankind.

Crypto.com, a major trading hub, filmed a Super Bowl commercial to caution viewers that “fortune favours the brave,” while Wealthsimple went more meta with its approach, hiring actors to play a primitive community that calls the invention of the wheel a Ponzi scheme. The message: Anyone who doubts crypto will eventually look just as foolish.

That retail investors believed the hype, helping send the amount invested in digital assets to US$3.2-trillion in November, 2021, isn’t all that surprising. They’re unsophisticated buyers. But it all grew so feverish that major institutional investors started taking the bait, too.

Click here to read more.

Why free stuff makes us irrational

The Hustle

If you’ve ever wondered just how passionate people are about free samples at Costco, look no further than these 2 incidents:

  • 2015: At a Southern California Costco, a 78-year-old was punched in the face after accusing a 24-year-old of hogging too many Nutella waffle samples. An arrest was made.
  • 2018: At a South Carolina Costco, 2 septuagenarians on a cheeseburger sample binge got into a spat over line etiquette that ended in a hat-flying slap to the face.

It may seem odd that a few small nibbles on toothpicks would incite violence. But this conduct is rooted in behavioral psychology.

In short, free stuff makes us do very strange, irrational things.

We’ll look at how “free” affects consumer behavior across 3 different areas: grocery store samples, shipping, and online content.

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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Daily Update: June 13, 2022

June 13, 2022 | Daily Update

Service Canada to hire 600 employees to help with passport backlog, 1 in 4 homeowners would have to sell if interest rates rise, and more.

In this edition:

Service Canada to hire 600 employees to help with passport backlog
Nearly 1 in 4 homeowners would have to sell if interest rates rise
Trudeau tests positive for COVID-19, for second time
Canadian stocks re-enter correction territory
Port Colborne hosting open house for affordable housing strategy
Residential construction investment rises for 7th straight month

Service Canada to hire 600 employees to help with passport backlog

Over the period of the COVID-19 pandemic, the volume of passport applications was relatively low, due to a reduction in travel following the imposition of public health restrictions and travel advisories. With the easing of restrictions and the resumption of travel, Service Canada has experienced an increase in passport applications across the country. In the first two years of the pandemic, only 20% of normal passport volume was received (from April 1, 2020 to March 31, 2021- 363,000 passports, and from April 1, 2021 to March 31, 2022 – 1,273,000 passports issued).  Since April 1, 2022, over 542,000 applications were received. As a result, Service Canada is experiencing increased passport processing times and is prioritizing those travelling imminently.

In a statement, Minister Gould said that these wait times were “far from acceptable.”

Already, Service Canada has hired approximately 600 new employees this year, and will continue to hire up to 600 additional employees, along with continued internal reassignment of staff to work on delivery of passport services.

Click here to read more.

Nearly 1 in 4 homeowners would have to sell if interest rates rise more, survey finds

Nearly one in four homeowners say they will have to sell their home if interest rates go up further, according to a new debt survey from Manulife Bank of Canada.

The survey, conducted between April 14 and April 20, also found that 18 per cent of homeowners polled are already at a stage where they can’t afford their homes.

Over one in five Canadians expect rising interest rates to have a “significant negative impact” on their overall mortgage, debt and financial situation, the survey found.

The Bank of Canada remains on a rate-hike path as it tries to tame inflation, which is now at a 31-year high at 6.8 per cent. On June 1, the central bank increased its key interest rate by half a percentage point to 1.5 per cent.

The Manulife survey also found that two-thirds of Canadians do not view home ownership as affordable in their local community.

Click here to read more.

Prime Minister Trudeau tests positive for COVID-19, for second time

Prime Minister Justin Trudeau says he has tested positive for COVID-19, for the second time.

In a tweet posted Monday morning, Trudeau said he’ll be “following public health guidelines and isolating.”

Last week, Trudeau was in Los Angeles to attend the Summit of the Americas, where he met with a number of top officials, including U.S. President Joe Biden.

“I feel okay, but that’s because I got my shots. So, if you haven’t, get vaccinated – and if you can, get boosted. Let’s protect our healthcare system, each other, and ourselves,” the prime minister posted.

Click here to read more.

Canadian stocks re-enter correction territory amid rate hike nerves

Canada’s main stock market tumbled back into correction territory on Monday and the dollar weakened against its U.S. counterpart as investors raised bets on how high central banks would lift interest rates to tackle inflation.

The Toronto Stock Exchange’s S&P/TSX composite index was down 2% at 19,867.43, which left it 10.1% below the record closing high it notched in March.

A correction is confirmed when an index closes 10% below its record closing high. The TSX did that on May 11 and May 12 but then rallied.

Click here to read more.

Port Colborne hosting open house for affordable housing strategy

Tim Welch Consulting, the consulting firm hired to complete the City of Port Colborne’s affordable housing strategy, will be joining city staff to host an open house on Tues., July 5, 2022, from 7 to 9 p.m. at the L.R. Wilson Heritage Research Archives, 286 King Street.

The consultants will lead the open house with a short presentation about housing needs in Port Colborne, followed by opportunities for attendees to browse poster boards, ask questions, and provide input on the vision, goals, and recommendations of the affordable housing strategy.

The open house will be split into two identical sessions, one beginning at 7 p.m., with doors opening at 6:30 p.m., and the other at 8 p.m. Space is limited, and online registration is required at www.portcolborne.ca/affordablehousingstrategy.

Click here to read more.

Residential construction investment rises for 7th straight month

Investment in building construction increased by 2.7% to $20.9 billion in April. Gains were reported in both the residential (+3.2%) and the non-residential sectors (+1.4%). Residential construction investment rose for a seventh consecutive month, up 3.2% to $15.7 billion in April. British Columbia (+8.3%) led the way and reached a record high.

Investment in the non-residential construction sector advanced 1.4% in April, with seven provinces posting increases. Investment in industrial construction increased 1.7% to $931 million, with Ontario accounting for most of the net growth.

Click here to read more.

Reading Recommendations

Crypto market crashes anew as trading platform Celsius freezes up

CBC News

Bitcoin and other cryptocurrencies plunged through the weekend and into Monday as high inflation sent investors running for the exits and caused major trading platforms to seize up.

Bitcoin was changing hands below $23,000 US at one point on Monday morning, down 20 per cent since Friday and enough to push the value of the world’s dominant cryptocurrency down to its lowest point since December 2020.

The sell-off prompted a major crypto exchange, called Celsius, to halt withdrawals on Sunday evening, meaning investors can’t take what’s left of their money out. “We are taking this action today to put Celsius in a better position to honour, over time, its withdrawal obligations,” said the exchange, which had roughly $11 billion in customer deposits on its books.

Click here to read more.

The Clues You Missed: 5 Super-Obvious Signs We Were in a Financial Bubble

New York Magazine

We should have seen it coming. At least that’s what a lot of investors (big-time ones and Robinhood speculators alike) are telling themselves right now with financial assets of all sorts in freefall this year. More than ten years of a bull market, a flood of money from the Federal Reserve, and a new world of technology in everything from money to cars and even art made the future seem limitless. Only now are some people finding out — many of them for the first time — that the laws of the market have not been repealed. Inflation, the war in Ukraine, and rising interest rates are pummeling the markets, and no one knows when it will end.

The S&P 500 — the stock index that most likely is in your 401(k) — is down 19 percent this year to date. That is perilously close to the official definition of a bear market: 20 percent or more from the peak. Meanwhile, the NASDAQ, where the lofty tech names trade, is down 28 percent this year, SPACs and crypto have collapsed, and private markets are seizing up.

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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Seat at the Table Workshop 2

June 12, 2022 | Event Recordings, WIN, WIN Videos

Get Ready to Run for Local Government

Have you ever wanted to run for municipal office, yet didn’t know where to start? Niagara Region’s Seat at the Table features four virtual workshops that will help you:

• Become better informed about running for local government
• Address barriers that you might face
• Be inspired to support others and include your voice in local government

If you are a woman or a gender diverse person, join us for the second session to hear from a panel of Clerks and Councillors. They will be focusing on details about getting organized to run for election, what you need to know to put your name on the ballot, and how to support someone who wants to run for election.

Background:
On April 7, Niagara Region will kicked off a new initiative designed to change the face of elected councils in the 2022 municipal election with the launch of the Niagara Region Seat at the Table program. This is the first in a four-part virtual workshop series and mentorship program that will inspire and prepare women from underrepresented backgrounds to run in the upcoming regional and municipal elections.

Women, gender-diverse individuals and people from underrepresented backgrounds are encouraged to attend. Whether you are considering running for municipal council in 2022 or want to support a female or gender diverse candidate, this session will provide useful information on your next steps. Future workshops will provide practical tools, resources and mentorship opportunities for women to get ready to run in the 2022 municipal elections.

Partners

Niagara Region is partnering with the Greater Niagara Chamber of Commerce (GNCC) Women in Niagara (WIN), City of St. Catharines, YWCA, Future Black Female, Services 4 Humanity, Muslim Senior Circle and Niagara Region’s Women’s Advisory Committee to encourage more diversity in elected councils in 2022.

This initiative is funded by Women and Gender Equality (WAGE) Canada in partnership with the Federation of Canadian Municipalities’ Canadian Women in Local Leadership (CanWILL) Program.

Seat at the Table Workshop 2 – Getting Organized to Run image
For more information on the program, visit https://www.niagararegion.ca/projects/seat-at-the-table/default.aspx

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Daily Update: June 8, 2022

June 8, 2022 | Daily Update

Scrap the App! GNCC needs your help on ArriveCAN, Niagara residents invited to virtual climate change summit, and more.

In this edition:

Scrap the App!
Confirmed: most mask mandates to be lifted on June 11
Niagara residents invited to virtual climate change summit
New measures aim to reduce wait times at airports
Greenhouse Gas Offset Credit System launched

Scrap the App!

The GNCC is calling on the Government of Canada to scrap the ArriveCAN app, and we need your help to do it.

Travellers are already required to verify vaccination status and can be subjected to random testing. We believe the ArriveCAN app does little more than deter tourists from coming to Canada. With 40,000 to 60,000 local jobs depending on tourism, Niagara cannot afford additional burdens to international travel.

Will you take a moment to send a message to your Member of Parliament? We’ve made it easy – all you need to do is click here to pick your riding and send a pre-written message, or write your own.

Government of Ontario confirms most mask mandates to be lifted on June 11

With high vaccination rates and Ontario’s COVID-19 situation continuing to improve, said Dr. Kieran Moore, Chief Medical Officer of Health, most of the province’s remaining provincial masking requirements, including on public transit, will expire as of 12:00 a.m. on June 11, 2022.

To continue providing an additional layer of protection for the most vulnerable, masks will still be required in long-term care and retirement homes. Masking is recommended in higher-risk congregate living settings, such as shelters and group homes.

On June 11, 2022, remaining Directives will also be revoked and replaced with Ministry of Health guidance for health care workers and organizations. This includes guidance on when masks should be worn in hospitals and other health care settings.

Click here to read more.

Niagara residents invited to attend virtual climate change summit

Given climate change is one of the most serious challenges of the time, residents are invited to attend Niagara’s first-ever climate change summit online on Tuesday, June 28 from 9 a.m. to 12 p.m.

Last September, Regional Council passed a motion declaring a climate change emergency, allotting financial resources to address the impacts of our changing climate as well as directing the initiation of region-wide summit focused on the issue.

The Niagara Climate Change Summit will bring a group of diverse stakeholders, including senior representatives from the public and private sectors, to develop a common understanding of climate change and its impact on the Niagara community. Members of the public are encouraged to attend the hybrid summit online to learn more about this important issue which effects everyone.

Members of the public who would like to participate in the morning session are welcome to register for the livestream. On June 28, the livestream will also be available on Niagara Region’s YouTube channel and on the Niagara Climate Change Summit webpage.

Click here to read more.

New measures aim to reduce wait times at airports

The Honourable Omar Alghabra, Minister of Transport, the Honourable Jean-Yves Duclos, Minister of Health, the Honourable Marco Mendicino, Minister of Public Safety, and the Honourable Randy Boissonnault, Minister of Tourism and Associate Minister of Finance, today announced:

  • a task force to find solutions to address bottlenecks at pre-board security screening and pre-clearance departure checkpoints
  • the hiring of 644 new CATSA recruits in the four largest airports, and 865 total across Canada
  • additional staff on select days at airports to verify that travellers have completed their ArriveCAN submissions on arrival
  • 25 additional kiosks available in the customs hall areas at the Toronto Pearson International Airport.

No mention of removing the ArriveCAN app or the additional COVID-related border measures still in place was made.

Click here to read more.

Canada launches Greenhouse Gas Offset Credit System

Today, the Government of Canada launched Canada’s Greenhouse Gas Offset Credit System, a key measure outlined in Canada’s 2030 Emissions Reduction Plan. The offset system will give municipalities, foresters, farmers, Indigenous communities, and others a market-based incentive to undertake innovative projects that reduce greenhouse gases (GHGs) by preventing emissions and removing GHGs from the atmosphere.

Under the new system, registered participants can carry out projects following a federal offset protocol, which sets out a consistent approach for measuring GHG emissions reductions or removals for specific types of projects. These projects can generate one tradeable offset credit for every tonne of emissions they reduce or remove from the atmosphere. Once a credit is earned, it can be sold to others to help them meet their compliance obligations or emissions reduction goals under the carbon pollution pricing system.

Click here to read more.

Canada imposes sanctions on Russian oil, gas and chemical industries

The Honourable Mélanie Joly, Minister of Foreign Affairs, today announced that Canada is imposing new sanctions under the Special Economic Measures (Russia) Regulations in response to Russian President Vladimir Putin’s ongoing egregious and unjustifiable invasion of Ukraine.

These new measures impose a ban on the export of 28 services vital for the operation of the oil, gas and chemical industries, including technical, management, accounting and advertising services. The banning of the exportation of oil, gas and chemical services targets an industry that accounts for about 50% of Russia’s federal budget revenues.

Click here to read more.

Reading Recommendations

Young consumers are opting to buy now and pay later, as more companies enter the financing game

CBC News

Increasingly, online retailers are partnering with financial service providers to allow customers to make purchases — while only paying a fraction of the cost upfront.

According to analysis conducted by SIA Partners, the buy now, pay later (BNPL) share of retail e-commerce and point-of-sale transactions in the U.S. was less than two per cent in 2021, but is expected to double to four per cent by 2025.

Apple is the latest company to enter the market, announcing on Monday that it will offer financing options for purchases made via Apple Pay. The new service, Apple Pay Later, will be available in the U.S. in the fall. (Apple has not disclosed when the service can be expected to be available in Canada.)

BNPL — offered by providers like Afterpay, Klarna, PayBright and Sezzle — is essentially like a point-of-sale loan, where a customer purchases an item, then pays for it through regular instalments over the course of a few weeks or months.

Click here to read more.

Small green spaces can help keep cities cool during heat waves

The Conversation

A recent World Meteorological Organization report called heat waves the “deadliest meteorological hazard” from 2015 to 2019, affecting people living on all continents, and setting new national heat records in many regions. Canada’s top weather event in 2021 was British Columbia’s record-breaking heat, according to Environment and Climate Change Canada. The temperature in Lytton, B.C., hit 49.6 C on June 29. The following day a wildfire destroyed 90 per cent of the town, killing two people and displacing 1,200 others.

Heat waves also exacerbate existing health issues, including cardiovascular and respiratory disease. They’re associated with increased hospital admissions, psychological stress and aggressive behavior, as well as excess mortality.

During heat waves, the highest temperatures are often found in urbanized areas. Urbanization is almost always associated with an increase in paved, impervious areas, and often a decrease in greenery. Concrete and asphalt roads, and other built materials readily absorb, store and release heat, raising city temperatures, a phenomenon called the urban heat island.

Many studies have shown that urban forests can reduce the urban heat island, and many policies focus their attention on large green spaces. Small green spaces, such as yards, rooftops and small parcels of undeveloped land, can make impressive contributions to lowering urban heat, but they are often overlooked when developing strategies for urban cooling.

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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Daily Update: June 7, 2022

June 7, 2022 | Daily Update

WSIB doubles rebates for employers enrolled in program, United Way Niagara announces Sean Kennedy as 2022 Campaign Chair, and more.

In this edition:

WSIB doubles rebates for employers enrolled in program
United Way Niagara announces Sean Kennedy as 2022 Campaign Chair
Niagara Region Public Health COVID-19 briefing
Ontario’s remaining COVID-19 mask mandates set to expire this weekend

WSIB doubles rebates for employers enrolled in program

Small employers in Ontario with fewer than 99 employees are being offered an incentive to invest in health and safety.

The Workplace Safety and Insurance Board (WSIB) is giving out a pandemic bonus that will double the rebates eligible businesses can earn for each topic they complete in its Health and Safety Excellence program.

“Many smaller businesses are still recovering from the pandemic,” says Jeffery Lang, president and CEO of the WSIB. “We are stepping up with added incentives to help get more businesses investing in health and safety right now.”

The Ontario government is exploring the idea of boosting compensation for workers who become injured or ill on the job.

Click here to read more.

United Way Niagara announces Sean Kennedy as 2022 Campaign Chair

Niagara College President Sean Kennedy is helping United Way kick-off this year’s campaign in an exciting way – as the 2022 Campaign Chair.

In United Way’s announcement on June 7, Kennedy shared his pride for being at the helm of the campaign.

“I am incredibly proud to be leading the 2022 Campaign for United Way Niagara. It is an honour to step into such an important role that many dedicated community leaders have held over the years. Niagara College is firmly committed to building a stronger community for all who live here,” said Kennedy. “My involvement as Campaign Chair builds on the already strong partnership between the College and United Way. I look forward to launching the campaign this coming fall.”

Click here to read more.

Niagara Region Public Health COVID-19 briefing

https://www.youtube.com/watch?v=Wu3pw5Imifs

Ontario’s remaining COVID-19 mask mandates set to expire this weekend

Ontario’s remaining mask mandates are set to expire this weekend, effectively bringing an end to more than two years of public health restrictions in the province.

The mask mandate for most settings was lifted back on March 21 but has remained in effect for a number of higher risk locations, including on public transit, in health-care settings such as at hospitals or in doctor’s offices, at long-term care and retirement homes and in shelters and other congregate settings that provide care to medically and socially vulnerable individuals.

Initially, Chief Medical Officer of Health Dr. Kieran Moore had intended to lift the mandate for high-risk settings by April 27 but he extended it due to the sixth wave of the pandemic.

It is now slated to expire at midnight on June 11.

Click here to read more.

Reading Recommendations

Money is top source of stress as cost of living soars: Survey

BNN Bloomberg

A new survey finds money has topped the list as the biggest source of stress among Canadians, and as the cost of living continues to soar, many are increasingly concerned about their financial wellbeing for the long term.

The 2022 FP Canada Financial Stress Index, released Tuesday, found four in ten respondents reported money was their number one stressor – outranking other causes such as their health (21 per cent), job (19 per cent) and relationships (18 per cent).

The survey was conducted by Leger on behalf of FP Canada and polled 2,001 Canadians in April. FP Canada is a national entity that certifies professional financial planners.

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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Daily Update: June 3, 2022

June 3, 2022 | Daily Update

Niagara Police launch program to help retailers combat fraud, voter turnout hits all-time low for Ontario, and more.

In this edition:

Employment Insurance Commission seeks Niagara employer input
Niagara Police launch program to help retailers combat fraud
Voter turnout hits all-time low for Ontario election
Two visitors now allowed at Niagara Health bedsides
Government of Canada to announce support for business scale-up

Employment Insurance Commission seeks Niagara employer input

On the afternoon of June 8th, the GNCC will host the Commissioner for Employers for the Canadian Employment Insurance Program. The Commissioner’s role is to be the voice of employers for the EI program, and she needs to hear from you! Join us for a free roundtable, share your thoughts, and help shape an EI system that works better for businesses. Contact hugo@gncc.ca for more details and to register.

Niagara Police launch program to help retailers combat fraud

Every year scammers target Canadians, many here in Niagara. The scams often target vulnerable victims. In 2021, the Canadian Anti-Fraud Centre received 104,295 fraud reports from across Canada with associated losses in excess of $379,000,000.

Scammers often direct victims to retail stores to purchase cryptocurrency or gift cards. The victims are under the impression that there is an emergency situation and that they must provide money or payment to the scammer. Scammers often tell the victims that the matter is private and not to talk to anyone.

The Point Sale Scam Intervention Program (POSSIP) has been designed with detectives from the NRPS Central Fraud Unit to create awareness and education for retail and financial institution employees with the goal of providing intervention at the point of sale.

Retailers and financial institutions are encouraged to download the education program for their employees to view.  The education program works in conjunction with a NRPS poster to support the employees which is also available for download.

Retailers and financial intuitions are also encouraged to create internal policy regarding scam intervention and refusal of sales to protect victims.

Click here to read more.

Voter turnout hits all-time low for Ontario election

Voter turnout hit an all-time low in Ontario’s provincial election.

Elections Ontario says about 43per cent of eligible voters cast ballots in Thursday’s contest, down from 57 per cent in 2018.

The agency says 99 per cent of polls have reported, but percentages are rounded to the nearest two decimals and may not add up to 100 per cent.

The 14 per cent drop in voter turnout between 2018 and this year’s election is the second largest in Ontario’s history after 86 per cent of eligible voters cast ballots in 1919 and 58 per cent voted in 1923.

The previous turnout low was 48 per cent in 2011 when Dalton McGuinty’s Liberal Party won a minority government.

Click here to read more.

Two visitors now allowed at Niagara Health bedsides

Starting today, Friday, June 3, Niagara Health visitor guidelines are increasing to allow two visitors at the bedside at one time for inpatient units, including Labour and Delivery and Neonatal Intensive Care Unit (NICU). There is no change for outpatient, Emergency Department (ED) and Urgent Care Centres (UCC), where patients can continue to bring one person to support them.

Visitors are reminded that masking, screening, and other safety protocols are still in place at hospitals.

Click here to read more.

Government of Canada to announce support for business scale up in southern Ontario

The Honourable Bardish Chagger, Member of Parliament for Waterloo, on behalf of the Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), will make an important announcement in support of business scale up in southern Ontario on June 6 at 11:30 a.m.

Click here to read more.

Reading Recommendations

As Elon Musk orders Tesla staff back to the office, many tech companies are doing the opposite

CBC News

A sternly worded internal email, apparently sent by Elon Musk ordering Tesla employees to either return to the office or leave, is raising a lot of eyebrows at a time when employees are increasingly seeking flexible work arrangements.

In a screenshot of the email, shared on Twitter, the richest man in the world warns employees at his electric car company that remote work is no longer acceptable.

Musk replied to the leaked email on Twitter and said people who think coming into work is antiquated “should pretend to work somewhere else.”

The hard-line approach on working arrangements from the controversy-prone billionaire, who once tweeted “the coronavirus panic is dumb,” strongly contrasts against how some other CEOs — particularly those in the tech and startup world — are handling this latest phase of working in a pandemic. New research also suggests it’s something employees value as much as a raise, and that it could even contribute to diversity in the workplace.

Click here to read more.

Retailers fear another hike in milk prices will set off a chain reaction

Financial Post

The federal body in charge of Canada’s milk supply is facing pressure to raise prices for a second time this year to help dairy farmers cope with inflation.

The Canadian Dairy Commission (CDC) — a Crown corporation that controls the “farm-gate” price that farmers receive for their milk — instituted a major increase in February. But farmers say it isn’t enough to cover unprecedented spikes in the cost of livestock feed, fuel and fertilizer.

Retailers fear another farm-gate increase will set off a chain reaction through the Canadian food system. The big dairy processors — which pay the farm-gate price for milk and turn it into cheese, yogurt and cream — will want to pass the extra cost onto retailers. From there, it’s up to retailers to decide whether they will accept the processors’ price increase, and then either absorb the added cost or raise consumer prices.

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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Daily Update: June 1, 2022

June 1, 2022 | Daily Update

Bank of Canada increases rate, St. Catharines to implement Accommodation Tax, Fort Erie requests end to border restrictions, and more.

In this edition:

Bank of Canada increases rate
Canadian childcare use still down from 2019
St. Catharines to implement Municipal Accommodation Tax
Welland will reopen Council chambers to public
GFL Environmental newest sponsor at Canada Games Park
Gillian’s Place seeks Director at Large
Fort Erie requests end to border restrictions

Bank of Canada increases interest rate

The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at 1¾% and the deposit rate at 1½%. The Bank is also continuing its policy of quantitative tightening (QT).

Inflation globally and in Canada continues to rise, largely driven by higher prices for energy and food. In Canada, CPI inflation reached 6.8% for the month of April – well above the Bank’s forecast – and will likely move even higher in the near term before beginning to ease. As pervasive input price pressures feed through into consumer prices, inflation continues to broaden, with core measures of inflation ranging between 3.2% and 5.1%. Almost 70% of CPI categories now show inflation above 3%. The risk of elevated inflation becoming entrenched has risen. The Bank announced its intent to use its monetary policy tools to return inflation to target and keep inflation expectations well anchored.

Click here to read more.

Canadian childcare use still down from 2019

Just over half (52%) of Canadian children younger than 6 years were in licensed or unlicensed child care in early 2022. This percentage was unchanged from late 2020 when the Survey on Early Learning and Child Care Arrangements (SELCCA) was last collected, but was down from 60% in 2019, before the onset of the COVID-19 pandemic.

While the overall proportion of young Canadian children in child care in early 2022 was unchanged from 2020, there were differences by age-group. In early 2022, 14% of infants younger than one year were in some type of child care, compared with 20% in 2020. The main reasons cited by parents or guardians for not having their infants in child care were the same as reported in 2020: they were on maternity or parental leave (57%) or they preferred to have a parent stay at home with their child (17%).

Click here to read more.

St. Catharines to implement Municipal Accommodation Tax

On Monday, City Council approved a Municipal Accommodation Tax (MAT) that will allow the City to capture revenues from visitors and reinvest that money in efforts to promote tourism and attract world-class events to the community. The program will see a four per cent MAT per room, per night implemented on hotel, motel, bed and breakfast and short-term rental operators, with the money administered by Tourism St. Catharines, a newly created municipal services corporation that will ensure the majority of revenues from the program are directed to tourism investment.

Click here to read more.

Welland will reopen Council chambers to public

Members of the public wishing to attend City of Welland Council meetings in-person are permitted to do so beginning June 7.
Chambers have been closed since the beginning of the pandemic, and Council meetings shifted entirely online, live-streamed through the City’s website. Live streaming continues as an option to watch Council meetings, but now chambers are open to full capacity of 150 people.

Click here to read more.

GFL Environmental newest naming sponsor at Canada Games Park

Canada Games Park partners are thrilled to announce GFL Environmental as the newest naming sponsor at the new Canada Games Park (CGP). Headquartered in Vaughan, Ontario, GFL Environmental is the fourth largest diversified environmental services company in North America, providing a comprehensive line of solid waste management, liquid waste management, and soil remediation services across Canada and more than half of the U.S. states.

Click here to read more.

Gillian’s Place seeks Director at Large

Gillian’s Place is a Canadian charitable organization whose mission is to empower and support people experiencing gender-based violence by providing safety, support, and a range of services and to raise awareness about root causes to end the cycle of violence and abuse. The organization seeks individuals with charitable/non-profit finance and, legal and risk management experience.

Click here to learn more about Gillian’s Place, the important work that they do, and how you can make a difference.
Interested candidates are invited to submit a cover letter and recent resume to the attention of the Board Selection Committee, care of nicole@gilliansplace.com.

Fort Erie formally requests end to COVID border restrictions

The Town of Fort Erie has passed a resolution asking that the Government of Canada immediately return all travel requirements and land ports of entry to pre-pandemic operation, which includes but is not necessarily limited to the removal of all COVID-related public health mandates and measures, returning to pre-pandemic staffing levels, as well as no longer requiring compulsory usage of the ArriveCAN application for  entry to Canada at the land border.

The Town has also recommended a Cross-Border Tourism Recovery Task Force to advocate to the federal and provincial governments on the importance of tourism and operation of the land border to Niagara’s post-COVID economic recovery.

Click here to read the letter (PDF link).

Reading Recommendations

Bank of Canada raises benchmark interest rate to 1.5%, signals more hikes on the way

CBC News

The Bank of Canada raised its benchmark interest rate to 1.5 per cent on Wednesday and signalled that more hikes are on the way.

The decision by the central bank to raise its rate by half a percentage point was widely expected as it moves to aggressively rein in high inflation.

In a vacuum, central banks slash interest rates to encourage borrowing and investing to stimulate a sluggish economy, and they raise rates when they want to cool down an overheated economy.

Just as many other countries did, Canada reduced lending rates in the early days of the COVID-19 pandemic. But those record-low borrowing rates have contributed to rising inflation, which is what’s prompting the central bank to change direction.

Click here to read more.

‘We’re still in a pandemic’: PM defends extension of border restrictions as industry groups demand relief

CTV News

Prime Minister Justin Trudeau is defending the recent extension of COVID-19 border restrictions, saying the decision is “anchored in science” as representatives from the travel and tourism sector gather in Ottawa to demand relief.

Trudeau said Canada is still in the midst of a pandemic and lifting restrictions – such as requiring foreign tourists to show proof of COVID-19 vaccination upon entry — too soon could cause worse outcomes for the travel sector.

“The reality is, as much as people would like to pretend we’re not, we’re still in a pandemic. There are Canadians who die every single day because of COVID-19,” he told reporters on Wednesday.

“I know people are eager to get back to things we love but what will also further damage our tourism industry is if we get another wave.”

Click here to read more.

The Election Section

Polls open tomorrow. Click here to find voting locations.

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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Daily Update: May 31, 2022

May 31, 2022 | Daily Update

In this edition:

Client-facing industries lead economic growth
St. Catharines passes vacant building by-law
Brock acquires Schmon Parkway site
Ontario celebrates National Indigenous History Month
St. Catharines to undertake study of Ontario Street corridor
Federal COVID-19 border restrictions extended

Client-facing industries lead March economic growth

Real gross domestic product (GDP) rose 0.7% in March, following a 0.9% expansion in February. Broad-based increases across most sectors were led by client-facing industries.

Both services-producing (+0.6%) and goods-producing (+0.9%) industries were up, as 14 of 20 industrial sectors expanded in March.

Advance information indicates that real GDP increased 0.2% in April. Output was up in the mining, quarrying and oil and gas, transportation and warehousing and wholesale trade sectors. Notable decreases were recorded in the real estate and rental and leasing, finance and insurance, manufacturing and construction sectors. Owing to its preliminary nature, this estimate will be updated on June 30 with the release of the official GDP data for April.

Following a 14.3% jump in February, the accommodation and food services sector rose 10.9% in March as both subsectors were up.

Transportation and warehousing rose 3.2% in March, following a 2.4% growth in February, as 8 of 10 subsectors were up.

The arts, entertainment and recreation sector increased 13.5% in March, the largest growth rate since July 2020, as many spectator sport venues, recreation centres and casinos allowed more patrons to attend their facilities.

Click here to read more.

St. Catharines passes Vacant Building Registry by-law

In an effort to drive re-development of derelict properties and protect public safety the City of St. Catharines is taking steps to address issues associated with vacant buildings.

On Monday, City Council passed a Vacant Building Registry By-law that aims to address issues associated with such properties and encourage property owners to not leave buildings empty for extended periods of time. Traditionally the City has addressed issues associated with vacant buildings on a complaint-driven basis.

If not properly monitored and maintained many vacant buildings develop property standards violations alongside Building and Fire Code deficiencies creating issues with beautification efforts, public safety, trespassing and increased risk of fire.

The new by-law requires owners to register their vacant buildings. Registration will trigger ongoing monitoring of such properties by by-law enforcement staff to ensure vacant buildings are safely closed off and all applicable property standards and Building Code requirements are met.

Owners with vacant properties will be required to pay a $350 one-time administrative fee and $850 annual registration fee to cover the staff resources of enhanced monitoring.

Click here to read more.

Brock acquires Schmon Parkway site

Brock University has acquired an eight-acre site on Schmon Parkway to support future growth, further enabling the expansion of classroom and lab space on the St. Catharines campus.

The site at 3401 Schmon Parkway is located in Thorold opposite the St. Catharines campus and has been home to an Enbridge operations centre and works yard. A portion of the 86,000-sq.-ft. building will continue to be occupied by Enbridge as part of a leaseback agreement with the University.

In an effort to free up space for more classrooms and research labs, several units that do not provide student-facing or employee-facing services, and are not operationally required to be on campus, will be relocated to the new site.

Click here to read more.

Ontario celebrates National Indigenous History Month

June is National Indigenous History Month — a time for all Ontarians to recognize and honour the rich and diverse histories and current realities of First Nations, Inuit and Métis peoples across the province and Canada.

It is an important opportunity to learn more about the distinct cultures, languages and experiences of Indigenous peoples, as well as how their contributions and achievements have, and continue to, shape our province and country.

Indigenous peoples continue to inspire us with their strength, resiliency and steadfast commitment to Indigenous values, often in the face of incredible obstacles. These obstacles include, amongst other challenges, the tragic impact of the Indian Residential School system on Survivors, and their families and communities.

The Ministry of Indigenous Affairs encourages all Ontarians to make use of the many available online resources and participate in events and activities to learn more about and celebrate the diverse cultures and heritage of Indigenous peoples that contribute to making Ontario a great place to live.

Click here to read more.

St. Catharines to undertake land use study of Ontario Street corridor

The City is launching a land use study of the Ontario Street corridor from the QEW in the north to Welland Avenue in the south, leading into the downtown core.

The study will guide future decisions for land use in that area of the city. The corridor includes the long-standing industrial properties at 282 and 285 Ontario Street (often recognized as the former GM lands) which will be a central focus of the study and for future redevelopment opportunities.

As public engagement and feedback will be a significant component of the Ontario Street Corridor Secondary Plan Study, there will be several opportunities for residents, landowners and business owners to provide input.

Click here to read more.

Federal COVID-19 border restrictions extended for another month

The federal COVID-19 restrictions at the border are being extended until at least June 30, Health Canada and the Public Health Agency of Canada announced on Tuesday.

The federal government will continue to require foreign tourists to provide proof of being fully vaccinated.

Unvaccinated Canadian citizens or permanent residents are also still required to show proof of a molecular COVID-19 test taken prior to entering Canada and quarantine for 14 days.

Click here to read more.

Reading Recommendations

Canada’s economic growth slows to 3.1%: What you need to know

Financial Post

Canada’s gross domestic product increased at an annual rate of 3.1 per cent in the first quarter, compared with a revised rate of 6.6 per cent over the final three months of 2021, Statistics Canada said on May 31. Here’s what you need to know.

The Bank of Canada last month predicted first-quarter growth would come in at an annual rate of three per cent, and it reckons Canada’s “potential” growth rate — the pace at which the economy can expand without stoking inflation — is about two per cent. So, yes, 3.1 per cent is a pretty good number.

For what it’s worth, Bay Street’s average forecast ahead of the release was for growth of about five per cent, so there will be some disappointment, or maybe relief, considering growth at that pace would continue to fuel worries that the central bank had lost its grip on inflation. The Bank of Canada has been struggling to get a read on prices, but it appears to have a better idea of what’s going on with GDP.

Click here to read more.

Gas prices have never been higher — but Canadians still aren’t jumping on public transit

CBC News

Transit ridership across the country is still noticeably down compared to pre-pandemic levels, even as more people return to the office and gas prices hit record-setting highs.

While vehicle use and air travel have nearly fully recovered from the pandemic, transit use may still take a few years to return to normal levels, observers said.

The most recent ridership figures from Statistics Canada come from March 2022. This was the twelfth straight month of year-over-year growth in urban transit. Still, ridership is only 52 per cent of what it was at the beginning of the pandemic in March 2020.

Click here to read more.

The Election Section

Click here to find voting locations.

Niagara poll tracker

Provincial poll tracker

The 338Canada project is a statistical model of electoral projections based on opinion polls, electoral history, and demographic data.

GNCC election platform

The GNCC asks that the next Government of Ontario support more and better housing by aligning development charges to make multi-unit dwellings more competitive with single-family homes for developers. Development charges are a significant cost for developers, and higher charges for more efficient and renter-friendly multi-unit dwellings effectively deter them from building such dwellings. A housing strategy for Ontario must embrace and encourage development of many types of housing.

Click here to read the full platform.

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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